Chance that a borrower or trade debtor will not repay an obligation as promised. The discounting, or sale at a discount, of receivables on a nonrecourse, notification. basis. The purchaser of the accounts receivable, the factor, assumes full risk of collection and.
Disclosure and Barring Service. The Disclosure and Barring Service (DBS) helps employers in England, Wales and Northern Ireland make safer recruitment decisions and prevent unsuitable people from working with vulnerable groups, including children. The DBS decides whether it is appropriate for a person to be placed on or removed from a barred list.
The second line of defence is the enterpriseâs compliance and risk functions that provide independent oversight of the risk management activities of the first line of defence. The compliance and risk functions may have their own management and governance committees that are part of the ERM framework, or they may have direct reporting lines into appropriate ERM framework structures.