2012 Spring Report of the Auditor General of Canada

Spring 2012 Report—Chapter 3

Exhibit 3.7—The Governance Framework manages risks

This organizational chart shows the various groups that make up the Governance Framework that manages risks related to the public debt.

At the top of the chart is the Minister of Finance. Reporting to the Minister are the Funds Management Committee, the Risk Committee, and supporting committees and working groups. The Risk Committee, and supporting committees and working groups report to the Minister through the Funds Management Committee. The Funds Management Committee is a decision-making committee that advises the Minister on strategies for funds and risk management, directs the implementation of the approved debt strategy and plans, and reviews performance reports.

The Risk Committee reviews and gives opinions on the risk implications of market and operational developments and on debt strategy recommendations. The Financial Risk Office reports to the Risk Committee. This Office Advises the Risk Committee on the risk issues related to proposals and recommendations for the debt strategy as well as analyzes financial and operational risk exposures.

Reporting to the Funds Management Committee are supporting committees and working groups. These committees and groups coordinate work on funding and investment activities at a strategic level.