Page 29 - TCE Annual Report 2019-2020
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Delivering Aspirations | Achieving Scale
Risk Management Overview
In the rapidly changing business environment, the company is exposed to a number
of risks that could impact its businesses adversely. It is imperative to identify, analyse
and address such risks and at the same time leverage opportunities for achieving
our objectives. TCE has adopted the Enterprise Risk Management (ERM) process that
recognises and seeks to address the key risks across bid stage and execution stage for
projects, while also evaluating strategic, financial, operational, legal and reputational
risks amongst others at Business Unit (BU) & TCE level.
The risk management process and its elements Risk Management Organisation: The Risk Function at
continue to evolve and are enhanced further based Central level is primarily driven by Chief Risk Officer
on stakeholder feedback/inputs with a view to with guidance from the MD and the Board. Business
supporting organisation strategy requirements. The Unit level Risk Officers (BUROs) assist the Corporate
ERM process is designed to address key risks across Risk Team in deploying Risk Frameworks with an aim
bid stage and execution stage for projects, while also to embed risk process in the day to day business
evaluating strategic, financial, operational, legal and activities.
reputational risks amongst others at Business Units,
Corporate Functions & TCE level.
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