The Board shall be responsible for framing, implementing and monitoring the risk management plan for the company.
The Board shall define the roles and responsibilities of the Risk Management Committee and may delegate monitoring and reviewing of the risk management plan to the Committee and such other functions as it may deem fit.
Ensure that the appropriate systems for risk management are in place.
The independent directors shall help in bringing an independent judgment to bear on the Board's deliberations on issues of risk management and satisfy themselves that the systems of risk management are robust and defensible;
Participate in major decisions affecting the organization's risk profile;
Have an awareness of and continually monitor the management of strategic risks;
Be satisfied that processes and controls are in place for managing less significant risks;
Be satisfied that an appropriate accountability framework is working whereby any delegation of risk is documented and performance can be monitored accordingly;
Ensure risk management is integrated into board reporting and annual reporting mechanisms;
Convene any board-committees that are deemed necessary to ensure risk is adequately managed and resolved where possible