TSC established the Taiwan Sugar Corporation Risk Management Promotion Committee, with the chairman serving as the steering committee, the president as the chairman of the committee, and all the vice presidents, the first-level supervisors of all departments (excluding the Internal Inspection Office) and units as the committee members.
Risk Management Policy
The "Guidelines for Risk Assessment" has been developed, followed by the identification, analysis, assessment and handling of every short-, medium- and long-term risks. First, we identify the risk factors and assess potential losses, followed by the selection of management methods and the implementation of regular and irregular monitoring, auditing, and tracking of risk management.
Risk Management Implementation and the Responsibilities of Departments
Each unit plans and reviews the risk management implementation status on a yearly basis in accordance with the Key Points for Risk Assessment and Management. Every unit should review the risk items of the management business of the current year at the end of every year, and in addition to reviewing the implementation effectiveness of risk management for potential events of losses, business processing analysis (BPA) for the management business in the following year should be carried out, the potential risks shall be listed, the source of events shall be confirmed, and the likelihood of occurrence and the degree of impact of various potential risk items (including common risk events and important risk matters for each department) shall be evaluated as well as set. Cost-effective planning and four risk management strategies should be put into consideration, namely the Risk Aversion, Risk Reduction, Risk Tolerance, and Risk Transfer. Based on the business responsibility of each unit, the risk assessment information identified every year is sent to the Department of Planning, and then to the heads of the departments of the Headquarters for opinions based on the business attributes. After collecting and amending the opinions, they are reported to the president for approval, followed by implementation. The risk management implementation status of each unit of the current year is reported to the board of directors every six months.
Scope of Risk Crisis | Units in Charge |
---|---|
Natural disasters, occupational safety and health disasters, major epidemic (infectious) diseases | Department of Occupational Safety and Health |
Matters with environmental impact | Department of Environmental Protection |
Product quality | Department of Planning |
Labor disputes | Department of Human Resources |
Media issues, customer service, corporate image | Department of Secretariat |
Cyber Security | Department of Information |
Integrity | Department of Ethics |
Damage (due to disasters) of water conservancy facilities, plant diseases | Department of Agribusiness Management |
Personal data protection | Legal Affair OfficeOthers:Business units and departments and divisions responsible for the business at TSC Headquarters |