Executives for the $21 billion Virginia Retirement System, Richmond...

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, including such areas as custody and auditing, she said. A single document of risk management controls and procedures is expected to be in place by year end, although the risk management process will never be finished, she said.