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Quarterly Risk Management and Compliance Report
NAIF’s quarterly Risk Management and Compliance Report (RMAC Report) provides ongoing monitoring and reporting of NAIF’s Key Enterprise Risks (KERs). It includes an analysis of the residual risk rating, tolerance measures and control effectiveness for each KER including any proposed changes from the previous quarter.
Commentary is included for each KER highlighting relevant activity over the current quarter and whether this activity has impacted the residual risk rating.
Should a KER be assessed as outside appetite, for example due to control failures and/or tolerance breaches, an action plan to address deficiencies is developed and monitored by the risk owner.
BARC endorsed the RMAC Reports for Board approval for each quarter of FY19-20.