1.1.2—Organizational Structure and Risk Culture
>Control Description
FRFIs should:
Establish an organizational structure for managing technology and cyber risks across the institution, with clear roles and responsibilities, adequate people and financial resources, and appropriate subject-matter expertise and training;
Include among its Senior Management ranks persons with sufficient understanding of technology and cyber risks; and
Promote a culture of risk awareness in relation to technology and cyber risks throughout the institution.
Please refer to OSFI's Corporate Governance Guideline for OSFI's expectations of FRFI Boards of Directors regarding business strategy, risk appetite and operational, business, risk and crisis management policies.
>Cross-Framework Mappings
Ask AI
Configure your API key to use AI features.