The Public Authority of Awqaf values the importance of risks and manages them efficiently, and constantly monitors it to optimize its strategies. Promoting the role of endowments in economic and social development and social solidarity, as risks are an inevitable part of any institutional activity. A challenge in the attributes work of the Commission. A department specializing in the governance of potential risks by monitoring, analysis, and assessment. Proactively promote the value and optimal use of resources. To assist in making decisions based on the specific risk of the work, in addition to providing the necessary assurances to the beneficiaries about the provision of the Public Authority of Awqaf the regulatory environment with transparency and governance.
We are aware that inattention and inadequate investment in proactive risk and control results in several unforeseen events leading to losses that may be difficult to cope with or the costs of dealing with. As a result, guidance has been given to working continuously with all members of the Executive Management Members to build integrated risk records and periodically review the reports.
The establishment of a Department of Risk Control in the General Authority of Awqaf reflects a high level of management maturity. Enterprise risk management promotes a gaudiness of risk management with the support of the Risk Committee, which is chaired by the Governor of the GAA. Development of structured policies, procedures, and regulations for risk control operations as well as the determination of controls within global best practices and standards. It also enables the principles of responsibility. Review the risks of all departments regularly and monitor the performance of risk management in a way that.
Risk Management Committee