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.