The Enterprise Risk Management process is considered a strategic tool supporting the Top Management in the decision making process and in monitoring the Group performances.
The goals of our Risk Management system are to detect, measure and control existing and potential risks and to monitor the overall risk volume posed to the Group, its divisions and the Companies within them, and to analyze the potential losses associated with those risks. The Risk Management system can substantially help to safeguard the profitability of the Group, to open up new success potentials, to reduce the costs incurred due to risks and to prevent missing profits by failing to recognize opportunities when they arise.
DeLclima Group has both outlined its strategy toward risk by drafting a formal Risk Management Manual and has introduced a systematic and continuous process of evaluation through the drawing up of a Risk Assessment Report on a yearly basis.
The Manual describes the relationship between the enterprise risk management and the strategy of the Group. The objectives of growth, profitability and limited dependence to external financial support, require an entrepreneurial approach which, by definition, requires decision making in a uncertain environment. The risk management process should support the business choices and actions by identifying, measuring and monitoring the risks that could affect the resources and the reaching of targets. The Manual addresses the concept of risk prevention, selection and mitigation. It also outlines the roles and responsibilities in the risk management, and the communication flow necessary to identify the risky situations.
The Risk Assessment Report, updated every year, describes in detail each risk in each Company. The risks are catalogued in a matrix form since they could depend from external or internal factors and they could be strategic, operational, compliance or information risks.