Page 95 - BTSGroup ONE REPORT 2021/22_EN

BTS Group Holdings Public Company Limited 4.3 Risk Management Review 93
Annual Report 2021/22

4.3 RISK MANAGEMENT REVIEW

The Company realises the importance of Enterprise Risk Management (ERM) Enterprise Risk Management Structure
in managing risk in accordance with good corporate governance principles. The establishment of a formal risk structure helps to clarify and formalise
The Company believes it will be one of the key strategies that will help the Group the accountability, roles and responsibilities among various stakeholders involved
achieve its business goals and grow sustainably. In addition, the current business in the ERM Process across the Group. This also includes defining risk-related
operation landscape is experiencing changes in the business environment and decision-making authorities and involves creating a structure for risk information
new risk factors that tend to increasingly intensify, the Group therefore attaches flows and reporting.
great importance to risk management to enhance the organisation’s ability to
cope with change by reducing the likelihood of risks occurring or mitigating • The Board of Directors is responsible for oversight of the Group Policies and
the impacts thereof.
assigning the appropriate members to the Risk Management Committee.
• The Risk Management Committee is responsible for reviewing the Group
Risk Management Policy and Framework
Risk Management Policy and oversight of the effectiveness of the Group
The Board of Directors has approved the Enterprise Risk Management Group Risk Management which covers all aspects of the Company’s main
Policy. The overall objective of this Policy is to provide a documented, structured, operations, along with monitoring the progress of the mitigation plan and
appropriate, and sufficient ERM framework for the Group to assign roles and key risk indicators, which are early warning tools, to determine additional
responsibilities, create accountability, and effectively manage the enterprise risks. risk management measures in a timely manner.
• Group Risk Management Working Team is responsible for reviewing
This Policy is focus on strong risk management with a systematic risk the Groups risk profile to ensure that the risk information is updated, remediated
management process according to the standards of the Committee of and improved accordingly if major changes or significant risks occur during
the Sponsoring Organisations of the Treadway Commission (COSO) and enable all the year as well as monitoring the progress of the risk mitigation plans at
Directors, Executives, and Staff at all levels to effectively and efficiently manage the group level and present the Groups risk management report to
the risks within the risk appetite and risk tolerances considering associated risks. the Risk Management Committee.