At Tele2, we believe that every risk also presents an opportunity. We work proactively to identify and monitor the most important risks through an enterprise risk management process as described below.
The purpose of this program is to achieve the following objectives:
Fewer Surprises - To ensure that all key business risks are identified, evaluated, controlled and monitored.
Effective decision making - To assist management at all levels with prioritising their activities and hereby create room for Tele2 to achieve its strategic objectives.
Reduce impact and likelihood of identified risks - To assist the Board and management with their prioritisation and understanding of risks,
Some key highlights of Tele2’s Risk Management journey
- Tele2 bases its risk management program on the COSO framework (www.coso.org) and classifies risks as either Strategic, Operational, Compliance or Financial.
- We consider risk management an integral part of managing our markets and fundamental to our governance structure and related accountabilities, thereby encouraging a healthy risk culture.
- The Board of Directors has oversight responsibility over the risk management process and oversees the management of risk through the Audit Committee.
- We have an integrated process for managing risks throughout our organization in accordance with our Enterprise Risk Management policy and embedded risk appetite.
- Enterprise Risk Management supports our markets and our management teams by embedding risk management in our key day-to-day business processes and in identifying, assessing, quantifying, monitoring, reporting, and mitigating the risks taken by our markets and Tele2 overall.
- We also recognize the fact that ongoing mitigation actions might not always fully mitigate impacts on our business, results of operations, cash flows, liquidity or financial condition.
For more information about Enterprise Risk Management process (including internal control over financial reporting), refer to our latest annual report. Continuous awareness of our risk management procedures are informed through a detailed guidance document.
Tele2 Company risks
- Vision and Mission
- Strategic initiatives
- Financial targets
- Financial reporting
- Legal and regulatory
- Corporate responsibility and ethical conduct
- Product management
- Supply chain
- Asset management
- Service delivery
- Customer management
- Sales channels