Actions to Control Risk Risk Back-ground to Current Risk improve Action Time Ref Objectives Impact Category the risk controls Owner manage-ment Owner Risk risk of the risk 4 To satisfy Reputational Stakeholder Service Moderate 4 Possible 3 12 Stakeholder Good 0.40 4.80 4 1.2 CEO Refine and COO Nov. legitimate expectations innovations to forums consolidate 2014 stakeholder ensure effective established stakeholder expectations support to forums Market users Green Amber 5 Encourage Human High senior Most positions Major 4 Likely 4 16 Retention Poor 0.90 4 3 CEO Sept. conducive Capital manage-ment are filled on strategy; of 2014 Environment turnover acting basis due Succession retention to executive planning; strategies; manage-ment Re-muneration Remco to leaving the policies; compare Market; Re-muneration salaries with Contractual committee related sister Red appoint-ments proposals and companies and Oc-cupational Working Safety and conditions Environment policies 6 Effective Integrity Fraud and Incidences of Major 4 Likely 4 16 Anti-fraud Fair 0.75 12 4 3 CEO Promote zero Internal Nov. prevention corruption fraud owing to policies; tolerance to and 2014 measures insufficient Internal fraud; CEO internal control controls; frameworks; Segregation of of code Inadequate duties; of ethics; manage-ment Policies and Fraud reviews; procedures; workshops Insufficient Internal and fraud risk auditing and awareness by Red Amber ownership reporting; service amongst senior Fraud hotline providers and manage-ment Setting tone and from the top Disciplinary by proceedings
Ref Objectives Risk Category Risk Back-ground to the risk Impact Risk Current controls Control risk Risk Owner Actions to improve manage-ment of the risk Action Owner Time 4 To satisfy legitimate stakeholder expectations Reputational Stakeholder expectations Service innovations to ensure effective support to Market users Moderate 4 Possible 3 Amber 12 Stakeholder forums established Good 0.40 Green 4.80 4 1.2 CEO Refine and consolidate stakeholder forums COO Nov. 2014 5 Encourage conducive Environment Human Capital High senior manage-ment turnover Most positions are filled on acting basis due to executive manage-ment leaving the Market; Contractual appoint-ments and Working conditions Major 4 Likely 4 Red 16 Retention strategy; Succession planning; Re-muneration policies; Re-muneration committee proposals and Oc-cupational Safety and Environment policies Poor 0.90 4 3 of retention strategies; Remco to compare salaries with related sister companies CEO Sept. 2014 6 Effective prevention measures Integrity Fraud and corruption Incidences of fraud owing to insufficient internal control frameworks; Inadequate manage-ment reviews; Insufficient fraud risk ownership amongst senior manage-ment Major 4 Likely 4 Red 16 Anti-fraud policies; Internal controls; Segregation of duties; Policies and procedures; Internal auditing and reporting; Fraud hotline and Disciplinary proceedings Fair 0.75 Amber 12 4 3 CEO Promote zero tolerance to fraud; of code of ethics; Fraud workshops and awareness by service providers and Setting tone from the top by Internal and CEO Nov. 2014
Mid-Year%20Report%202014-02-24.docx