Egis - Managing risk

Each business unit (BU) in our Group manages its own risk and has its own processes. Risk Correspondents are appointed by BU Heads, and are responsible for identifying, assessing and managing risks within each area of the group. They report major risks and any significant incidents annually.

At Group level, major risks are identified by process managers as part of our performance management system. These risks are consolidated in the Group’s map of major risks so that we have a clear view across the organisation.

The Operational Risk Committee (ORC) is our risk governance body. They meet twice a year to validate our map of major risks, then review and approve appropriate action plans.

We map the major risks we face with our own risk analysis framework. We have developed this methodology in line with the best practices suggested by recognised international reference frameworks, in line with the CDC (COSO 2 ERM and ISO 31000).

We review our risk mapping annually, evaluating risks and prioritising action according to an assessment matrix. Our matrix takes both the likelihood of each risk and the severity of its impact into account to help us manage it effectively and efficiently.

Managing risk

Our risk correspondent network.

The Operational Risk Committee.

How we monitor risk.