As part of the risk-management function, the operational risk-management function of a CSD shall manage the CSD's operational risk. It shall in particular:

(a) develop strategies, policies and procedures to identify, measure, monitor and report on operational risks;

(b) develop procedures to control and manage operational risks, including by introducing any necessary adjustments in the operational risk-management system;

(c) ensure that the strategies, policies and procedures referred to in points (a) and (b) are properly implemented.