Risk management
Unica’s basic approach to integrated risk management is to systematically identify risks and opportunities, comprehensively and in good time, and to mitigate or use them, as appropriate. In determining the company’s risk appetite, the risks are constantly balanced against the financial performance. As part of the assessment process, the main threats are carefully considered, while the mitigating measures that could limit the risks are identified.
Unica has classified the risks in five categories. A degree of risk appetite has been assigned to each category, as shown in the table below.
Category | Risk appetite | Description |
Strategic | Average | Unica is willing to accept risks to fulfil its ambitions. During the assessment of risks, there is always a balance between commercial opportunities and long-term social and economic risks. |
Operational | Low | During the implementation of its operational activities, Unica limits the risks to the continuity of business operation and the quality of work for its customers. Safety is subject to a zero tolerance policy, according to which risks are never taken that could endanger the safety of employees, customers or work. |
Financial | Low | Unica enjoys a solid financial foundation, with a good balance between equity and loan capital. Financial project risks are avoided through careful financial project management. |
Digital | Low | With the help of technical, organisational and policy-based measures, Unica limits the digital risks associated with the digital transformation of its own organisation and the digitalisation of the external environment. |
Compliance | None | Unica applies the highest standards of integrity, complies with all relevant legislation and regulations and ensures that these standards are observed within all companies. |
Integrated risk management and security are becoming priorities in a growing number of aspects of operational management at Unica. This importance is amplified by the growth, the types of clients served, the service provided and the increased interest in our company. In order to better manage responsibility in that respect, a new position has been created for the risk management domain within the Executive Committee of a QHSE, Security & Risk director. The director appointed to this position, who has been promoted from within our own organisation, is also responsible for establishing enterprise risk management (ERM) and tying the resultant products into the existing structures within Unica.
Within the power of attorney schedule at Unica, all contracts with a value exceeding € 2.5 million undergo a check for legal aspects. If a contract amount exceeds the power of attorney, a bid form is drawn up that must be approved by the responsible director and the legal department and is assessed by the Board of Directors. For multiyear contracts with an annual contract value of more than € 10 million, approval is also required from the Supervisory Board.