Risk governance requires Pension Funds to maintain Board oversight and a three-lines-of-defence model for effective risk management. Pension Funds must maintain a Board-level Risk Committee and implement a three lines of defence model. Investment management and operations own and ... Summary
Risk governance requires Pension Funds to maintain Board oversight and a three-lines-of-defence model for effective risk management.
Pension Funds must maintain a Board-level Risk Committee and implement a three lines of defence model. Investment management and operations own and control operational risks; compliance, legal and risk-management functions set risk appetite, monitor regulatory requirements and report deficiencies; and internal audit reports directly to the Board, providing independent assurance on governance, risk management and internal controls.
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