Section 26Sec./Art. 26

Risk Management Committee. - The Board shall organize a Risk Management Committee composed of five (5) members as follows:

(a) One (1) Independent Director as Chairperson;

(b) One (1) ex officio member of the Board;

(c) One (1) Regular Director; and

(d) Two (2) senior executives of the MIC, one of whom is the key risk management officer.

The Risk Management Committee shall ensure that the MIC is taking the appropriate measures to achieve a prudent balance between risk and reward in both ongoing and new business activities, taking careful consideration of risk identification, measurement and assessment, mitigation, reporting and monitoring.