OUR CODE OF CONDUCT (CoC) DEALS WITH THE QUESTION, "HOW DO WE WANT TO WORK?"
OTEGLOBE has developed an Enterprise Risk Management (ERM) System that supports Management in its strategic decisions, through the identification, evaluation, communication and management of enterprise risks.
In this context, the ERM System defines the strategy for monitoring, response and management of enterprise risks, in order to:
- Ensure that existing OTEGLOBE risks are systematically identified, analyzed and evaluated and that information relevant to risks and corresponding opportunities is promptly communicated to the competent decision-making bodies.
- Recording Company response to identified risks as well as to evaluate mitigating alternatives (such as transfer the risk to third parties, e.g. insurance companies).
- Establish tolerance limits (thresholds) for each level of risk assessment and evaluation. In case these limits are exceeded, relevant reporting takes place.
- Implement a common methodology across the OTE Group for the identification, evaluation and management of enterprise risks.
Methodology
Within OTEGLOBE, the Risk Assessment is a structured process for risk identification, analysis, evaluation and management of enterprise risks, in order to ensure better decision making by the company's competent bodies and that appropriate mitigation has been developed to address these risks and monitor the implementation of relevant measures.
In this context, a common Risk Assessment methodology is being applied to all risk assessments that are being performed by business units, with specific criteria for risk evaluation and assessment, in accordance with the requirements of the Standard ISO 31000 and based on the unified ERM OTE Group methodology.
RMS Operation
For the implementation of the ERM System, Risk Managers have been designated at the business units as well as at the Group subsidiary companies. The tasks of Risk Managers include the reporting and monitoring of the risks managed by their business units / subsidiary companies of the Group, in compliance with the OTE Group ERM methodology.
In the context of implementation of the Company’s Enterprise Risk Management System, the following Policy applies:
- OTE Group Enterprise Risk and Insurance Management Policy
This policy describes the current requirements for enterprise risk and insurance management of the OTE Group and the associated responsibilities.