Experian 2014 Annual Report Download - page 24

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20 Strategic report • Protecting our business
Protecting our business
Risk management is an essential element of how we run our
business, to help achieve long-term shareholder value and
protect our business, people, assets, capital and reputation.
Experian is an innovation-driven, global
business. Risk management is central
to how we operate, enabling us to create
value and deliver substantial returns to
shareholders. It operates at all levels
throughout our organisation, across
regions, business lines and operational
support functions. Our approach to risk
management encourages clear decision-
making about which risks we take and
how we manage them, based on an
understanding of their potential strategic,
commercial, financial, compliance,
legal and reputational implications.
Our risk management framework
provides a structured and consistent
process for identifying, assessing,
responding to and reporting risks.
It enables management to demonstrate
a responsible and proactive embedded
approach to risk management. In doing
so, the Board's main functions are
supported by identifying and managing
risk, in line with our strategic objectives,
risk appetite, corporate responsibility
strategy and the long-term drivers of
our business.
PRINCIPAL FEATURES OF THE RISK MANAGEMENT AND INTERNAL CONTROL FRAMEWORK
Sustaining
a culture
of integrity
and ethical
values
TONE AT THE TOP
Commitment
to maintaining
a strong risk
and control
culture
Commitment
to competency
BUSINESS STRATEGY
RISK MANAGEMENT AND INTERNAL CONTROL FRAMEWORK
Defined
governance
structure
Identify risks
Evaluate
risks in the
context of the
current control
environment
CommunicateMonitor Respond
to risks
Product
innovation
New customer
segments
Expanding
geographically