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Format and contents of the Self-Assessment


FORMAT

The regulators have not provided or recommended any particular format or template for the Self-Assessment document. The format is therefore left to each firm’s discretion. In our experience, many firms use a document with various supporting Appendices, whereas others prefer to use a spreadsheet with multiple tabs.

LEVEL OF DETAIL

The size and level of detail of the Self-Assessment document should be proportionate to the firm’s activities.  The document should be detailed enough to explain and justify the firm’s resilience steps and methodologies, including the testing undertaken.  It should provide all relevant outputs for the Board to be able to provide sign-off.  This being said, the document should also be easy to follow and navigate, and excessive detail may make it difficult to achieve Board engagement and sign-off.  There is no limit as to how much information to include, and firms may consider including additional supporting information such as independent compliance testing or audit reports.

As the Self-Assessment is likely to become a living document, it may make sense to include the parts which are most likely to change in Appendices or separate tabs.

CONTENTS

Firms may consider including sections covering the following in their Self-Assessments

Have you read our responses behind other key questions in the series?  You can view them by clicking on the links to the pages below: