Infineum’s resilience derives in significant part from our ability to adapt to changing work environments thorough planning, forecasting and mitigation plans. 2020 was a challenging test for Infineum’s corporate resilience, as the business navigated the uncertainties, downturns and opportunities driven by the Covid-19 pandemic. For Infineum, these market shocks confirmed our view that building and sustaining organisational resilience starts with effective risk management. We maintain a rigorous approach to identifying and managing risks, which is embedded into our culture and day-to-day decision-making, management and operations.
Action on organisational resilience includes:
- Maintaining our Enterprise Risk Management Framework, structured under a ‘Lines of Defence’ model, to define our risk owners, risk oversight and risk assurance processes. All key business processes are required to undergo regular risk assessments as part of our business continuity plans. Infineum leadership teams provide management oversight of assessments, including the prioritisation of resources to ensure robust mitigation.
- An executive management oversight committee ensures risk management processes are in place, properly communicated, and are working satisfactorily across the organisation. This team, along with our Board of Directors, also reviews the major corporate risks that can significantly impact our reputation, operations and profitability. Working with line management, the team ensures that mitigation plans and resources are prioritised and corrective action is taken and changes are made as required.
- Maintaining quality processes to ensure incidents are escalated to appropriate levels of management for provision of direction and resources and that actionable steps are taken to improve future management decisions and prevent incident re-occurrence.