Material Risk
Takers include heads of significant business lines such as fixed income, foreign exchange, commodities, securitization, sales areas, investment banking, commercial banking, equities, structure finance, lending, trading areas
Amended by the 2003 legislature, the statute mandates disclosure of "recognized material risks
of serious complications or mortality" but does not define the word "material." This amended language replaced the earlier version's "recognized, serious, possible risks, complications and anticipated benefits," arguably lightening the doctor's duty regarding risk disclosure.
EXHIBIT 4 Isolating Which Mitigation Levers Work Best Supplier Risk Material Risk
Impact Mitigation Attribute Attribute Attribute Levers 1 2 3 1 2 3 1 2 3 Level 1 X X X X Level 2 Level 3 X X X X Level 4 Level 5 X X X Level 6 Level 7 X X X Level 8 X X X Level 9 X X Level 10 X Level 11 X X Level 12 X X X
Even those jurisdictions which have adopted the material risk
standard also embrace the concept that if a risk itself is not material, it need not be addressed with the patient.
In his reply dated August 2, Mr Woods said the threat of fallout across the City from the UK's withdrawal from the EU poses a "material risk
to our objectives and this work is therefore a top priority".
It says that the insurance industry has provided no independent evidence of the level of fraud claims, nor has it flagged them up to shareholders as a "material risk
", which it should do if they were a significant threat to business.
He was one of 71 so-called "material risk
takers" handed PS25million between them.
"We're not going to move forward with anything that has material risk
," he said.
"The pervasive use of Bash and the potential for this vulnerability to be automated presents a material risk
," the Federal Financial Institutions Examinations Council said.
Progress reports highlight the difference that enterprise risk management makes in your organization and should be reported in at least two ways: by material risk
and by ERM program progression.
Regulators, investors, clients and other stakeholders expect risk managers to understand every material risk
facing a business.
In December, Multiplex warned there was a "material risk
" the stadium would not be ready, but the spokesman said the position had improved.