SCA’s Risk Management Policy
The Securities and Commodities Authority (SCA) aims to become a model to emulate and the leading supervisory authority across the United Arab Emirates in the application of the Business Continuity, Risk Management, and Institutional Crisis Framework. It seeks to do so by developing administrative approaches to address institutional challenges, taking advantage of available opportunities, and applying best practices in this area—all of which will help it to strengthen the confidence of related parties, mitigate risks that affect business continuity and sustainability, and realize its strategic objectives. This is done by making sure that the Business Continuity, Risk Management, and Institutional Crisis Policy is being continually improved—whether in terms of the regulations, rules, or procedures in place, or the actual application. The senior management is committed to supporting those in charge and providing the resources, technologies, and training needed to ensure effective and efficient application of relevant processes.
As such, this policy governs the rules, regulations, and actions taken to address the risks associated with SCA’s wide range of activities. This will help to achieve sustainable development in line with the rules and powers provided for in SCA’s establishing law and the relevant policies. The objective of this policy is to ensure that all related parties understand the concept of business continuity, risk management, and institutional crisis and that they are aware of their obligations when it comes to managing business continuity, risks, and crises that accompany all of SCA’s institutional activities. This comes as part of the efforts to assess and improve the effectiveness of internal supervision and audit and institutional governance, which will result in high and sustained achievement rates. The Regulatory Policies & Future Foresight Section in collaboration with concerned departments are responsible for identifying, classifying, and assessing risks; presenting options to handle risks; and reviewing the effectiveness of the framework on a regular basis using sound professional approaches, thus ensuring the implementation of the above and adding sustainable value to SCA’s activities and operations.
Dr. Obaid Al Zaabi