Singapore Airlines 2012 Annual Report Download - page 40
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038 SINGAPORE AIRLINES
5 Summary Of Risk Management Activities
5.1 Review and Lessons Learnt - During the year under review, a Group-wide Risk Review was carried out at both mid-year
and at year-end, and key risks were reviewed at various levels of Risk Committees to ensure that the risk controls
are up to date. As part of the risk review process, lessons learnt from risk events occurring internally or externally at
other airports or other organisations were incorporated in improvements to existing or new risk controls.
5.2 Assurances - Following the year-end review, all Heads of Business Units provided written assurances to the
Risk Committees regarding their implementation of risk management within their respective business units.
Corresponding written assurances are provided by Group CEO and Senior Vice President, Finance to the Board
Safety and Risk Committee.
5.3 Tests and Verification - Tests of risk response plans were carried out by business units throughout the year, with the
tests being independently verified and reported. The Disaster Recovery Plans for back-up Information Technology
systems at alternate sites were activated and tested, and Business Continuity Plans for various scenarios were
also activated and practiced to ensure effectiveness.
5.4 Multi-Agency Scenario Simulation - The Group also carried out a test of the Crisis Management Plan as part
of Changi Airport’s multi-agency simulation exercise involving government Ministries, regulators, support and
control agencies such as civil defence, police and armed forces, medical/counselling services and emergency
rescue services. This large scale integrated exercise provided all parties with a realistic scenario to interact and
coordinate diverse roles and objectives to ensure response effectiveness.
5.5 Risk Management Training - As part of the awareness and communication programme, all ground executives up to
Vice President grade are required to undergo an online training module on Risk Management, including passing
a test at the end. The first two-year cycle of the programme was completed in 2011, with staff being required to
re-take the training course and test as a refresher every two years.
6 Board Of Directors’ Comments On The Practice Of Risk Management In Singapore Airlines
6.1 Having reviewed the risk management practices and activities of Singapore Airlines, the Board of Directors have
not found anything to suggest that risks are not being satisfactorily managed.
Statement On Risk Management