Board Decisions

GF/B46/DP05:

Approved by the Board on: 10 November 2021

The Board:
1. recalls its ultimate responsibility to the Global Fund’s stakeholders for overseeing the implementation of effective risk management;
2. affirms the Strategy Committee’s concurrence with the amended Risk Appetite Statements under such committee’s oversight, as set forth in Annex 1 to GF/SC17/14_Rev2 and pursuant to decision point GF/SC17/DP02;
3. further affirms the Audit and Finance Committee’s concurrence with the amended Risk Appetite Statements under such committee’s oversight, as set forth in Annex 1 to GF/AFC17/02_Rev2 and pursuant to decision point GF/AFC17/DP02; and
4. instructs the Secretariat to provide greater reporting on emerging risk trends and the effectiveness and results of the assurance measures, including the additional assurances put in place.
Based upon the recommendation of the Audit and Finance Committee, the Board approves the amended Risk Appetite Statements, including risk appetites, target risk levels and timeframes to achieve target risk, as set forth in Annex 1 to GF/B46/06, acknowledging that the target risk level for each risk shall become the revised risk appetite at the target due date.
This decision point and the amended Risk Appetite Statements approved by it shall supersede decision point GF/B39/DP11 (May 2018).