Risk Management Committee. The Company has established and, during the Relevant Period, will maintain a risk management committee of the Board of Directors that will oversee the major risks involved in the Company’s business operations and review the Company’s actions to mitigate and manage those risks.
Risk Management Committee. AIG shall maintain a risk management committee of the AIG Board that will oversee the major risks involved in AIG’s business operations and review AIG’s actions to mitigate and manage those risks; and
Risk Management Committee. The Company has constituted a Risk Management Committee in compliance with the SEBI Listing Regulations.
Risk Management Committee. There shall be a Risk Management Committee consisting of the Chair, the Treasurer, and such other Directors and members as the Board determines. The committee shall develop and recommend to the Board within one year of the Effective Date of this Agreement, and at least biennially thereafter, an Enterprise Risk Management Policy, and shall perform such tasks as, reviewing major risk exposures and monitoring the steps taken to control said exposures. The Risk Management Committee shall commission an independent agent to conduct and deliver to the Board and to the Members at the Annual Meeting an evaluation of the operational performance of the Corporation relative to the Enterprise Risk Management Policy and as otherwise requested by the Board. The Corporation shall budget an amount necessary for the evaluation as determined by the Risk Management Committee, which shall cause to be hired a firm or individual that has no other direct or indirect business relationship with the Corporation. The evaluation shall be conducted at least once every two years, starting within three years of the initial provision of electricity supply to a Member and no individual or firm may be hired to conduct more than two consecutive evaluations. The Risk Management Committee shall act upon a majority vote of the Member Directors of the Committee.
Risk Management Committee. The Board may establish other Board Committees from time to time as it deems appropriate.
Risk Management Committee. The Risk Management Committee (“RMC”) maintains general oversight of all risk taking and risk management activities of the Company, including: • Market risk related to commodity prices, foreign exchange rates and interest rates. The primary component of this risk for Xxxxxxx is the exposure to commodity price volatility and the potential for financial losses; • Credit risk. This risk reflects the exposure to credit quality of Xxxxxxx’x counterparties and the potential for non-performance of their obligations; • Physical operations risk. This risk reflects the range of exposures that are associated with Xxxxxxx’x physical operations, primarily within terminals and trucking. Key exposures include health, safety, and environmental areas as well as the risks associated with not meeting customer obligations; • Operational risk. This risk refers to having inadequate systems and control processes as well as explicit items such as fraud and human error;
Risk Management Committee. The Board shall appoint a Risk Management Committee (“RMC”). The RMC shall have those powers, authorities, and responsibilities delegated to it by the Board in its Charter.
Risk Management Committee. The Risk Management Committee of the Bank is a Board-level committee with the responsibility to provide guidance and oversight on the Bank’s risk management strategy and development, review risk management issues and the resolution thereof, and review risk management policies and major risk limits prior to the approval by the Board. The Risk Management Committee comprises the Chief Executive, three executive directors and an independent non-executive director.
Risk Management Committee. The Risk Management Committee (“RMC”) maintains general oversight of all risk taking and risk management activities of the Company, including: Market risk related to commodity prices, foreign exchange rates and interest rates. The primary component of this risk for Xxxxxxx is the exposure to commodity price volatility and the potential for financial losses; Credit risk. This risk reflects the exposure to credit quality of Xxxxxxx’x counterparties and the potential for non-performance of their obligations; Physical operations risk. This risk reflects the range of exposures that are associated with Xxxxxxx’x physical operations, primarily within terminals and trucking. Key exposures include health, safety, and environmental areas as well as the risks associated with not meeting customer obligations; Operational risk. This risk refers to having inadequate systems and control processes as well as explicit items such as fraud and human error; Liquidity risk. This is essentially a financial risk due to uncertain liquidity, e.g., if cash outflows are too large relative to cash inflows and available credit lines. Liquidity issues can also occur due to significant ownership of assets with low liquidity; and Business risk. This reflects the range of standard risks of operating a business, including factors such as uncertainty in product demand, legal risk, and regulatory risk. The RMC has authority and responsibility for: Monitoring all risk taking and risk management activities of the Company; Ensuring development and communication of appropriate Risk Management and Control Policies and ensuring that such documents are updated periodically, as needed; Ensuring that Risk Management and Control Documents are adhered to; Ensuring that appropriate internal control processes are established and adhered to; Reviewing and approving new products, trading instruments and entry into new markets; Reviewing and approving proposed interest rate risk management strategy, e.g. proportion of fixed and floating instruments; Monitoring adequacy of staffing of resources devoted to commercial and risk management activities and ensuring that clear lines of authority and responsibility exist for assessing, measuring, and managing risks; Curtailing or suspending trading activities, if necessary due to out of compliance actions, processes or results; Ensuring that RMC actions and decisions are properly documented and acted upon in a timely manner; Ensuring the development of appropriate s...
Risk Management Committee. The EMT also serves as the local Risk Management Committee. In line with the Code of Practice, this Committee has written terms of reference which clearly outline its authority and duties. Its fundamental role is to ensure that the interests of Government and other stakeholders are protected in relation to business and financial reporting and internal control in the IPS. The Committee is responsible for overseeing the IPS risk management process (including through regular review of the corporate risk register) and ensuring that it is operating as intended. The Committee meets at least four times a year, and any Committee member may call additional meetings. In late 2019, an external risk management specialist was engaged to work with the IPS to help develop a revised risk management framework which is more robust and reflective of the environment in which the service is operating. The project has continued into 2020 and the new framework being developed will enhance how risks are reported, the systems used to record, report and manage risk, and how risk is embedded into business management at the strategic and operational levels. The IPS will inform and consult with Performance & Compliance on any advice received from the IPS Risk Management Committee, and on how it is intended to put such advice into effect. As part of any such consultations, the IPS will identify any Departmental supports that it believes necessary in managing a given risk.
