Risk Assessment Policy
Effective Date: August 9, 2024
Last Reviewed: August 9, 2024
Next Review Date: August 9, 2025
Version: 1.0
1. Purpose
The purpose of this Risk Assessment Policy is to establish a structured process for identifying, evaluating, and managing risks within Syma R&M Solution Kft. The policy aims to protect the organization’s assets, ensure business continuity, and support informed decision-making.
2. Scope
This policy applies to all departments, business units, employees, contractors, and third-party service providers within Syma R&M Solution Kft. It covers all types of risks, including but not limited to operational, financial, strategic, compliance, and reputational risks.
3. Definitions
- Risk: The potential for loss, damage, or any other negative outcome that may impact the organization’s objectives.
- Risk Assessment: The process of identifying, analyzing, and evaluating risks to determine their potential impact on the organization.
- Risk Management: The process of implementing strategies and actions to mitigate, transfer, avoid, or accept identified risks.
4. Policy Statement
Syma R&M Solution Kft. is committed to proactively identifying and managing risks to ensure the sustainability and growth of the organization. All employees and stakeholders are responsible for contributing to the risk assessment process by identifying and reporting potential risks.
5. Risk Assessment Process
The risk assessment process at Syma R&M Solution Kft.. involves the following steps:
Step 1: Risk Identification:
Conduct regular risk identification exercises across all departments and operations.- Use methods such as workshops, interviews, brainstorming sessions, and checklists to identify risks.
- Document all identified risks in the organization’s Risk Register.
Step 2: Risk Analysis:
Evaluate the likelihood and potential impact of each identified risk.- Use qualitative and quantitative methods to assess risks, including risk matrices, scenario analysis, and financial modeling.
- Categorize risks according to their severity (e.g., low, medium, high).
Step 3: Risk Evaluation:
Compare the results of the risk analysis against the organization’s risk tolerance and appetite.- Prioritize risks based on their potential impact and likelihood of occurrence.
- Identify risks that require immediate action and those that can be monitored over time.
Step 4: Risk Treatment:
Develop and implement risk treatment plans to mitigate, transfer, avoid, or accept risks.- Assign responsibilities for risk management actions to appropriate personnel.
- Ensure that risk treatments are documented, monitored, and regularly reviewed.
Monitoring and Review:
- Regularly monitor identified risks and the effectiveness of risk treatments.
- Review and update the Risk Register and risk management strategies as necessary.
- Conduct periodic risk assessment reviews, especially when significant changes occur in the organization or its environment.
Step 5: Reporting:
Report significant risks and risk management activities to senior management and the board of directors.- Ensure that risk management is a regular agenda item in management meetings.
Step 6: Roles and Responsibilities
Senior Management: Provide oversight and ensure that the risk assessment process is implemented effectively.- Risk Manager: Raphael Sultan will lead the risk assessment process, maintain the Risk Register, and report on risk management activities.
- Department Heads: Identify and assess risks within their departments and implement risk treatments.
- All Employees: Report potential risks and contribute to the risk assessment process.
6. Training and Awareness
Syma R&M Solution Kft. will provide regular training and awareness programs on risk assessment and management to ensure that all employees understand their roles and responsibilities in managing risks.
7. Policy Review
This policy will be reviewed annually or more frequently as needed to ensure its relevance and effectiveness in managing risks within the organization.
8. Compliance
Non-compliance with this policy may result in disciplinary action, up to and including termination of employment or contracts.
10. Contact Us
For any questions or concerns regarding this policy, please contact:
Syma R&M Solution Kft.
Email: support@syma-creators.com
Phone: +44 7488 813802
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