Vodafone 2014 Annual Report Download - page 48
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216
Identifying and managing
our risks
We have a clear framework for identifying and managing risk, both
at an operational and strategic level. Our risk identication and mitigation
processes have been designed to be responsive to the ever-changing
environments in which we operate.
For more detail of our strategy formanaging risk
196
Vodafone Group Plc
Annual Report 201446
Risk summary
Managing risk
Identify
Senior management
identify the key risks
anddevelop
mitigationactions
Identify
Local management
create a register of their
top ten risks and
mitigation actions
Review and
assessment
Group Risk Co-ordinator,
who isthe Group
AuditDirector,
consolidates the
operating companies’
and Group risks to
compile the Group’s
keyrisks
Process
Risks and mitigation
validated with the
Executive Committee
and presented to the
Audit and Risk
Committee forreview
Review and
conrmation
Review and conrmation
by theBoard
Executive
Committee
Senior
management
of Group
functions
Group Risk
Co-ordinator
Board
Audit and Risk
Committee
Senior
management
of operating
companies
Ongoing review
andcontrol
There is ongoing review
of the risks and controls
in place to mitigate
these risks by the Audit
and Risk Committee