This tool contains questions to consider for improving an organization’s risk management capabilities by evaluating its risk management executive committee (RMEC).
Questions to consider include: Is there a need for an RMEC? Does the executive committee have time to focus on the issues, or is it necessary to designate a separate committee? If there is an RMEC, who is on it? What are its roles and responsibilities? How does the committee interface with the strategy-setting process? Does the organization designate a single officer to assume certain overall responsibilities for risk management? Is this officer independent of the core business activities?