Keolis MHI Risk Management Policy provides the goals and basic principles to ensure effective management of internal and external risks during the lifecycle of Keolis MHI activities.
Our Goals:
Defining risk management strategies, clear accountabilities and actions for development and execution of risk management capabilities across Keolis MHI and its supply chain.
Designing and implementing effective processes to assess the risks, develop controls and identify gaps in the management of those risks reflecting the evolving business objectives, external and internal operating environment.
Continuously monitoring and improving the risk management system to support risk-based decision making
Basic Principles:
Adopting and implementing an Enterprise Risk Management (ERM) framework, with consistent approaches for identifying, assessing and responding to threats and opportunities, at all levels and for all activities in order to meet strategic, program, project, operational, reporting and compliance objectives.
Establishing a rationale for managing risk, as a good risk management practice and a significant aspect of good corporate risk governance, as an integral part of Keolis MHI routine management and decision-making activities
Ensuring all senior management, staff and stakeholders are committed to deal with conflicting interest in respect of risk within Keolis MHI and with external parties.
lmplementing control assurance to improve Keolis MHI ability to manage risk effectively and act on opportunities quickly and confidently to improve services, create value and meet objectives.
Comply with any applicable legal requirement
Comply with the Roads & Transport Authority's risk management framework and requirements.
Providing tools and resources necessary to encourage and enable staff to facilitate the identification, assessment, evaluation, response, monitoring and timely reporting of risks.
Reviewing, updating and communicating the Risk Management policy and framework, annually as a minimum, to ensure it remains in alignment with the best interest of ail the staff and Keolis MHI partners.
Engaging with all senior management staff and stakeholders to ensure the risk management policy is understood and implemented across the business
Alignment with Keolis MHI Business Continuity Management framework so that risks can be controlled to As Low As Reasonably Practicable (ALARP) beyond which prepare, respond and recovery stages can be initiated.
ldentify High Impact Low Probability (HILP) risks for proactive management under the Business Continuity framework should they materialise with significant consequences to Keolis MHI.
Ensuring Keolis MHI partner's policies and plans align to this policy, including communication and implementation within their respective organisations.
Last update : 28/05/2024