RM Responsibilties

RM Responsibilties

1. Allocation of responsibilities

   • Clear statement of responsibitlies
     • RM of significant risks
       • setting required standards of risk
         • implementing risk standards
           • Monitoring risk performance

2. Range of responsibilties

   • -CEO -Location manager -Individual Employees
     • First line of defence
   • -Risk manager - Specialist RM functions
     • Second line of defence
   • Internal Audit Manager
     • Third line of defence

3. Statutory Responsibilties

   • The companies Act 2006
   • Executive directors
   • Non-executive directors

4. Role of the Risk manager

   • GRASP

5. Risk architecture

   • TORs and Committees
     • relationship and structure

6. RMC

   • Responsibilties
     • Relationship with audit committee
       • three lines of defence