The management aligns and coordinates risk management activities across the institution to maximize synergies, avoid gaps and prevent duplication of effort.
Guideline code
GG_06900
Mechanism
Mechanism
- There should be an effective monitoring and communications system to support the implementation of risk management activities.
- The management should ensure the availability of adequate human, ICT and other resources to implement risk management activities in an effective and timely manner.
- The management should regularly evaluate the effectiveness and cost efficiencies of the risk management activities.
Structure
Structure
- The management should ensure that the formulation and implementation of risk management strategies are aligned and coordinated across the institution.
- Where risk response measures call for changes in processes and systems, the management should consider creating a change management team to ensure minimum disruption to operations and to monitor and coordinate the transition across the relevant units of the institution.
- The board should exercise oversight of the management’s overall implementation of risk response measures. The management should keep the board fully informed of these activities on an ongoing basis.
Title HTML
Guideline 53. Aligning and coordinating risk management activities
Type
Guideline_1
Weight
73