The key innovations introduced by the new Organisational Model include the establishment of the Central Risk Management unit, which reports directly to the Chief Executive Officer and assists top management with the control of risk management activities in accordance with national and international standards and best practices, in order to strengthen the Group's governance and ensure the definition, update and circulation of the methodologies, metrics and tools to properly identify, analyse, assess, manage and monitor risks.
This unit operates in close collaboration with the other central units for efficient and coordinated control of all risk areas (strategic, financial, legal, contractual, compliance risks, etc.) and assists business units, including the technical and support units, with the identification and assessment of risks and mitigation activities.
The Central Risk Management unit is based on two main areas: Enterprise Risk Management (ERM) and the Project Risk Management, overlooking to the related processes.
In 2015, activities were carried out in order to:
• Standardise business and contract risk management among the different company units;
• Spread the risk culture consistently and pervasively among the players involved in the risk management process, from the members of the specific Professional family to Risk owners;
• Further increase integration between risk management and company processes.