Audit and Risk Management Sample Clauses

Audit and Risk Management. The internal audit function for the Authority is outsourced to an external service provider following a procurement process. The contract for this service is due to expire in January 2021. An Audit and Risk Committee, consisting of two members external to the Authority together with one Authority member, was established in July 2016 under an Audit and Risk Committee Charter, which requires that the Committee meet at least four times each year. The Committee provides independent advice to the Authority and the Accounting Officer regarding (inter alia) the suitability and robustness of the organisation’s internal control, internal audit, risk management and governance systems and procedures. The Authority has a comprehensive risk management policy in place. Its risk register is maintained by the Authority’s Chief Risk Officer and is updated on an ongoing basis to reflect new risks arising at all levels in the organisation and changes in controls to mitigate risks. The risk register is also reviewed by the Audit and Risk Committee each quarter, while the Authority reviews the full register at least once per annum. Risk management is a standing item on the Authority’s monthly meeting agenda, with a monthly risk management report reviewed and specific risks discussed. Risk, and associated mitigation measures, are addressed in the context of all significant Authority discussions and decisions. Procedures to manage risk are in place throughout the organisation and are a standing agenda item at management, team, staff and project meetings. A summary of key risks identified and managed by the Authority as part of its risk management system will be provided to the Department routinely and at least as part of each governance meeting.
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Audit and Risk Management. The internal audit function for the Authority is outsourced to an external service provider following a procurement process. An Audit and Risk Committee, consisting of two members external to the Authority together with one Authority member2, was established in July 2016 under an Audit and Risk Committee Charter, which requires that the Committee meet at least four times each year. The Committee provides independent advice to the Authority and the Accounting Officer regarding (inter alia) the suitability and robustness of the organisation’s internal control, internal audit, risk management and governance systems and procedures. The Authority has a comprehensive risk management policy in place. Its risk register is maintained by the Authority’s Chief Risk Officer and is updated on an ongoing basis to reflect new risks arising at all levels in the organisation and changes in controls to mitigate risks. The risk register is also reviewed by the Audit and Risk Committee each quarter, while the Authority reviews the full register at least once per annum. Risk management is a standing item on the Authority’s monthly meeting agenda, with a monthly risk management report reviewed and specific risks discussed. Risk, and associated mitigation measures, are addressed in the context of all significant Authority discussions and decisions. Procedures to manage risk are in place throughout the organisation and are a standing agenda item at management, team, staff and project meetings. A summary of key risks identified and managed by the Authority as part of its risk management system will be provided to the Department routinely and at least as part of each governance meeting.
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Audit and Risk Management. GSOC has a risk management policy and process in place led by the Director of Administration who is the designated Risk Management Officer (RMO). The RMO is supported by a Risk Management Monitoring Group (RMMG) comprising heads of business units and other key personnel, which meets on a regular basis to review and, as required, update GSOC's risk register. Risk management is a standing agenda item at the Ombudsman Commission’s monthly meeting, with a monthly risk management report reviewed and specific risks discussed. The risk register is reviewed in full at least once annually by the Ombudsman Commission. Procedures to manage risk are in place throughout GSOC and are a standing agenda item at management, team, staff and project meetings. A summary of key risks identified and managed by GSOC will be provided to the Department routinely at each governance meeting. Details of key risks will be provided to Criminal Justice Governance (Performance & Compliance). The Department’s Internal Audit Unit (IAU) supports GSOC in monitoring and reviewing the effectiveness of its arrangements for internal governance, risk management and internal control. Audit work is agreed between the Head of Internal Audit and GSOC, with the IAU carrying out audits within an agreed timeframe. The Department’s Audit Committee provides further support in verifying that the interests of Government and other stakeholders are protected through appropriate internal controls and business/financial reporting.
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Audit and Risk Management 
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Related to Audit and Risk Management

  • Risk Management Except as required by applicable law or regulation, (i) implement or adopt any material change in its interest rate and other risk management policies, procedures or practices; (ii) fail to follow its existing policies or practices with respect to managing its exposure to interest rate and other risk; or (iii) fail to use commercially reasonable means to avoid any material increase in its aggregate exposure to interest rate risk.

  • Administration and Risk Management Employees of Federated Advisory Services Company provide support to portfolio managers and other employees of affiliated advisers. Such services may include development of risk management programs, production of portfolio and compliance reports for clients and/or fund Boards, coordination of client portfolios and related fixed income trade execution implementation and administration, completion of required broker and custody documentation, development and documentation of operational procedures, coordination of proxy voting activities, on-site support of hardware and software, etc.”

  • MANAGEMENT OF EVALUATION OUTCOMES 11.1 The evaluation of the Employee’s performance will form the basis for rewarding outstanding performance or correcting unacceptable performance.

  • Monitoring and Evaluation a. The AGENCY shall expeditiously provide to the COUNTY upon request, all data needed for the purpose of monitoring, evaluating and/or auditing the program(s). This data shall include, but not be limited to, clients served, services provided, outcomes achieved, information on materials and services delivered, and any other data required, in the sole discretion of the COUNTY, that may be required to adequately monitor and evaluate the services provided under this Contract. Monitoring shall be performed in accordance with COUNTY’S established Noncompliance Standards, a copy of which is attached hereto and incorporated by reference as Attachment “C”.

  • Management (a) The General Partner shall conduct, direct and manage all activities of the Partnership. Except as otherwise expressly provided in this Agreement, all management powers over the business and affairs of the Partnership shall be exclusively vested in the General Partner, and no Limited Partner shall have any management power over the business and affairs of the Partnership. In addition to the powers now or hereafter granted a general partner of a limited partnership under applicable law or that are granted to the General Partner under any other provision of this Agreement, the General Partner, subject to Section 7.3, shall have full power and authority to do all things and on such terms as it determines to be necessary or appropriate to conduct the business of the Partnership, to exercise all powers set forth in Section 2.5 and to effectuate the purposes set forth in Section 2.4, including the following:

  • Program Monitoring and Evaluation (c) The Recipient shall prepare, or cause to be prepared, and furnish to the Association not later than six months after the Closing Date, a report of such scope and in such detail as the Association shall reasonably request, on the execution of the Program, the performance by the Recipient and the Association of their respective obligations under the Legal Agreements and the accomplishment of the purposes of the Financing.”

  • Financial Management System Subrecipient shall establish and maintain a sound financial management system, based upon generally accepted accounting principles. Contractor’s system shall provide fiscal control and accounting procedures that will include the following:

  • Patch Management All workstations, laptops and other systems that process and/or 22 store PHI COUNTY discloses to CONTRACTOR or CONTRACTOR creates, receives, maintains, or 23 transmits on behalf of COUNTY must have critical security patches applied, with system reboot if 24 necessary. There must be a documented patch management process which determines installation 25 timeframe based on risk assessment and vendor recommendations. At a maximum, all applicable 26 patches must be installed within thirty (30) calendar or business days of vendor release. Applications 27 and systems that cannot be patched due to operational reasons must have compensatory controls 28 implemented to minimize risk, where possible.

  • Network Management 60.1 CLEC and CenturyLink will exchange appropriate information (e.g., network information, maintenance contact numbers, escalation procedures, and information required to comply with requirements of law enforcement and national security agencies) for network management purposes. In addition, the Parties will apply sound network management principles to alleviate or to prevent traffic congestion and to minimize fraud associated with third number billed calls, calling card calls, and other services related to this Agreement.

  • Banking Operations Enter into any new material line of business; change its material lending, investment, underwriting, risk and asset liability management and other material banking and operating policies, except as required by applicable law, regulation or policies imposed by any Governmental Authority; or file any application or make any contract with respect to branching or site location or branching or site relocation.

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