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C4-4.1.2

Category 4 investment firms must have a risk management function, independent of risk-taking, commensurate with the nature, scale and complexity of their business. The duties of the risk management function include but are not limited to:

(a) Identifying, measuring, monitoring, and controlling the major sources of risks associated with the operations of the licensee including any entity it may own, control or manage on an ongoing basis;
(b) Reporting to the Board and senior management on all material risks the licensee is exposed to; and
(c) Documenting the processes and systems by which it identifies and monitors material risks, and how it reports to the Board and senior management these risks.
Added: January 2022