CH. 3 Corporate Governance
44
3.3.1
Risk Management Structure
The President would decide and announce the Company's risk
management policy, and supervise the Executive Management
Office/Business Operations/EPC Operations and its subordinate
risk management unit to undertake day-to-day risk management
measures and improvement plans. The Executive Management Office
is responsible for the management of Company-level risks, and has
assigned the Corporate Administration Department to be in charge of
overall secretarial duties of risk management to ensure the continued
workings of the risk management mechanism. And each department's
risk management would be conducted by each risk representative,
to undertake relevant tasks and to serve as a contact person, carry
out the department's risk identification, evaluation, reporting, and
supervise the day-to-day management mechanism and promote plans
for improvement. The risk management units are the following:
Executive Management Office
Business Operation
EPC Operations
Engineering Division
Procurement Division
Construction Division
Hydrocarbon
Business Operations
Infrastructure,
Environment & Power
Business Operations
Administration & General Services
Dept.
Project Site Administration Dept.
Human Resources Dept.
Accounting Dept.
Finance Dept.
Corporate Administration Dept.
Legal Dept.
Risk Management Units
Risk Management Implementation Procedures are the following:
Steps
Item
Description
1
Risk identification
Identify significant risk item
2
Current risk evaluation
Evaluate severity rating
Evaluate risk probability index
Confirm overall risk rating
3
Improvement tracing
Develop improvement plan
Progress tracing of improvement plan
Evaluate effectiveness of improvement plan
4
Residual risk evaluation
Evaluate the rating of residual risk after completing the improvement plan
Improve
and
Monitor
Risk
Identification
Control
Assessment
Risk
Assessment
Improve
and
Trace
Risk
Identification
Control &
Evaluation
Risk
Evaluation
