Monitoring Other Risk Management Areas

Finance committees are also often charged with ensuring compliance and/or developing other policies that further serve to protect the organization and manage its exposure to risk. These include establishing policies for:

• Executive compensation packages and personnel management (in the absence of a separate human resources committee)
• Long-term contracts or leases
• Loans or lines of credit
• Internet use and computer security
• Capital purchases
• Gift acceptance including disposition of donated stock (in the absence of a separate investment committee)
• Record retention and destruction