Executives for the $21 billion Virginia Retirement System, Richmond, are upgrading risk management, bringing together the system's various risk procedures into a single documented process, said Nancy Everett, managing director.
System officials are evaluating risk management processes at all levels, and in all areas, including areas such as custody and auditing, Ms. Everett said. A single document of risk management controls and procedures is expected to be in place at Virginia by year end, although the risk management process will never be finished, she said.
