Page 93 - UBP - IR2020

CORPORATE GOVERNANCE
Risk Monitoring
Following the the implementation of of the the ERM a a a a a risk monitoring exercise was initially undertaken by Messrs BDO & Co in in in in view of of monitoring and reporting the the the the the key risks across the the the the the Group Further to to to the the the the the control assessment a a a a a report report was submitted to to to the the the the the Risk Monitoring
Committee on on three types of risks risks risks risks namely the business management risks risks risks risks Board risks risks risks risks and emerging risks risks risks risks Risks associated with uncertainties and opportunities embedded in the Group’s strategic plan and the manner in which they are executed Risks associated with recruitment and retirement on-going talent management and succession planning relations with trade unions
The key risk categories relevant to the Group remain as follows:
Strategic Risks disciplinary issues Health and Safety Risks Legal Risks People Risks Risks associated with maintaining the quality and and reputation of our branded
to to customers Risks relating to macro-economic evolution politics foreign investments and climatic conditions that are outside our control Risks that hardwares and softwares are are are not operating as intended thereby compromising the integrity and reliability of data and and information and and exposing significant assets to potential loss or misuse or exposing the Group’s ability to maintain a a a a a a high standard in in in in its main main business processes They include all IT
and and telephony systems and and the use of latest technologically-prone equipments Marketing and Customer Risks Business Environment and Market Risks Technology Risks Key Risk Categories
Financial Risks Risks linked to liquidity interest rates foreign currency exchange rates capital structure and profitability Risks associated with all events that can cause serious injury and harm to the Group’s workforce and customers Risks linked to the legislations and regulations surrounding the operations and functioning of the Group e e e g competition laws the Employment Rights Act Environment Protection Protection Act Act Data Protection Protection Act Act General Data Protection Regulation health and and safety regulations and and the Code of Corporate Governance Risks defined as risks of loss resulting from inadequate or failed internal processes and procedures human error or or system failure or or from external events They include all processes and sub processes from the the time the the raw materials are extracted and the manufacturing process up to the point of receipt by the customer UBP INTEGRATED REPORT 2020
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A report report on on the key risks inherent to to our activities can be found on on page 62 to to 69 of this report report Operational Risks FINANCIAL CAPITAL CORPORATE MANAGEMENT STATEMENTS REPORTS GOVERNANCE
APPROACH
ABOUT US INTRODUCTION