Board responsibilities under the CSSF Circular 12/552

This circular, on the central, internal governance and risk management, aims to bring together all the CSSF circulars previously published in central administration, audit and internal control, compliance, management risk and governance. The circular transposes into Luxembourg law the guidelines of the European Banking Authority (EBA) in internal governance (GL 44, September 2011) and the principles of the Basel Committee on Banking Supervision on Bank Internal Audit (June 2012).
The purpose of the circular is to provide institutions concerned a robust internal control framework and formalized for sound and prudent risk management.

3 November 2020 (ENG) - Webinar format - 2pm-4pm

28 January 2021 (ENG) - 9am-1pm

25 March 2021 (ENG) - 9am-1pm

17 May 2021 (ENG) - 2pm-6pm

Classroom based: 650.00 €
Webinar: 300 €

Classroom based: 4h
Webinar: 2h

Language: English

Number of participants: 20



By the end of this training, the participants will be able to:

  • Describe the key points and objectives of the CSSF Circular 12/552 on strengthening the internal governance of banks and investment firms;
  • Identify the main difficulties that affect their activities / functions and take corrective measures.


  • The model of business organization (name, responsibilities, job descriptions...);
  • Mandatory functions concerned (who does what, who is responsible for what, outsourcing...);
  • Required procedures to be implemented or updated (whistleblowing...);
  • Deadlines;
  • The reporting requirements (internal and the CSSF, frequency).

Target audience

  • Board Members,
  • Authorised Management,
  • Internal Audit,
  • Risk, Compliance,
  • Finance,
  • IT function.
Our lead experts

Our lead experts

This training is coordinated by Jean-Philippe Maes, Partner (Regulatory Compliance Services).

Jean-Philippe has been providing governance and risk management services to a wide banking and PFS audience over the last 12 years. He is a Partner within PwC Luxembourg, where he leads the firm’s Banking and PFS Risk Advisory team. He chairs the Basel IV Taskforce and is the lead advisor for CRD IV/CRR topics. Jean-Philippe has coordinated assignments in banking and PFS risk management topics such as: stress testing, capital requirements and liquidity adequacy analysis, internal governance and operations, regulatory reporting and others. He is the holder of an MBA from Warwick Business School combined with the engineering background from previous studies.

Contact us

Contact details

PwC's Academy, Crystal Park Building, PwC Luxembourg

Tel: +352 49 48 48 4040

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