Risk Management

Asia Iron Australia (AIA) is committed to establishing an enterprise wide approach to risk management in line with the requirements of the AS/NSZ ISO 31000:2009 Risk Management – Principles and Guidelines. 
    
The Enterprise Wide Risk Management (EWRM) Program will sit within the overall AIA corporate governance framework and consists of seven key standards, these being:
1)    EWRM Program Framework
2)    EWRM Risk Assessment Criteria and Techniques
3)    EWRM Mitigation Framework
4)    EWRM Compliance Framework
5)    EWRM Business Continuity Management
6)    EWRM Business Performance
7)    EWRM Investment and Project Governance

Asia Iron Australia have developed a EWRM Policy that outlines its aim to build a culture where personnel are “Risk Aware” and able to make the right decisions at the right time for the right reasons for the right outcomes. All personnel are responsible for the application of the EWRM Policy. The policy's clearly defined objectives are:

• To create and protect business value by understanding material risks faced by our business;
• Uphold the values of Asia Iron Australia as a good corporate citizen; and
• Prioritise our business' available resources to the things that matter most.

To achive the EWRM Policy objectives we will:

• Integrate risk management within the business, in our systems, procedures and activities;
• Identify and assess risks (to our business objectives and understand how these risks influence our performance);
• Ensure our goals are clear and risks to achieving them are understood;
• Educate personnel and stakeholders so that our requirements and approach are consistently applied and understood;
• Comply with all applicable legislation and regulations, and industry codes and standards that pertain to risk management including AS/NZS:ISO 31000:2009;
• Have an organisational structure that ensures responsibility and accountability for risk management;
• Communicate material risk information through an efficient and effective reporting process; and
• Annually review the Policy, and communicate it to all relevant internal and external stakeholders.

To view the Asia Iron Australia Enterprise Wide Risk Management Policy Click Here