Enterprise Risk Management Framework
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Overview
Risk can be defined as the potential for loss caused by an event or series of
events that can adversely affect the achievement of a company’s business
objectives.
Our mission is "To provide innovative, cost effective, and prudent investment
management services that address the investment challenges of New Brunswick
based public sector funds."
To achieve this mission, our business processes, whether they are
strategically-focused, investment related or operational in nature, must
continually balance risk and return.
Our enterprise risk management framework has been put in place to integrate
strong corporate oversight with a series of well-defined independent risk
management systems and processes. Our risk management process involves the
participation of the NBIMC Board, management, and external service providers.
An outline of the risk governance structure is provided in Appendix A.
The following document presents our philosophy and approach to management of
risk by identifying:
- the types of risks we are facing in our normal business and investment
operations and,
- which parties are accountable for monitoring each risk type, while also
outlining the means and timing through which we seek to measure and manage
these risks.
We believe that these risk management processes will significantly contribute
to maximizing the long-term investment returns within the confines of acceptable
levels of risk.
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