The risk management strategy forms part of AFBI’s internal control and corporate governance arrangements. The strategy explains AFBI’s underlying approach to risk management, documents the roles and responsibilities of the Board, the Audit Committee, the Senior Management Team (SMT), and other key parties. It also outlines key aspects of the risk management process, and identifies the main reporting procedures. In addition, it describes the process the Board will use to evaluate the effectiveness of AFBI’s internal control procedures.
Content
- Purpose of the Risk Management document
- Underlying approach to risk management
- Roles and responsibilities
- Risk identified and the risk register
- Risk management as part of the system of internal control
- Review, monitoring and reporting procedures
- Annual review
