Continental Farmers Group has introduced a corporate approach to risk management aimed at integration with business at all levels and a continuous process of identifying risks and taking measures to manage them. The Company has created a separate risk management unit, which reports to Company’s Supervisory Board and the Chief Executive Officer, which ensures an appropriate level of interaction with business and, at the same time, effective implementation of the corporate risk management strategy, taking into account the requirements and expectations of stakeholders.
Risk Management
The target model of the risk management system considers the implementation of the best practices, aligned with the three lines of defense model and progressive integration of risk management into business processes at all levels, in order to effectively manage risks and leverage opportunities across the Company.
The application of risk-oriented practices is an integral part of our planning and decision-making, which contributes to the achievement of strategic goals, increasing the efficiency of business processes and strengthening the Company's competitiveness.
In Continental Farmer Group we understand that enterprise risk management is a strategic advantage for our company. All divisions at all levels of the organization are involved in the risk management process. We identify and assess risks relative to the defined risk appetite of the company using a single risk classifier. All employees understand which risks are acceptable and which are not.
The Company's reliable risk management system works both from the top down and from the bottom up, ensuring that employees at all levels are aware of their role and responsibility. Clearly defined rules allow you to quickly make a decision or, if necessary, escalate to the next level of consideration any risks that arise in the course of operational activities.
An effective risk management system helps in the formation of a culture of management decisions based on an understanding of risks and opportunities, their impact on strategic and short-term goals. A clear and transparent risk management structure allows the Company to adapt to changes in the business environment and ensure stability and long-term development.