Pacific National’s approach to risk is based on best-practice international standards and is underpinned by a range of detailed systems, programs and policies including:
- delegations of authority;
- a comprehensive Health, Safety and Environment Management System;
- an environmental regulation compliance policy and improvement initiatives;
- annual strategic planning reviews to identify risk;
- annual budgeting and monthly reporting systems to monitor performance against targets;
- a Board-approved treasury policy to manage exposure to credit, liquidity and market risk; and
- a comprehensive annual insurance program.
Pacific National’s Enterprise-Wide Risk Management Framework delivers an integrated approach to managing risk across all aspects of the business and is reviewed and updated every two years.