The Supervisory Board appoints, oversees and advises the Management Board and is involved in fundamental decisions made by the Bank. The Management Board informs the Supervisory Board regularly and in good time of the proposed business policy and other fundamental matters during the meetings and also verbally, particularly in conversations between the chairperson of the Management Board and the chairperson of the Supervisory Board.
Section 25d (11) page 2, no. 3 of the German Banking Act stipulates that the Supervisory Board must, on a regular basis and at least once a year, assess the structure, size, composition and performance of the executive and of the Supervisory Board. The Supervisory Board has, as in the preceding years, for this purpose scrutinised various aspects of its work on the basis of questionnaires as well as an evaluation by the Management Board. The efficiency audit conducted in the autumn of 2015 found that the Supervisory Board is, generally speaking, satisfied with the efficiency of its activities. To further improve its efficiency, the Supervisory Board adopted some measures and indentified advanced training topics on the basis of the replies to the questionnaires that will be followed up regularly.
Two advanced training events took place in the past year to ensure that the Supervisory Board’s members always have up-to-date specialist and professional knowledge. The topics for these events stemmed largely from the 2014 efficiency audit, during which the Supervisory Board members suggested material to be covered by advanced training sessions. During these events involving both internal and external instructors, the members of the Supervisory Board gained further knowledge particularly concerning regulatory updates, but also on Bank-specific matters.