Defined authority
Commercial and operational decisions should follow documented authority levels appropriate to their risk.
Governance
Authority, accountability and escalation.
Good governance makes clear who may approve a counterparty, commit commercial terms, accept an exception and release sensitive information.
Conflicts and conduct
Potential conflicts of interest and conduct concerns should be disclosed, assessed and managed.
Escalation
Material changes, red flags and exceptions require timely escalation rather than informal workarounds.