Our Board of Directors is responsible for overseeing ICE's risk management process, which includes management of general operational risks, as well as particular risks facing our various businesses. With the assistance of our Audit and Risk Committees and our Subsidiary Boards, the Board oversees that our assets are properly safeguarded, that appropriate financial and other controls are maintained, and that our business is conducted prudently and in compliance with applicable laws, regulations and our corporate governance guidelines.
We have an Enterprise Risk Management team, led by the Chief Corporate Risk Officer. The team includes regional Chief Risk Officers that oversee each business unit: clearing houses, exchanges, trade repositories and the data and benchmark services.
We employ a three-lines model to enterprise risk management, a concept endorsed by the Institute of Internal Auditors. This framework helps ensure strong redundancies and preparation.
ICE ensures both the physical and digital security of our markets, clearing houses and data through industry-leading security technology and processes. Our Information Security Department consists of diverse and skilled teams that work to protect confidential data and systems from unauthorized access, misuse, disclosure, destruction, modification or disruption.
Our Crisis Management team handles our end-to-end response to any potential issues and regularly conducts global drills to ensure our processes are ready to be implemented. All mission-critical functions are tested for responsiveness and business continuity. Following each acquisition of a new company, this process is reviewed to ensure crisis management procedures are in place across our entire organization.
Employees are trained annually on our business continuity procedures to ensure readiness and understanding.