Renantis

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.

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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.

Benefits

The adoption of structured risk management framework and the spread of 'risk based' approaches in decision-making processes brings numerous benefits, including:

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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Risk Appetite

The Risk Appetite Framework, approved by the Board, establishes the level of risk that we, as a company, are willing to accept to achieve our objectives. We do this by identifying and assessing the risks for similar areas within the business and management within certain limits defined as acceptable (the so-called “tolerance levels”). The objective is to direct management’s strategies and to support the decision-making processes, encouraging the creation of value and long-term sustainability, in accordance with the risk profile adopted.

Risk Assessment

The aim of the Risk Assessment process is to identify the risk scenarios to which, as a Group, we are exposed, based on a mapping of emerging risks in relation to the evolution of company strategies, our internal structure and the competitive environment in which we operate. The methodology, based on a Risk Model and a classification and taxonomy of Group risks, which was fully revised in 2018, includes the introduction of a Deep Dive Analysis process for the priority risks identified (Top Risk), which provides for the definition and monitoring of suitable response strategies and Key Risk Indicators useful for identifying changes in trends and possible deviations from the strategic objectives and performance to which they are linked.

Risk Management

Operational Risk Management is the process through which a strong integration of the Risk Management structure, within the business processes considered most critical, has been created. The aim is adopting 'risk based' approaches in the evaluation processes of relevant operations. This process involves the adoption of information flows among the various corporate structures and the utilization of analyitics tools for the identification and reporting of project risks. These, together with a system for the precise verification of risk metrics and consistency with the risk profile defined by the Group (Risk Appetite Framework), support decision-making processes.

Risk Reporting

Reporting to Top Management and the Strategic Supervision Bodies represents the natural link that can facilitate the Enterprise Risk Management oversight process, through specific periodic information flows that aim to provide a clear view of the Group's level of risk exposure and the response strategies in place.

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Risk Management Services

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