At Siegfried, we cultivate a strong risk culture aimed at identifying, controlling and preventing risks in a transparent manner.
Risk management principles
Siegfried’s risk management strategy is based on the principles of transparency, management and prevention.
Monitoring and mitigation
In addition to evaluating risks as part of our day to day business operations, we conduct yearly risk analyses including all sites and global functions, and involving all relevant risk owners and stakeholders.
Our risk classification is based on five pillars, encompassing both short-term as well as mid- and long-term (evolving) risks.
Each risk identified and assessed is monitored on a continuous basis and individually managed and mitigated in line with the following approach:
- Avoidance (eliminate, withdraw from or not become involved)
- Reduction (optimize – mitigate)
- Sharing (transfer – outsource or insure)
- Retention (accept and budget