For the complete documentation index, see llms.txt. This page is also available as Markdown.
LRM1: Process to Implement Governance Policies
Maximum Score
2 points
Prefill
Eligible
Validation
Other answer is manually validated
Does the lender have processes to implement governance policy/policies?
Assessment Instructions
Intent: What is the purpose of this indicator?
This indicator examines specific actions taken to limit exposure to governance-related risks. It refers to the implementation of the policy that addresses risks from exposure to governance issues.
Input: How do I complete this indicator?
Select yes or no. If yes, select all applicable sub-options.
Terminology
Governance risks for employees
Examples can include, but are not limited to: bribery and corruption risks, insider trading, sharing of confidential information.
Regular follow-ups
Training offered at least once a year to employees, starting from their second year of employment.
Training related to governance risks for employees
Employee training ensures that employees understand and adhere to the laws, regulations and internal corporate policies that apply to their daily roles is essential to ensuring that compliance regulations are met in the workplace.
Whistle-blower mechanism
A process that offers protection for individuals that want to reveal illegal, unethical or dangerous practices. An efficient whistle-blower mechanism prescribes clear procedures and channels to facilitate the reporting of wrongdoing and corruption, defines the protected disclosures, outlines the remedies and sanctions for retaliation.
Validation: What evidence is required?
No evidence required. Only the 'Other' answer is manually validated.
Other Answer
State the other system or procedure in place. Ensure that the other answer provided is not a duplicate of a selected option above (e.g., Anti-bribery training when 'Training related to governance risks for employees' is selected). It is possible to report multiple other answers. If multiple other answers are acceptable, only one will be counted towards scoring.
