SCHEDULE 5Systems and processes requirement
Risk management
I19
Whether there are systems and processes—
a
for identifying, managing and monitoring operational, financial, regulatory and compliance risks;
b
for identifying, managing and monitoring risks in respect of the soundness of the design of the scheme;
c
for recording and documenting risks in an appropriate and durable format;
d
for ensuring that risks are managed in a timely manner by persons with the appropriate skills, knowledge and resources;
e
for informing the trustees about risks that have arisen and the steps being taken to manage them.