The goal of our risk management is to ensure operational continuity as well as achieving SATO’s strategic and financial aims. The highest responsibility for risk management is held by our Board of Directors, which decides on the targets for risk management and monitors the main risks. Risk management is part of SATO’s strategy process, operational management and business processes.
To preclude the fulfillment of recognized risks and to minimize possible consequences, the necessary actions are planned. Responsibility for following up these impacts is allocated on the unit level. The Corporate Management Group supervises action on risk management and its impacts no less often than quarterly. The internal audit assists in the process and serves as an external guarantor of quality and as an assessor of results.
SATO carries out risk assessment on its business regularly in connection with strategic and annual planning. To identify the risks of various subdivisions, SATO uses a risk model developed for it.
The risk model assists in mapping out on a broad front the risks and opportunities that may be associated with the business climate, business management and decision-making, and operational processes.
• Decision-making model and authorisations
• Financing policy
• Procurement management model (supplier networking, selection of suppliers, supplier criteria, selection of partners)
• Insurance policy management system, appraisal and allocation of responsibility
• Internal control system
• Ownership of key processes, monitoring and development model and benchmarks
• Balance between anticipatory and follow-up benchmarks