Vincit Plc has a Risk Management Policy confirmed by the Board of Directors.
With risk management, Vincit supports the achievement of strategic and business objectives and ensures the continuity of its operations in changing conditions. The ability to bear risks and manage them effectively is essential to successful business operations and creating value for the owners.
The purpose of risk management is to ensure the comprehensive and appropriate identification, assessment, management and monitoring of risks throughout the Group. The Executive Team regularly monitors the realization of risk management and reports to the Board of Directors on risks and the progress of risk management measures.
The Group’s risks are assessed by the Board on an annual basis. The adequacy and effectiveness of measures are assessed as part of business monitoring and corrective measures are taken when required.
The assessment of the company’s risks is not limited to their financial impact. Vincit’s brand and reputation are vital competitive advantages, and damage to the company’s reputation or negative market opinions could have a detrimental effect on the Group’s business, results and financial position. Reputation risks in particular are managed through timely and sufficient communications.