Risk management is an integral part of the management of business operations at Vapo Group. Comprehensive risk management supports the achievement of Vapo’s strategic and business goals and ensures the continuity of business operations under changing circumstances.
Successful and long-range business requires the proactive identification of business-related risks, managed risk-taking, the active monitoring of risk development and correct measures undertaken at the right time. During the past financial year, Vapo Group updated its risk survey based on the new strategy. The members of the Group Management Team are each responsible for managing various aspects of the risk survey.
The risk management that implements the aforementioned targets also constitutes a part of the job description of every Vapo employee. Risks are managed at different levels of the organisation depending on where they can be influenced. The implementation and effectiveness of risk management is the responsibility of the directors in charge of the business areas. They organise risk management activities in their respective business areas and report the most significant risks and their management methods to their administrative bodies and Vapo Oy’s Board of Directors at agreed intervals.
The main risks threatening the Group’s diverse operations and the ways to prepare for these risks are reported in the annual reports published by the Group companies.