Risk Management Services
We have an 'Internal Control and Risk Management System', which defines roles and responsibilities, rules, procedures and organizational structures for the identification, measurement, monitoring and management of the risks to which, as a Group, we are exposed. The governance of the process involves all levels of the organization, with roles and responsibilities defined in the Corporate Governance regulations that we have adopted, consistent with the guidelines included in the Code of Conduct of Borsa Italiana. Our Risk Management function, which reports directly to the Chief Executive Officer, identifies, assesses and prioritizes risks and contributes to the development of actions to manage them, through an Enterprise Risk Management framework that integrates the 'Strategy - Risk - Corporate Performance' report.
This framework, developed around four methodological pillars (Risk Appetite, Risk Assessment, Risk Management, Risk Reporting), incorporates new analysis technologies and greater use of data analytics, enabling the strategic supervisory bodies (Boards of Directors) and management bodies (CEO and Top Management) to assess and manage uncertainty more effectively in decision-making processes, with the aim of continuously increasing and improving the company's ability to create sustainable value for the various stakeholders.
- a better ability to forecast and respond to changes, even unexpected and sudden ones, caused by disruption and crisis events (e.g. pandemics and natural disasters)
- a better understanding of risk appetite of shareholders when defining business targets and corporate strategies;
- a capital allocation that takes into account a balance between expected returns and risks exposure underlying critical processes.
All these factors contribute to strengthening the Risk Governance, enhancing an active involvement of all employees, which helps to spread and strengthen the risk culture, providing stakeholders with confidence in our business management approach..
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