Singapore Airlines 2010 Annual Report Download - page 32

SINGAPORE AIRLINES
030
statement on risk management
3 ON-GOING ACTIVITIES TO IMPROVE MANAGEMENT OF RISK
3.1 Annual Risk Review
During the year, the Annual Risk Review was carried out Group-wide, with key risks surfaced and reviewed by
the Company Risk Management Committees, the Group Risk Management Committee and the Board Safety &
Risk Committee.
3.2 Testing of Alternate Sites of Control Centers
In ensuring that controls/responses are effective, regular testing is conducted and independently verified.
The alternate sites for the Group’s various operational control centers at the airport were activated during the
yearly tests, and validated as operationally ready and effective.
3.3 Improving the Crisis Management Simulation Exercise
The Crisis Management Simulation Exercise was reviewed and improvements implemented. The Crisis
Management Plan was practised at Functional Group level to ensure staff and suppliers were familiar with
their responsibilities.
3.4 Risk Management Training
A Risk Management training course was made compulsory for all staff (executives up to Vice Presidents),
implemented via an online web-based training system. Refresher training is also compulsory on a regular basis.
4 BOARD OF DIRECTORS’ COMMENTS ON THE PRACTICE OF RISK MANAGEMENT IN SINGAPORE AIRLINES
4.1 Having reviewed the risk management practices and activities of Singapore Airlines, the Board of Directors has
not found anything to suggest that risks are not being satisfactorily managed.