Title
Draft Resolution - Review and Approval of Enterprise Risk Management (ERM) Governance Policy - B Headrick
Other Info
Submitted By: Audri Nelson on behalf of Bridget Headrick
Department: Compliance and Regulatory
Financial Impact and Cost/Benefit Considerations: N/A
Discussion
Pursuant to the Board’s Policy on Policies, the Board routinely reviews all Board policies as part of its policy management. Under the Board’s review schedule, the Board may consider review of the Enterprise Risk Management (ERM) Governance Policy. The purpose of the ERM Governance Policy is to establish the ERM Program to improve the likelihood of achieving strategic and business objectives and to eliminate or reduce the impact of unplanned events at PEC. The ERM Governance Policy establishes guidelines for implementation and ongoing improvement of PEC’s ERM Program. The ERM Program involves understanding the risks facing the Cooperative, assessing exposure, and taking action to effectively respond to preserve and maximize value for the Members.
Body
BE IT RESOLVED BY THE BOARD OF DIRECTORS that pursuant to its regular review of Board policies, the Board has reviewed and adopts the Enterprise Risk Management (ERM) Governance Policy, with such changes, if any, as were approved by the Board; and
BE IT FURTHER RESOLVED that the Chief Executive Officer, or designee, is authorized to take all such actions as may be necessary to implement this resolution.