Risk Management Committee

Duties and Responsibilities:

1. To assist the Board in its oversight responsibility over Management’s activities in managing risks involving physical, financial, operational, labor, legal, security, environmental and other risks of the corporation.
2. To conduct a yearly evaluation of the company’s risk assessment and risk management program and ensure that appropriate controls are in place.
3. To recommend to the Board risk mitigation/control measures/schemes that require immediate/urgent implementation.
4. To meet periodically with the Audit and Governance Committee, key management, and internal and external auditors to understand and discuss the control environment.
5. To review the financial exposures and investment guidelines of the Corporation together with the mitigating strategies, including insurance and other risk financing schemes being undertaken and its performance.
6. To review periodically the security, safety and physical loss control measures and the specific Emergency Response Plan adopted by the company to ensure that all risks are adequately covered.
7. To review annually and re-assess the adequacy of this charter and recommend any proposed changes to the Board.