Specifies the key elements of a risk management framework: risk governance and a risk appetite framework; the responsibilities of the board and senior management (setting risk appetite and monitoring, firm-wide risk management, specialised committees); risk management policies, procedures and limits including new products and services; risk management systems and processes (an independent risk management function, risk MIS, measurement and assessment, risk-adjusted performance measurement, sensitivity analysis and stress-testing); and internal controls, audit and compliance. Classification: a statutory guideline issued by the Monetary Authority under the Banking Ordinance §7(3); version V.3, 06.10.2017; applies to all AIs.
The graph holds this control, the 0 it maps to, and the evidence behind each claim, over MCP and REST.