24 NCAC 06A .0414. Risk Management Framework

(a) The Operator shall implement and maintain an effective risk management framework. This framework may be provided in-house by a unit capable of performing this function with appropriate segregation of functions and reporting duties, or by a Supplier. (b) The Internal Controls shall contain a description of the risk management framework, including but not limited to: (1) automated and manual risk management procedures; (2) employee management, including access controls and segregation of duties; (3) information regarding identifying and reporting fraud, suspicious conduct, or Suspicious or Illegal Wagering Activity; (4) controls ensuring regulatory compliance; (5) description of anti-money laundering compliance standards; (6) description of software applications that comprise the system used for Wagering; (7) description of types of Wagers available to be offered by the Operator; (8) description of the procedures to prevent past posting of Wagers; (9) description of the procedures to cancel or void a Wager; (10) description of the procedures to prevent individuals from placing Wagers as agents or proxies for other Individuals or Persons; (11) description of integrated third-party platforms; and (12) other information that may be required by the Commission.