The central principle of Bilot’s risk management is continuous, systematic and preventive action taken to determine an acceptable level of risk; to recognise, assess and handle risks and, in the case of damage, to effectively manage and mitigate damage in such a way that the company achieves its strategic and financial goals. Risk management is part of management, monitoring and reporting systems.
Risk management includes identification, evaluation and contingency plans.
Bilot’s strategic and operational objectives are used as a starting point for recognising risks. Risk analyses and evaluations are carried out as self-evaluation.
Risks associated with Bilot’s business activities and operating environment have been described in the company description.
Risk Management Responsibilities
Board of Directors: Strengthening the principles and responsibilities of risk management. Assessing the adequacy of risk management.
CFO: Organisation and guidance of risk management.
The Company CEO in cooperation with the Management Team: Organisation of risk management at the company level, assessment of operational and strategic risks and measures designed to minimise risk.