This session is to help members understand the key elements of the Individual Accountability Framework (IAF). The Central Bank of Ireland (CBI) has concluded its consultation phase, leading to the release of a Feedback Statement along with new Regulations and Guidelines on the IAF. This initiative aims to reinforce governance, performance, and accountability in the financial services sector.
At the end of this session, delegates will be able to:
- Describe where responsibility and decision-making lie within the firm’s senior management.
- Outline & apply firm’s obligations to proactively certify that individuals carrying out certain specified functions are fit and proper.
- Summarise Common Conduct Standards and senior executives to understand Additional Conduct Standards.
- Summarise the key elements of the IAF and actions required.
About the Presenter
- Suneeta Padda is the dynamic founder of Padda Consulting and more recently Ever Comply, boasting over a decade of unparalleled expertise in the insurance sector. Recently, she has been instrumental in regulatory engagements with a prominent GI Motor and Home insurer. Holding distinguished senior roles at firms such as Howden Broking Group, XL Catlin, and Lloyd’s, Suneeta’s pragmatic approach to compliance has always been rooted in a deep understanding of both business and regulatory landscapes.
- 2022 marked a significant milestone as Padda Consulting celebrated its 10th anniversary. and was also the proud recipient of the London Market People’s Award for Outstanding Contribution to Legal & Compliance.
- An active advocate for diversity and inclusion, Suneeta has been a pivotal Advisory Board member since 2020, collaborating with esteemed insurance leaders of colour through RATL (Race Action Through Leadership). Association with the Independent Women in Insurance Network and a member of the WCI.