SCHEDULE 4SYSTEMS AND PROCESSES REQUIREMENTS

Risk management

7

Whether there are systems and processes—

a

for identifying, managing and monitoring operational, financial, regulatory and compliance risks;

b

for recording and documenting risks in an appropriate and durable format;

c

for ensuring that risks are managed in a timely manner by the appropriate persons;

d

for informing the trustees about risks that have arisen and the steps being taken to manage them.