DESFA’s Enterprise Risk Management (ERM) Department implements a Risk Management methodology aligned with international best practices (e.g. COSO ERM framework, ISO 31000:2018 “Risk Management – Guidelines”). The approach of ERM Department focuses on the following key pillars:
- risk identification
- risk analysis
- risk evaluation
- continuous monitoring
Using Key Risk Indicators (KRIs) as essential tools and implementing targeted mitigation actions by respective Risk Owners and Internal Stakeholders, the ERM Dept. strives for continuous improvement and adaptation to ensure that Risk Management practices remain robust and agile in the face of evolving threats and opportunities.
Finally, in addition to the advisory role to Management for up-to-date decision making based on Enterprise Risk Assessment, the results of this assessment also serve as input for Internal Audit, offering a holistic and coordinated approach within the framework of the Internal Control and Risk Management System and enhancing the overall governance and transparency of the Company.