HC-3.2 HC-3.2 Mapping of Risks and Responsibilities[versions up to January 2011]
HC-3.2.1 [versions up to January 2011]
The requirements in this section do not apply to
captive insurance firms but should be considered as guidance.Amended: January 2007HC-3.2.2 [versions up to January 2011]
In conjunction with the Board, the
Chief Executive Officer /General Manager must maintain a clear mapping of the risks faced by the business and document the organisational and other controls maintained to meet those risks.Amended: January 2007HC-3.2.3 [versions up to January 2011]
In conjunction with the Board, the
Chief Executive Officer /General Manager must maintain a clear and appropriate apportionment of significant responsibilities amongst senior management.Amended: January 2007HC-3.2.4 [versions up to January 2011]
The apportionment must be clear as to who has which responsibility, and must permit the business and affairs of the licensee to be adequately monitored and controlled by the Board, the
Chief Executive Officer /General Manager , and relevantheads of function .Amended: January 2007HC-3.2.5 [versions up to January 2011]
The apportionment must also ensure appropriate segregation of duties where these are required for effective controls.
