AARC supported the Green Climate Fund (GCF), the world’s largest dedicated fund helping developing countries reduce their greenhouse gas emissions and enhance their ability to respond to climate change, in delivering a program of support to the internal risk management team addressing:

  • Risk Management Framework (RMF) including a Risk Appetite Statement, Revised Risk Register, Risk Dashboard and Risk Guidelines for Funding Proposals.
  • Other RMF components including the Investment Risk policy, Non-financial Risk policy and Funding Risk policy.


The purpose of the Risk Control Self-Assessment (RCSA) is to identify, assess and mitigate the Operational Process Error Risk and IT Risk described in the Non-financial Risk policy, through the development and continuous evolution of appropriate controls. Each Risk Control Self-Assessment (RCSA) is expected to be conducted by the “Risk Owner” for the respective process, or IT Risk, in collaboration with the Office of Risk Management and Compliance (ORMC)