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RM-1.1.9

In assessing the systems and controls framework, the CBB would expect the Board to be able to demonstrate that it provides suitable prudential oversight and establish a risk management system that includes setting and monitoring policies so that all major risks are identified, measured, monitored and controlled on an on-going basis. The risk management systems should be approved and periodically reviewed by the Board as outlined in Paragraph HC-1.1.5.

Amended: January 2007