Risk Management Policy
The aim of Ixonos' risk management is to ensure undisturbed and continuous business operations and development, and to support the implementation of the company's operational targets, and to increase the company's value.
Organization and process
Risk management is part of each of Ixonos' core processes, starting from the strategic process of the Board of Directors and reaching all the way to the Business Units' customised service production, and it is also part of the company's quality system. The overall responsibility for risk management rests with the company's Board and the President and CEO. The Board approves the company's risk management policy, follows up the implementation of the policy and deals with significant business risks.
The general principle is that risks are managed where they originate. The Business Units and the Administrative Units are responsible for the identification, evaluation and prevention of risks related to their own functions. The Units report of their risks to the CFO who is responsible for the planning, development and follow-up of the company's risk management. The CFO reports on the company's risk management to the President and CEO. The identified risks are followed up monthly, quarterly or semi annually, depending on the risk type, or when risk exposure is detected.
Identified risks
Ixonos has identified risks related to the following items:
Operating environment: Political, economic and legislative conditions as well as competitor situation and customer needs
Risks related to service sales and marketing: Personal risks related to sales and marketing, contracts and responsibilities as well as data security risks
Service production: Personal risks related to service production, contracts and responsibilities as well as data security risks
Technical infrastructure: Risks related to data processing and data networks
Economy: Risks related to liquidity, the adequacy of shareholders' equity, financing, interest and currencies
Abuses: Incidents where the law or equivalent external norms or the company's internal directions have been deviated from
Strategy: Risks related to the observance of the environment, reporting, decision-making and implementation of the strategy.