Our ERM Framework aims to establish a streamlined process for the identification, assessment and reporting of risks that includes defined roles and responsibilities, risk terminology, assessment criteria, tools for the documentation of risks, as well as escalation and reporting lines.
Clarifying scope, objectives and risk assessment criteria, identifying stakeholders and understanding organizational environments
Recognizing potential events impacting organization's goals, and assigning accountability through risk owners
Analyzing risks by assessing their impact, probability and the design of the internal control system to determine inherent and residual risk levels
Prioritizing risks to determine the most significant risks of the organization and comparing risk results with the risk appetite levels to consider the need for treatment
Implementing appropriate risk responses to effectively manage exposures according to METLEN risk appetite and the level of risk rating
Monitoring risk trends, treatment status, and ERM framework performance regularly to identify potential improvement opportunities
Communication of risk and mitigation actions and progress to different stakeholders (e.g., Board of Directors, Audit Committee, Senior Management) to facilitate risk oversight, promoting risk awareness and understanding of risks
