The Operating Risk Committee is a board appointed committee charged with addressing those emerging issues that require a proactive effort of FIRMA. The Operating Risk Committee will address specific risks and other issues impacting FIRMA’s infrastructure or as delegated by the Board of Directors of FIRMA.
Committee participation requires certified or sustaining FIRMA members of good standing. The committee shall be chaired (or co-chaired) by a member of the Board of Directors of FIRMA. A non-Board member may also be appointed to act as co-chairperson of the Operating Risk Committee. The Executive Director of FIRMA will be an ex-officio member.
The Operating Risk Committee is established to identify, advise, and address emerging issues arising from the regulatory marketplace as requested by the Board and how those issues impact the administration and operation of FIRMA.
Actions, decisions, or recommendations from the committee may result in changes in the polices and /or practices of FIRMA, expansion of or sharing of ideas and practices, development of conference or training agenda, or recommendations for action of other FIRMA committees.
The Board of Directors of FIRMA has delegated the following responsibilities to the Operating Risk Committee:
The Committee will meet no less than quarterly, but as frequently as necessary to conduct its activities. Minutes of the meeting shall be maintained and copies shall be forwarded to the Executive Secretary of the Board of Directors of FIRMA. There are no term limits, but members are asked to attend not less than 66% of the Committee’s meetings.
Bruce K. Goldberg, CTA, CPA
Deloitte & Touche, LLP
New York, NY