Risk management

The purpose of risk management is to support the achievement of business objectives. Risk management aims to identify and manage potential risks in advance, and to identify and make use of business opportunities. Risk management supports the development and implementation of Springvest’s strategy.

Springvest’s risk management policy has been approved by the Board of Directors. It is supplemented by separate risk management guidelines, through which the business functions put the policy into practice.

Springvest’s risk management is aligned with the widely accepted COSO ERM framework and takes industry-specific requirements into account.

Risk management organisation

The Board of Directors has overall responsibility for the adequacy of Springvest’s risk management system, while the CEO and other senior management are responsible for its practical implementation.

The CEO is responsible for putting risk management principles into practice across all of Springvest’s operations.

Executive management is responsible for ensuring that all staff, tied agents and contractual partners carry out risk management in their work. Executive management must foster a corporate culture that accepts internal control as a normal and necessary part of business.

The Chief Administrative Officer is responsible for guiding and monitoring the implementation of the company’s risk management policy and for ensuring that the risk management process is carried out.

All staff are required to comply with the risk management policy and the guidelines for its implementation.

Risk management process

At Springvest, risk management is a systematic activity designed to ensure regular, comprehensive and appropriate identification, assessment, management and monitoring of risks. Regular review and monitoring maintain a necessary and adequate control environment to minimise risks and make the most of opportunities.

The regular risk management process covers all of Springvest’s operations. Where necessary, a separate risk analysis is also carried out for an individual measure or event, such as product development or a change in legislation.

A detailed description of Springvest’s risk factors can be found in the company description (pdf, in Finnish).