Enterprise Risk Management Policy
Risk management is a fundamental part of strategic management At GEM. It is the process whereby risks are methodically addressed with the goal of achieving sustained benefit within each activity and across the portfolio of all activities.
In pursuing the “Management of Risk” we will:
- Establish and implement a standard approach to the management of risk and ensure acceptable levels of risk throughout the business.
- Establish and implement a structured and consistent process for identifying, assessing and managing risks (threats and opportunities) in the achievement of our business objectives.
- Comply with applicable laws, regulations and governance standards in all areas in which we operate
- Encourage a culture of personal responsibility and ownership to proactively identify risk issuers and events.
- Apply our risk management processes to regularly manage and monitor our major areas of exposure.
- Embrace risk opportunities to gain competitive advantage.
- Provide appropriate risk management information and training programs.
- Introduce a culture of risk awareness review and management throughout the organisation to appropriate degrees.
- Measure and monitor the effectiveness of risk management performance through various assured activities.
- Integrate where possible “Management of Risk” with other management systems and procedures.