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Advent has a robust risk management framework to identify, evaluate, monitor and manage all material risks.
A Risk Management Committee, composed of senior management and chaired by a Non-Executive Director, has overseen the development and implementation of the risk management framework.
The Risk Committee ensures that key information and material risks are escalated to the Board of Directors, who retain primary responsibility for risk management, and ensure that appropriate action is taken whenever risks fall outside of their agreed risk appetite.
The Risk Management function co-ordinates the day-to-day risk management activity, and oversees each of Advent's risk owners. This allows the function, led by the Chief Risk Officer, to take an overall view of Advent's risk profile and to report this to the Risk Committee on a quarterly basis.