You are key to risk management at GEP
Effective risk management is critical for GEP to fulfill its mandate, and while there is a unit dedicated to the function, risk management is integrated into GEP’s day to day operations, making all of us responsible. The Acting GM: Risk and Audit, Sibusisiwe Ntuli took some time to answer questions on Risk Management to help the GEP team understand its responsibilities.
What is Risk management (RM)?
RM is a coordinated process to identify, evaluate, respond, manage and address potential risks that may affect the entity.
What are some of the more common things that can put the entity at risk?
There are a number of potential risks in the normal running of any entity, these may include external risks such as security breaches, data loss, cyberattacks, system failures and natural disasters, as well as internal risks such as deviation from policies and processes, leaking of confidential information, fraudulent activities and lack of consequence management.
Who is responsible for RM?
All levels of personnel at GEP are responsible for Risk Management in one way or another. To simplify it:
- The board performs the ultimate oversight function on risk management at GEP.
- The Risk Management Committee (RMC) assists the Board in carrying out its risk governance responsibilities.
- The CEO sets a positive tone for RM throughout the organization.
- Executive and Managers take ownership of the risks and RM within their areas of responsibilities.
- The Risk unit monitors, communicates, and reports on key risk matters to the Board, RMC, EXCO, and other appropriate Board committees.
- The Risk champions co-ordinate RM activities within their respective Business Units without assuming the role of the Risk Owner.
- And as employees we are all responsible for the continuous identification and assessment of the risks attached to our operations.
Tell us more about how can employees play their part?
It is important for the GEP to team understand processes so they can help identify and report risks within their operations. The earlier we can identify potential risks, the more effectively we can manage and mitigate those risks.
How can employees report suspected wrongdoing?
Employees can contact the anonymous hotline through these channels:
HOTLINE DETAILS
Hotline Name: GEP Fraud Hotline
Contact Number: 0800 006 434
WhatsApp Number: 0860 004 004
Dedicated Email Address: gep@behonest.co.za
SMS Number: 48691
Free Post: BNT165, Brooklyn Square, 0075
Website & Chat Link: www.behonest.co.za
What is your message to team GEP on their responsibility?
Team GEP, you are key to risk management at GEP. From ensuring that all policy prescripts are followed on a day to day basis, to not looking the other way, when you suspect wrongdoing, it is through your efforts that we can manage risks and thereby succeed in our efforts of lifting the Gauteng economy through SMME development.