Risk Management

At Venture Infotek, Risk Management is a corporate culture and is part of its ‘values'. The management is committed to adopt and implement risk management processes. The company is currently adopting Enterprise Risk Management (ERM) with a comprehensive and integrated framework for managing company-wide risk in order to maximize the values of the company. It is not only ‘top to bottom', but also ‘upwards' and everyone in the organization who is committed to risk management.

Risk Management Frame Work of Venture Infotek

• Corporate governance to ensure that the board of directors and management has established the appropriate organizational processes and corporate controls to measure and manage risk across the business.
  
• Creation and maintenance of a sound system of internal control to safeguard the interests of all its stakeholders
  
• Setting up of Risk Management function to implement the internal controls with sufficient knowledge and experience to derive the maximum benefit from the process
  
• A clear risk management process, which sets out the individual processes, their inputs, outputs, constraints and enablers

Risk Management Process

The risk management process in Venture Infotek is broken down into six processes:

• Stage 1: Analysis
  
• Stage 2: Identification
  
• Stage 3: Assessment
  
• Stage 4: Evaluation
  
• Stage 5: Planning
  
• Stage 6: Management
  

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