Risk
Management
We’re a company committed to protective both ourselves and those associated with us through managing risk by implementing strict measures in all our business operations.
Risk Management
It is the policy of Kichose Group to achieve best practice in the management of all risks that threaten to adversely impact Kichose Group, its customers, people, assets, functions, objectives, operations, or members of the public.
Risk Management forms an integral part of strategic, operational, and line management responsibilities in all our operations and is integrated into all our strategic and business planning processes.
Performance Measurement
Specific overall risk responsibility is currently vested in the Group CFO’s office and will be reassigned to a committee chairman at board level when the board constitutes a Risk Committee.
Until such time, there is an executive risk management committee chaired by the CFO that determines and communicates policy, objectives, procedures, and guidelines, and directs and monitors implementation, practice, and performance throughout Kichose Group.
Performance Measurement
The committee’s performance is regularly measured by:
- Implementation and documentation of risk management
- Identification of risks and successful treatment in accordance with procedures and guidelines
- Mitigation and control of any losses
- Reduction in the costs of risks
- Achievement of best practice
Consultants may be retained from time to time to advise and assist in the risk management process or management of specific risks or categories of risk. Every employee of Kichose Group is recognized as having a role in risk management vigilance and the identification of risks. As such, all employees shall be invited and encouraged to participate in that process.
Risk Committee Mandate
The Risk Committee is specifically mandated to:
- Ensure risk management is adopted throughout Kichose Group as a prudent management practice
- Ensure all employees are made aware of the need to manage risk and promote a culture of participation
- Protect Kichose Group from adverse incidents, reduce exposure to loss, and mitigate and control loss should it occur
- Ensure the ongoing unimpeded capacity of Kichose Group to fulfil its mission, perform its key functions, meet its objectives, and serve its customers
- Reduce the costs of risk to both Kichose Group and its stakeholders
- Ensure companies in the group, where applicable, adhere to Risk Management Standards regulated for their respective industry
