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.