The risk management system comprises the totality of strategies, policies and procedures for identifying, measuring, monitoring, managing and reporting of all reasonably foreseeable current and emerging material risks and is part of the day-to-day business activities conducted at the PPS Group. The system takes into account the probability, potential impact, and duration of risks and is adapted as the business and the external environment change. The system supports the boards of directors and trustees in meeting their responsibilities relating to the furtherance of the safe and sound operation of the PPS Group and the protection of its members. The objectives of the PPS Group are aligned with its environmental policies. The risk management system takes into account the alignment of sustaining and growing the business while preserving the environment.
The risk management system comprises the following components:
The detailed particulars of the risk management system are set out in the PPS Group Enterprise Risk Management Framework.