Identifying, managing and dealing effectively with risks is critical to protecting and creating sustainable value in our business. Our risk management process is designed to enable us to identify, assess, plan and manage risks, including the analysis of new and emerging risks that may affect us. our business, and to allow us to deal swiftly with new or emerging risks. changing risks. Our risk management processes reflect our approach to sustainability management and seek to link enterprise level responsibility for sustainability to the organization level overview and board accountability. Each mine has a resource level risk register that they manage and upgrade.
The Enterprise Risk Register is based on guidance from the Risk Management Team, led by our Senior Vice President (SVP), Business Security, Risk and Ethics, who reports to the Board’s Audit and Risk Committee. This guide (including Risk Management Policy and Procedures) informs the risk registers at resource level and includes guidance on how the significance and impact of reinforcement risks should be considered. such as safety, society and the environment. On a quarterly basis, enterprise risk registers are submitted by area for review by the risk management team for the quarterly risk report by the senior vice president on business quality, risk and moral assurance to the Audit and Risk Committee Boards. These reports include the key risks to the organization and each region, together with a global overview of strategic priorities, which includes a sustainable profit segment linked to priorities. The Group’s sustainability, as well as quarterly performance against these priorities.
Our risk management team compiles the results of all site risk registers annually to update the organisation’s risk register under the direction of our senior vice president of business security, risk and business ethics, and the Management Committee all reviewing this risk register. The Group’s risk register is submitted annually to the Board of Audit’s Audit and Risk Committee, and for each of the risks identified it includes: sexual risk; detailed control and monitoring measures to reduce risk; and risk assessment following risk mitigation measures. Sustainability risks considered in 2020 include health and safety, environmental management (including climate change), access to energy and water, mine closures, and rehabilitation compliance and governance (including threats to corruption and human rights) … The Risk Management team actively monitors key controls such as power, water and security systems to ensure they remain in place and are effective at all times. For example, when our Sustainability Team Leader reports safety data to the President and Chief Executive, it is shared with the Risk Team for review and submission of that analysis, along with progress or changes. from previous performance, to the Audit and Risk Committee. As part of our ongoing risk management processes, we also conduct sensitivity analyzes and pressure tests to assess the potential impact and any changes to our key business risks.
We regularly check relationships.