The assessment interview with management board members and supervisory board members

Persons who determine the policy of an enterprise either solely or jointly or who supervise such policy must be proper and fit for the performance of their tasks. Persons nominated for these positions at a financial enterprise are assessed by the AFM and/or De Nederlandsche Bank (DNB) for propriety and fitness.

The AFM may invite you for an assessment interview in order to assess your propriety and/or fitness. Assessment interviews are conducted to supplement the information obtained on the basis of the documentation provided. The decision as to whether to hold an assessment interview or not depends on the circumstances.

When will no interview be held?

The AFM does not hold interviews with the candidate in all its assessments. No interview will be held if the file shows that sufficient information is available to form an opinion. For example, for the appointment of candidates whose CVs show demonstrable knowledge and work experience, or if there are no supervisory or other records.

Assessments of policymakers of small financial services providers (with up to 6 employees) can usually be processed without an interview, since fitness for this group can be evidenced by adequate demonstrable work experience and/or a relevant diploma for higher professional or university education. If a candidate has been previously assessed for a similar position at a similar financial enterprise, an interview may also not be required.

When is an interview held?

An assessment interview is held in the following cases:

  • for (crucial) policymaking positions at financial enterprises with significant impact
  • for the appointment of a CRO if additional attention to risk management is required at an enterprise
  • for the appointment of a CEO who will have to guide an enterprise towards an exit or sale
  • if changes are imminent or there are exceptional circumstances at an enterprise in which the qualities of the policymakers could play an important role; for example, an enterprise for which a significant change process is planned. In such cases, the specific knowledge, experience and background of the candidate policymaker may be of extra importance
  • if the documentation provided does not provide sufficient information to arrive at an opinion without an interview; for instance, for a candidate who will be responsible for managing the business operations (such as a COO) whose CV does not or not sufficiently clearly show that the candidate has sufficient demonstrable experience with managing the business operations
  • if the candidate policymaker is or has been involved in one or more supervisory records, for example if there has been involvement in violations that have led to a formal measure being imposed by a (non-Dutch) supervisor, such as an administrative fine

How can you prepare?

You can prepare for an assessment interview by gaining a sound understanding of the enterprise; its products; market and other developments; and relevant legislation and regulation. It is also useful to hold discussions with the (members of the) management board or the (members of the) supervisory board and attend their meetings as an observer. Our advice is to discuss and agree on these type of matters with the enterprise. For instance whether you may let it be known during the assessment that you already possess certain knowledge and whether you will be allowed insight into internal, confidential documents.

The assessment interview is conducted in an open atmosphere and aims to obtain further information from you to establish whether you have sufficient knowledge and competences to be able to fulfil the proposed position. Sometimes specific questions may be asked for the purpose of the propriety assessment. This will be the case for example if there are relevant records. In other words, the assessment interview aims to bring together all the relevant information so that the AFM can determine whether you are proper and/or fit for the proposed position.

The interviews are held at the AFM and last for approximately one and a half hours. You will always be informed in advance if an interview is to be held, and if so, who your interviewers will be. A second assessment interview may be required if the interviewers conclude that more information is needed.

The AFM will not render any views regarding your propriety or fitness during the assessment interview.

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