Enterprise Risk Management Sample Clauses

Enterprise Risk Management including providing the functions typically provided by a chief risk officer; risk modeling; asset-liability matching; regulatory filings and risk framework services such as governance, strategy, policies and procedures for risk identification, monitoring, prioritization, measurement and management. These services will be provided by PNX.
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Enterprise Risk Management. (1) Within sixty (60) days, the Board shall develop, implement, and thereafter ensure Association adherence to a written risk management program to include, at a minimum, the following: (a) identification of existing credit, interest rate, liquidity, operational, compliance, strategic, reputation, and price risks, and a written analysis of those risks; (b) action plans and time frames to reduce risks where exposure is high, particularly with regard to credit risk, which impacts directly on liquidity, compliance, strategic, and reputation risks, as more fully discussed in the XXX; (c) policies, procedures or standards which limit the degree of risk the Board is willing to incur, consistent with the strategic plan and the Association’s financial condition. This includes analyzing and limiting the risks associated with any new lines of business which the Board undertakes. The procedures shall ensure that strategic direction and risk tolerances are effectively communicated and followed throughout the Association and shall describe the actions to be taken where noncompliance with risk policies is identified; (d) systems to measure and control risks within the Association. Measurement systems shall provide timely and accurate risk reports by customer, by department or division, and Association-wide as appropriate. Particular emphasis should be placed on enhanced credit risk management measurement systems; and (e) procedures to ensure that Association employees have the necessary skills to supervise effectively the current and the new business risks within the Association, and procedures to describe the actions to be taken to address deficiencies in staff levels and skills. (2) The Board shall ensure that the Association has processes, personnel, and control systems to ensure implementation of and adherence to the program developed pursuant to this Article.
Sample 1
Enterprise Risk Management. (1) Within two hundred and seventy (270) days, the Board shall develop, implement, and thereafter ensure Bank adherence to an enterprise risk management program to include, at a minimum, the following: (a) identification of existing credit, interest rate, liquidity, operational, compliance, price, strategic, and reputation risks, and a written analysis of those risks; (b) action plans and time frames to control risks where exposure is high, particularly with regard to credit risk, which impacts directly on liquidity, compliance, strategic, and reputation risks; (c) policies, procedures or standards which limit the degree of risk the Board is willing to incur, consistent with the Bank’s strategic plan and financial condition. This includes analyzing and limiting the risks associated with any new lines of business or growth which the Board undertakes. The procedures shall ensure that strategic direction and risk tolerance are effectively communicated and followed throughout the Bank and shall describe the actions to be taken where noncompliance with risk policies is identified; (d) systems to identify, measure and control risks within the Bank. Measurement systems shall provide timely and accurate risk reports by customer, by department or division, and bankwide as appropriate; and (e) procedures to ensure that Bank employees have the necessary skills to supervise effectively the current and the new business risks within the Bank, and procedures to describe the actions to be taken to address deficiencies in staff levels and skills. (f) The risk management program shall be consistent with OCC Bulletin 2006-46 (dated December 6, 2006). (2) The Board shall ensure that the Bank has processes, personnel, and control systems to ensure implementation of and adherence to the program developed pursuant to this Article. (3) Within sixty (60) days, the Board shall evaluate and document the need for a corporate risk officer and, if the Board determines to appoint a corporate risk officer, then the Board shall, subject to Paragraph (4) of this Article, within ninety (90) days thereafter, identify and appoint an individual with demonstrated experience and skills in providing overall risk management to implement the Bank’s risk management program. This individual shall report to the Board of Directors of the Bank and shall be independent of other Bank operations. (4) Prior to the appointment or employment of any individual to this risk management position, the Board shall ...
Sample 1
Enterprise Risk Management. Defines the methodology for the assessment and treatment of risks associated with the loss of confidentiality, integrity, and availability of information, and define the acceptable risk level. • Ensures that all workforce members are well suited for, and understand, their roles and responsibilities. • Ensures that potential workforce hires undergo background checks. • Ensures that workforce members sign non-disclosure agreements and commit to acceptable use policies. • Ensures that all workforce members are aware of, and that they fulfill, their information security responsibilities and obligations, such as adhering to OneTrust’s password policies. • Ensure that workforce members who handle personal data receive additional privacy and security training to better understand their responsibilities and obligations. These members must obtain both the Certified Information Privacy Professional/Europe (CIPP/E) and the Certified Information Privacy Manager (CIPM) certifications • Ensures that the organization’s interests are protected throughout the employment process, from pre-employment to termination.
Sample 1
Enterprise Risk Management. UTC has adopted an Enterprise Risk Management ("ERM") process. Through ERM, compliance risks are identified by management and then rated and ranked by the functional departments and business units, based on a combination of a given risk's likelihood and potential impact. Although ERM is a continuous process, there is an annual cycle for structured risk reviews, discussions, and mitigation decision-making, including at operation management meetings chaired by UTC's Chairman & CEO. UTC's ERM Council meets annually to synthesize the outputs from the individual functional departments and business units. Based on its review of this consolidated data, the ERM Council then makes recommendations to UTC's Presidents Council, which includes UTC's Chairman & CEO, the Presidents ofUTC's major business units, and senior corporate staff. This information is then presented annually to UTC's Board of Directors.
Sample 1
Enterprise Risk Management. The Enterprise Risk Management framework adopted by the Group is a structured and disciplined approach to align its strategy, processes, people, technology and knowledge in evaluating and managing business risks. This involves updating of principal risks across all the operating divisions periodically and timely reporting of these risks to the attention of the Audit Committee and the Board. The Group has established a Risk Management Committee that comprises senior management and chaired by a Chief Risk Officer who is also the Director of Finance. The Risk Management Committee functions within the authority of the charter and the risk policy and guidelines approved by the Board.
Sample 1
Enterprise Risk Management. (1) Within sixty days (60) of the date of this Agreement and annually thereafter, the Bank shall perform an annual risk assessment of the enterprise wide risks confronting the Bank, inclusive of price risk. (2) Prior to the Bank's involvement in any new products, activities, or services the Bank must conduct the following: (a) an assessment of the risks and benefits of the new product, activity, or service to the Bank; (b) an explanation of how the product or service is consistent with the Bank’s strategic plan; and (c) an evaluation of the adequacy of the Bank’s organizational structure, staffing, management information systems, internal controls and written policies and procedures to identify, measure, monitor, and control the risks associated with the new product, activity, or service. (3) The Board must approve the new product, activity, or service after consideration of the Bank's assessment required by subparagraphs (a), (b), and (c) of Paragraph (2).
Sample 1
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Enterprise Risk Management 
Sample 1

Related to Enterprise Risk Management

  • Risk Management Except as required by applicable law or regulation, (i) implement or adopt any material change in its interest rate and other risk management policies, procedures or practices; (ii) fail to follow its existing policies or practices with respect to managing its exposure to interest rate and other risk; or (iii) fail to use commercially reasonable means to avoid any material increase in its aggregate exposure to interest rate risk.

  • Administration and Risk Management Employees of Federated Advisory Services Company provide support to portfolio managers and other employees of affiliated advisers. Such services may include development of risk management programs, production of portfolio and compliance reports for clients and/or fund Boards, coordination of client portfolios and related fixed income trade execution implementation and administration, completion of required broker and custody documentation, development and documentation of operational procedures, coordination of proxy voting activities, on-site support of hardware and software, etc.”

  • Traffic Management 9.2.1 During the Operating Period, Developer shall be responsible for the general management of traffic on the Project. Developer shall manage traffic so as to preserve and protect safety of traffic on the Project and Related Transportation Facilities and, to the maximum extent practicable, to avoid disruption, interruption or other adverse effects on traffic flow, throughput or level of service on the Project and Related Transportation Facilities. Developer shall conduct traffic management in accordance with all applicable Technical Provisions, Technical Documents, Laws and Governmental Approvals, and in accordance with the Traffic Management Plan. 9.2.2 Developer shall prepare and submit to TxDOT and the Independent Engineer for TxDOT approval a Traffic Management Plan for managing traffic on the Project and Related Transportation Facilities after the commencement of traffic operations on any portion of the Project, addressing (a) orderly and safe movement and diversion of traffic on Related Transportation Facilities during Project construction, (b) orderly and safe movement of traffic on the Project and (c) orderly and safe diversion of traffic on the Project and Related Transportation Facilities necessary in connection with field maintenance and repair work or Renewal Work or in response to Incidents, Emergencies and lane closures. Developer shall prepare the Traffic Management Plan according to the schedule set forth in the Technical Provisions. The Traffic Management Plan shall comply with the Technical Provisions and Technical Documents concerning traffic management and traffic operations. Developer shall carry out all traffic management during the Term in accordance with the approved Traffic Management Plan. 9.2.3 Developer shall implement the Traffic Management Plan to promote safe and efficient operation of the Project and Related Transportation Facilities at all times during the course of any construction or operation of the Project and during the Utility Adjustment Work. 9.2.4 TxDOT shall have at all times, without obligation or liability to Developer, the right 9.2.4.1 Issue Directive Letters to Developer regarding traffic management 9.2.4.2 Provide on the Project, via message signs or other means consistent with Good Industry Practice, non-Discriminatory traveler and driver information, and other public information (e.g. amber alerts), provided that the means to disseminate such information does not materially interfere with the functioning of the ETCS.

  • MANAGEMENT OF EVALUATION OUTCOMES 12.1 Where the Employer is, any time during the Employee’s employment, not satisfied with the Employee’s performance with respect to any matter dealt with in this Agreement, the Employer will give notice to the Employee to attend a meeting; 12.2 The Employee will have the opportunity at the meeting to satisfy the Employer of the measures being taken to ensure that his performance becomes satisfactory and any programme, including any dates, for implementing these measures; 12.3 Where there is a dispute or difference as to the performance of the Employee under this Agreement, the Parties will confer with a view to resolving the dispute or difference; and 12.4 In the case of unacceptable performance, the Employer shall – 12.4.1 Provide systematic remedial or developmental support to assist the Employee to improve his performance; and 12.4.2 After appropriate performance counselling and having provided the necessary guidance and/or support as well as reasonable time for improvement in performance, the Employer may consider steps to terminate the contract of employment of the Employee on grounds of unfitness or incapacity to carry out his or her duties.

  • Network Management 60.1 CLEC and CenturyLink will exchange appropriate information (e.g., network information, maintenance contact numbers, escalation procedures, and information required to comply with requirements of law enforcement and national security agencies) for network management purposes. In addition, the Parties will apply sound network management principles to alleviate or to prevent traffic congestion and to minimize fraud associated with third number billed calls, calling card calls, and other services related to this Agreement. 60.2 The Parties will employ characteristics and methods of operation that will not interfere with or impair the Parties’ networks, or the network of any third parties or Affiliated companies, connected with or involved directly in the network or facilities of CenturyLink. 60.3 CLEC shall not interfere with or impair service over any circuits, facilities or equipment of CenturyLink, its Affiliated companies, or its connecting and concurring carriers. 60.4 If CLEC causes any impairment or interference, CenturyLink shall promptly notify CLEC of the nature and location of the problem and that, unless promptly rectified, a temporary discontinuance of the use of any circuit, facility or equipment may be required. The Parties agree to work together to attempt to promptly resolve the impairment or interference. If CLEC is unable to promptly remedy, then CenturyLink may, at its option, temporarily discontinue the use of the affected circuit, facility or equipment until the impairment is remedied. 60.5 Any violation of Applicable Law or regulation regarding the invasion of privacy of any communications carried over CenturyLink’s facilities, or that creates hazards to the employees of CenturyLink or to the public, is also considered an impairment of service. 60.6 CenturyLink shall give advanced notice to CLEC of all non-scheduled maintenance or other planned network activities to be performed by CenturyLink on any Network Element, including any hardware, equipment, software, or system, providing service functionality of which CLEC has advised CenturyLink may potentially impact CLEC End Users. 60.7 The Parties shall provide notice of network changes and upgrades in accordance with 47 C.F.R. §§51.325 through 51.335. CenturyLink may discontinue any Interconnection arrangement, Telecommunications Service, or Network Element provided or required hereunder due to network changes or upgrades after providing CLEC notice as required by this Section. CenturyLink agrees to cooperate with CLEC and/or the appropriate regulatory body in any transition resulting from such discontinuation of service and to minimize the impact to customers which may result from such discontinuance of service.

  • Virus Management DST shall maintain a malware protection program designed to deter malware infections, detect the presence of malware within DST environment.

  • Patch Management All workstations, laptops and other systems that process and/or 20 store PHI COUNTY discloses to CONTRACTOR or CONTRACTOR creates, receives, maintains, or 21 transmits on behalf of COUNTY must have critical security patches applied, with system reboot if 22 necessary. There must be a documented patch management process which determines installation 23 timeframe based on risk assessment and vendor recommendations. At a maximum, all applicable 24 patches must be installed within thirty (30) calendar or business days of vendor release. Applications 25 and systems that cannot be patched due to operational reasons must have compensatory controls 26 implemented to minimize risk, where possible.

  • Service Management Effective support of in-scope services is a result of maintaining consistent service levels. The following sections provide relevant details on service availability, monitoring of in-scope services and related components.

  • Logistics The Client shall arrange their own transportation and accommodation, unless Client and Performer agree otherwise. If requested, the Performer shall arrange transport within Ostrava, and provide accommodation in a hotel.

  • Banking Operations Enter into any new material line of business; change its material lending, investment, underwriting, risk and asset liability management and other material banking and operating policies, except as required by applicable law, regulation or policies imposed by any Governmental Authority; or file any application or make any contract with respect to branching or site location or branching or site relocation.

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