The Supervisory Board appoints, monitors 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 orally, particularly in conversations between the Chairman of the Management Board and the Chairman of the Supervisory Board.
Section 25d (11) sentence 2 No. 3 of the German Banking Act (KWG) requires the Supervisory Board to evaluate the structure, size, composition and performance of the management and supervisory body on a regular basis, at least once a year. For this purpose, the Supervisory Board used questionnaires, as in the previous year, not only to evaluate various aspects of its own work, but also to evaluate the work of the Management Board. The efficiency review conducted in the autumn of 2016 revealed that the Supervisory Board is satisfied with the efficiency of its activities on the whole. In order to further improve its efficiency, the Supervisory Board used the answers to the questionnaires to pass isolated measures and identify topics for further training. The implementation of these measures shall be followed up on on a regular basis.
In order to ensure that the Supervisory Board has up-to-date specialist and expert knowledge at all times, two further training events were held for the Supervisory Board last year. The topics covered by the events resulted partly from the 2015 efficiency review, in which Supervisory Board members had proposed further training topics, but also from current developments. At these events, the Supervisory Board underwent further training on new supervisory law developments and bank-specific matters with internal and external speakers, and took an intensive look at the rights and obligations of the Management Board and the Supervisory Board during a privatisation process.