RISK MANAGEMENT AND GOVERNANCE

RISK MANAGEMENT PROGRAM

As Canada’s national public broadcaster, we occupy an important place in the Canadian broadcasting system and face a unique set of risks to its plans and operations. Like all broadcasters, we must adapt to technological changes, shifts in demographics and evolving consumer demands, as well as structural changes in the industry. Given our statutory mandate to serve all Canadians, we also face unique public expectations and financial challenges.

It is our policy to develop, implement and practice effective risk management to ensure risks and opportunities that impact strategies, objectives and operations are identified, assessed and managed appropriately.

Our Risk Management Program is part of an enterprise-wide approach integrated into business processes. Responsibility for risk management is shared among our Board of Directors, the Board’s Audit Committee, our Senior Executive Team and our operational units.

1	BOARD The Board oversees our key risks at a governing level, approves major policies, and ensures that the processes and systems required to manage risks are in place.
2	AUDIT COMMITTEE The Audit Committee of the Board discharges its stewardship and oversight responsibilities over risk management by monitoring key risks, discussing their status with management at quarterly Audit Committee meetings and ensuring that management has programs for evaluating the effectiveness of internal controls.
3	SENIOR EXECUTIVE TEAM The Senior Executive Team identifies and manages risks, reports on our key risks to the Audit Committee and the Board, recommends policies, and oversees financial reporting and internal control systems.
4	MEDIA AND SUPPORT BUSINESS UNITS Media and support business units initially identity and assess risks through the annual business plan process, and develop and execute detailed plans to manage risks. Risks are prioritized based on their potential impacts and their likelihood of occurring.