Page 66 - UBP - IR2020

MANAGEMENT APPROACH
Risk management report
Risk Risk Category Risk Risk Strategic Implication
Risk-Mitigating Actions
Completed Ongoing
Operational
Vulnerability to damage resulting from natural disasters and increasing climate variability affecting crops All - Business interruption - Business Continuity Plans (BCP) including comprehensive crisis communication protocols have been devised for the Group - Crop management and planting season adaptation measures - The Group subscribes to insurance policies to mitigate the financial impact of natural disasters Technological
Likelihood of cybercrimes All - Loss of valuable data and business interruption - IT security measures were heightened - - Cyber-attack awareness sessions were held in 2019 - Continuous security software upgrades - The possible extension of the Group’s insurance cover to include cybercrimes Technological
and people
IT Resource allocation with high dependencies on
certain IT personnel Objectives 1 and 4 - Affects our ability to have continuous efficient procedures and have staff able to problem-shoot IT related issues - A heightened focus was put on
the training of our middle management on
all IT processes and tools as part of our strategic focus 2018-2020 - A Succession Plan Policy was defined Technological
& marketing and customer risks
Risk of falling behind the technological development
curve and risk of obsolescence All - Technology today permeates all aspects of business and social life potentially affecting our ability to innovate engage with customers ensure synergy between inter alia departments and companies - Switch to Office 365
- Launch of the new version of the e-commerce website of Espace Maison - - A Group-wide digitalisation and modernisation plan of all systems is being pursued 66 - UBP INTEGRATED REPORT 2020