Gearbulk IntegratedReport 2024 Paperturn - Flipbook - Page 50
GEARBULK
RISK & OPPORTUNITIES
OVERSIGHT –
RISK & OPPORTUNITY
As a global organisation, Gearbulk encounters a range of operational risks.
These risks are systematically categorised and assigned to designated risk
owners, who are responsible for assessing and implementing mitigation
measures to keep risks at an acceptable level.
The risk management function is a centralised function, and
mitigating controls are monitored to ensure that the risk does
a risk report is produced and provided to the Board of Direc-
not increase. Risk management is deemed a core element in
tors on a quarterly basis. For new investment decisions, the
the organisation, and a risk register is maintained to ensure
risk owner is responsible for assessment, identi昀椀es potential
that all risks are appropriately documented. As part of our
risks and evaluates them as needed with the relevant division
journey opportunities arising from risks are to be assessed
prior to the decision-making process. The top ten risks are
and included into our strategy process.
discussed during each Board of Directors meeting, and all
RISK MANAGEMENT PROCESS
50
Identify
Analyse
Evaluate
Treat
Monitor
the risk
the risk
the risk
the risk
and review
STEP 1
STEP 2
STEP 3
STEP 4
STEP 5
Identify risks that
Once identi昀椀ed,
Risks need to be
Every risk needs
Not all risks can be
the business is
risks are analysed
ranked and
to be eliminated
eliminated - some
exposed to in
and the scope of
prioritised.
or contained as
risks are always
its operating
the risks must be
much as possible.
present.
environment.
determined.
PART 2 – OUR BUSINESS IN CONTEXT
