Vodafone 2013 Annual Report Download - page 48

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Principal risk factors and uncertainties
Identifying
andmanaging
ourrisks
We have a clear framework for identifying and
managingrisk, both at an operational and strategic
level.Our risk identication and mitigation processes
have been designed to be responsive to the ever
changing environments in which we operate.
Managing risk
Identify
Senior management
identify the key risks
anddevelop
mitigationactions
Identify
Local management
create a register of their
top ten risks and
mitigation actions
Review and
assessment
Group risk co-ordinator,
who isthe Group
AuditDirector,
consolidates the
operating companies’
and Group risks to
compile the Group’s
keyrisks
Process
Risks and mitigation
validated with the
Executive Committee
and presented to Audit
and Risk Committee
forreview
Review and
conrmation
Review and conrmation
by theBoard
Executive
Committee
Senior
management
of Group
functions
Group Risk
Co-ordinator
Board
Audit and Risk
Committee
Senior
management
of operating
companies
Ongoing review
andcontrol
There is ongoing review
of the risks and controls
in place to mitigate
these risks by the Audit
and Risk Committee
46 Vodafone Group Plc
Annual Report 2013