Identify, manage, control, succeed.
Risk is inherent in our business. The identification and management of risk is central to meeting the Company Objectives. Risk will manifest itself in many forms and has the potential to impact the health and safety, environment, community, reputation, regulatory, operational, market and financial performance of the Company and, thereby, the achievement of the Company Objectives. By understanding and managing risk we provide greater certainty and confidence for our employees, customers and suppliers, and for the communities in which we operate.
Successful risk management can be a source of competitive advantage. We will use our risk management capabilities to maximise the value from our assets, projects and other business opportunities and to assist us in encouraging enterprise and innovation. Risk management will be embedded into our critical business activities, functions and processes. Risk understanding and our tolerance for risk will be key considerations in our decision making.
Risk issues will be identified, analysed and ranked in a consistent manner. Common systems and methodologies will be used. Risk controls will be designed and implemented to reasonably assure the achievement of our Company Objective. The effectiveness of these controls will be systematically reviewed and, where necessary, improved. Risk management performance will be monitored, reviewed and reported. Oversight of the effectiveness of our risk management processes will provide assurance to Senior Management. The effective management of risk is vital to the continued growth and success of our Company.