The management of GLG Corp is responsible to the Board of GLG Corp for the following:
Approving GLG Corp’s risk management policy and its effective implementation;
Endorsement of any changes to the GLG Corp’s risk management framework, including key policies and procedures to reflect new developments;
Monitoring compliance with the endorsed risk management framework through management reporting to the Board of GLG Corp in Board meetings; and
Delegating authority to staff, where appropriate
The Board regularly reviews business risks applicable to the business and ongoing operations. Additionally, the Board considers risk profiles as part of the annual strategy review and budget planning review. The effectiveness of risk management is unavoidably linked to management competence, commitment and integrity, all of which forms the basis of sound Corporate Governance.