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What does board risk oversight committee do?

The purpose of the Board Risk Oversight Committee is to oversee the establishment of Enterprise Risk Management (ERM) framework that will effectively identify, monitor, assess and manage key business risks.

What is a board oversight committee?

The board oversight committee shall assess whether the board of directors has operated in ance with Part IV, Part IVA of the Act and any regulations made for the purposes of Part IV or Part IVA of the Act and any other matter prescribed by the Bank in respect of which they are to have regard to in relation to the

What does board oversight mean?

Board oversight involves the continual inquiry by directors into whether the boards delegation of authority to management is reasonable, and whether the board has received sufficient and accurate information from management to make that determination.

What is the oversight responsibility of the board?

The board oversight role involves serving as a resource to the CEO for advice and guidance along with serving as a check and balance; a point of accountability to ensure achievement of board approved objectives.

What is the role of the oversight committee?

The oversight committee should understand key information from the grants and the national context, analyze root causes of underperformance and together with implementers, develop possible solutions.

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