Good Governance - Guideline 7. Risk management
There is a documented and well defined risk management framework that supports the strategic plan. The framework consists of a coordinated set of principles, policies, processes, roles and responsibilities, and infrastructure to guide the actions of the institution in confronting risks. It facilitates the identification, assessment, mitigation, treatment, monitoring and timely communication of risk and its impacts. The Head of management sets the tone at the top and leads by example to promote and strengthen the institution’s risk culture.