The responsibilities and duties outlined in this sample can be used to establish a risk management oversight committee charter.

The risk management oversight committee must monitor the organization's risk environment and provide direction for the activities to mitigate, to an acceptable level, the risks that may adversely affect the company’s ability to achieve its goals. The committee facilitates continuous improvement of the company’s capabilities around managing its priority risks. In addition, the committee will support the audit committee’s efforts to monitor and evaluate guidelines and policies to govern the process by which risk assessment and management are undertaken.