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RiskManagement
Presented by:
Amrita Kaur
Ashima Anand
Atul Kapoor
Harkamal Singh
Nimisha Jhang
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What is Risk Management?
Risk Management is the name given to a logicaland systematic
method of identifying, analyzing,treating and monitoring the risks
involved in any
activity or process
Risk Management is an on going plan to avoidcircumstances and
events that can cause loss &minimize the operational and
financial impact of
loss.
Risk Management is a methodology that helpsmanagers make best
use of their availableresources
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Company Profile
Listed July 2000, SMRT
Corporation is first listed
metropolitan rail operator in the
world.
Singapores leading intermodal
public transport operator
Dominant operator of
Singapores rail system;significant bus and taxi operator.
Reaps increasing revenues from
retail and advertising, as well as
engineering consultancy, O&Mand related services.
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Risk Management Structure
Board of Directors
Risk
Management
Committee
Audit EnterpriseRisk
Management
Function
Board RiskCommittee
AuditCommittee
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Risk Management Structure
Overseas the risk management process.
Directly report to board of directors.
Board RiskCommittee
Oversight of financial reporting risks. Supervising accounting
policies.Audit Committee
Responsible for identifying and managingrisk.
To monitor the implementation of riskmitigation strategies
RiskManagementCommittee
To monitor the risks, methodologies andprocesses
RMC reports to the BRC on a quarterly basis
Enterprise RiskManagement
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Risk Management Process
RiskAnalysis
RiskControl
RiskTransfer
Risk,Review &
Refinement
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Risk Management Process Risk Analysis - Risk analysis involves a
systematic review of exposures to loss
and your existing insurance program. This process is based on
our ExposureAnalysis Checklist and the related materials required
to help identify exposures
to loss.
Risk Control - Once risk is indentified, we collectively agree
on the Risk Control
techniques best suited to help reduce the frequency and severity
of these risks.
We indentify the most effective techniques through a series of
questionnaires,risk control inspections, and a review of current
risk control strategies.
Risk Transfer - After the risk is indentified and Risk Control
strategies are
agreed upon, is it time to evaluate both non-insurance risk
transfer (usually
contractual) and insurance risk transfer. This involves
preparation of the
submission as well as deciding on a marketing strategy.
Risk Review and Refinement - The Risk Management Process is a
work in
progress. It is constantly evolving based on the changing needs
of each
business. We continue to refine our strategies and stay on top
of changes in
your company so that we can proactively manage you Total Cost of
Risk.
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Risk Management Process - Case
Adopts a standard methodology
Focuses on top risks at the group level
All investments and overseas projects are subject to due
diligence
processes and also undergo the risk management process at
eachmajor milestone of the project life cycle.
Integration of Key Risks at the Group level and monitored
closely by
the business units and corporate functions.
Review the risk profile
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Types of risks
Energy
Cost
Security
&
Epidemic
Regulatory
&
Operational
Safety Others
Safety
Leadership
Safety
Culture
Safety
Sustaining
System
Safety
Enabling
System
Reputation
Risks
Investment
Risks
Financial
Risks
Property &
Liability
Risks
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Types Of Risks
Energy cost risks
Security and epidemic risks
Regulatory and operational risks
Safety risks
Safety leadership
Safety culture
Safety enabling systemSafety sustaining system
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Types Of Risks
Reputation risks
Investment risks
Financial risks
Property and liability risks
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Energy
Cost Risk
Security
&
Epidemic
Regulatory
RiskSafety Others
Mitigating Measures
Electricitycontracts
at fixed
rates.
Diesel at
fixed
Discounts. Engage in
fuel-efficient
efforts.
DevelopedSCEP.
Conducted
regular
Drills.
Business
ContinuityManagement
(BCM)
in progress.
Carry out
service
improvement
regime.
Safety
awarenessInculcated.
Incentive
schemes.
SafetyLeadership
Safety
Culture
Safety
Enabling
SystemSafety
Sustaining
System
Investment
risks
Financial
procedures in
place
Property
Risks
Insuranceprograms.
Reputational
risks High
standards of
service quality.
