Governance and Compliance

The mission of the Governance and Compliance Committee is to ensure that the Global Centre for Risk and Innovation (GCRI) adheres to the highest standards of governance and compliance. The committee's work is crucial in maintaining the integrity and accountability of the organization, ensuring that all operations are conducted in line with global standards, and are responsive to regional nuances and legal requirements.

Mandate

The Governance and Compliance Committee's mandate includes overseeing the development, implementation, and maintenance of governance structures and compliance mechanisms within GCRI. This encompasses:

• Reviewing and enhancing policies and procedures to ensure they meet international regulations and best practices.

• Ensuring that GCRI’s activities are compliant with legal and ethical standards across different jurisdictions.

• Monitoring adherence to internal governance frameworks to safeguard transparency and accountability.

• Addressing any issues of non-compliance and proposing corrective actions to prevent future occurrences.

Composition

The committee is typically composed of senior leaders and experts in law, ethics, risk management, and international compliance. Members are often drawn from diverse backgrounds to provide a wide range of insights and expertise. This can include:

• By default all GSB members

• Legal advisors familiar with international and regional law.

• Ethics officers who specialize in organizational ethics and compliance.

• Senior executives with experience in governance and strategic management.

• External consultants or advisors, especially in regions with specific compliance challenges.

Roles

• Policy Development and Review: Drafting and revising governance policies and compliance procedures to enhance organizational integrity and adherence to laws and standards.

• Compliance Monitoring: Regularly assessing the organization’s activities for compliance with legal and regulatory requirements, as well as with internal policies.

• Risk Assessment: Identifying potential areas of compliance risk and developing strategies to mitigate these risks.

• Training and Awareness: Organizing training sessions for GCRI leaders and new members to ensure they are aware of governance and compliance requirements and understand their roles in maintaining them.

• Reporting: Providing regular reports to the Board of Trustees and the General Assembly on governance and compliance issues, improvements made, and ongoing risks.

• Advisory Role: Acting as a consultative body to other committees and boards within GCRI, ensuring that all organizational decisions are made with a clear understanding of governance and compliance implications.