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Enterprise Risk Management

Enterprise Risk Management

GT Capital has adopted an Enterprise Risk Management Policy and Framework for the promotion of increased awareness of risks, minimization of the company’s exposure to financial losses and boosting of shareholder’s confidence. GT Capital seeks to maintain an effective risk management process, designed to meet the requirements of generally accepted good corporate governance.

The goal of the enterprise risk management process is to apply a consistent methodology to assess and manage business risks across GT Capital. GT Capital undertakes an annual assessment of its risks using the methodology below, that is aligned with global risk management standards - ISO31000 and COSO Framework.

 

 

 

 

Risk Governance Structure

GT Capital’s risk governance structure and well-defined roles and responsibilities supports the commitment to conduct effective risk management in the company and that risk management is not the sole responsibility of one individual but rather occurs and is supported at all levels in the company.

The Board of Directors, through the Risk Oversight Committee, has the ultimate oversight role over the company’s risk management activities and approves risk management related policies, procedures and parameters that govern the management of risks.

The Senior Management Committee is in charge of determining the strategic direction of GT Capital and creating the environment and the structures to properly align risk management with strategic objectives. 

The CRO is the company’s risk advocate who champions the execution of the ERM process. His primary responsibility is to own, develop, implement and continuously improve the ERM process. He is assisted by a full time risk management officer.

The Risk Steering Committee members are the risk owners who are responsible for the identification, assessment, monitoring and to establish next steps based on the key risks GT Capital faces.

The Internal audit division provides an independent review of the effectiveness of the risk management proces

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