Page 165 - SC SCAR 2023 ENGLISH Flipbook

PART 5 ORGANISATION INFORMATION
Guidelines, serves as the foundation and guidance for managing risks across the SC. This process aligns with ISO 31000:2018 and encompasses the identification, evaluation, reporting, treatment, monitoring, and review of both strategic and operational risks within the SC.
The SC has consistently enhanced its internal risk monitoring and reporting through the three sub-risk
FIGURE 1
SC Internal Risk Governance Structure
committees i.e. Financial Risk Committee (FRC), Operational Risk Committee (ORC) and Technology and Cybersecurity Risk Committee (TCRC). These committees, chaired by senior management of the SC, oversee specific key risk areas and escalate matters to the ERMC for deliberation. In addition, the Safety and Health Committee (SHC) is responsible for ensuring compliance with the Occupational Safety and Health Act (OSHA) and reports to the ORC on matters related to SC employees’ safety and well-being.
Board
Audit and Risk Committee
Executive Risk Management Committee
The Board has the purpose of providing high-level guidance and a strategic avenue for addressing risk issues.
The ARC serves the purpose of providing structured and systematic oversight of the SC’s governance, risk management, and internal control practices.
The ERMC was established to deliberate the SC enterprise risks and provide strategic direction for managing such risks. It also carries the responsibility of reviewing and monitoring implementation of appropriate enterprise risk management and mitigation procedures.
Financial Risk Committee
Operational Risk Committee
he ORC addresses the SC-wide operational risks relating to its
assets, building, people and security.
The SHC provides support for occupational safety and health related matters.
Technology and Cybersecurity Risk Committee
The TCRC covers technology and cyber security risks related to the SC. It also provides strategic
input and challenges the risk identification and management of key risks in these areas.
The FRC covers financial and T procurement risks to the SC
and ensures such risks are adequately managed.
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