- Latest ESG News
- Sitemap
- Stakeholder Service
- Management Commitment and Philosophy
- Sustainability Performance
- Corporate Sustainability Management
- Corporate Governance
- Sustainable Supply Chain Management
- Conflict Minerals Management
- Sustainable Envrionment
- Talent Transition and Happiness in Workplace
- Social Participation
- Interactive zone
- Policy and Certificate
- Sustainability Report
▶️Risk Management
Risk Management
WPG Holdings promotes integrated risk management. The risk management units at each level include risk management in the operational processes through systematical risk identification, risk assessment, risk response, and monitoring considering the enterprise holistically in order to reach the goal of organizational integrated management. WPG Holdings aims to maximize the quality and quantity of revenue under an acceptable risk level and thus optimizes resource utilization. Internal training is also continuously conducted to ensure employee awareness and to establish a risk awareness culture within the organization.
Since the establishment of the Risk management unit in 2017, WPG Holdings continued to monitor risk, identified by each function, and at the same time strengthen employee awareness. In addition to risk management education and training for all employees, fire prevention, emergency response, and personnel safety reporting mechanism drills are also held for major offices and logistics warehouses in various regions.
Organizational Structure of Risk Management
WPG Holdings' highest decision-making body for risk management is the Risk Management Steering Team, which is composed of the CEOs of the four major sub-groups and the CEO of WPG Holdings. Among them, the CEO of WPG Holdings is the convener of the decision-making team, and directly reports decisions to the Board of Directors. The convener of the Risk Management Steering Team (the CEO of the Holdings) convenes monthly meetings with the risk management units of each group who report the results, and the CEO of the holdings proposes the guidance and decision-making of risk management plans to strengthen risk management. Consequently, WPG Holdings Risk Management Service Unit, which operates independently of the business unit, integrates the risk identification, evaluation, prioritization, implementation of action plans, and risk disclosure of the risk management units of each sub-group, and debriefs with the convener of the Risk Management Steering Team.
The WPG Holdings Risk Management Service Unit regularly compiles the risk management results and reports them to the Audit Committee. The Audit Committee provides recommendations on a semi-annual basis and adjusts the action plans based on the management improvement recommendations directed by the Audit Committee, and the CEO of WPG Holdings communicates and discusses them with each group at the monthly meetings. The WPG Holdings Risk Management Service Unit compiles the annual risk management performance and reports it to the Board of Directors every year.
Risk Management Process
WPG Holdings completed the first risk identification in 2017, continues to supervise and manage existing risks annually, and reports to the CEO of the Holding Company monthly to review the risk management performance. In addition, the company identifies the emerging risks and key risks given the changes in the industrial environment and international situation. The risk management process of WPG Holdings (as shown in the figure below) includes Risk Identification, Risk Measurement, Risk Response, Monitoring and Review, as well as Report Communication and Consultation; this management structure follows the management spirit of PDCA (Plan, Do, Check, Action), and the identification of emerging risks has been integrated into the risk management.
-
Risk Identication
-
Risk Evaluation
The risk evaluation is executed by the functional supervisors of WPG Holdings to conduct risk identification and evaluation, sort and identify the impact and vulnerability. Finally, the key risks are identified according to the risk score. Each corresponding unit responds to, executes, and follows up with the action plans for the key risks. The Risk Management Service Department monitors, tracks, and reports monthly.
- Risk Monitoring
Each functional unit shall monitor related risks and formulate corresponding control measures.
- Risk Response and Tracking
WPG Holdings Risk Management Service conducts monthly follow-up management of key risk response strategies and reports to the convener of the Risk Management Steering Team.
Identication of Key Risks and Risk Control Measures in 2023
Currently, the WPG Risk Management Service Unit conducts regular management of key risk indicators including confidential data management risk and critical outsourced vendor business suspension risk (IT), inventory risk, AR risk, warehouse BCM, office BCM, and information security risk management, and establishes a monitoring indicator mechanism and risk response tracking management reports.