Risks | Risk profile | Policy or other guideline | Responsible body |
Strategic risks | Wärtsilä's strategy and business plan | Wärtsilä's Board of Directors (BoD), Board of Management (BoM) and Businesses | |
Business environment risk | ![]() ![]() ![]() ![]() ![]() |
Wärtsilä's strategy and business plan | BoM and Businesses |
Market and customer risk | ![]() ![]() ![]() ![]() ![]() |
Wärtsilä's strategy and business plan | BoM and Businesses |
Competitive situation and price risk | ![]() ![]() ![]() ![]() ![]() |
Wärtsilä's strategy and business plan | BoM and Businesses |
Political and legislative risk | ![]() ![]() ![]() |
Various guidelines and risk management policy | Businesses, R&D, Risk management (RM) and Legal functions |
Climate change and sustainability risk | ![]() ![]() ![]() |
QHSE policy, Code of Conduct, management systems (ISO 14001 & OHSAS 18001) | Businesses, R&D and Sustainability function |
Technology risk | ![]() ![]() ![]() |
Patents and industrial rights, product guarantees | Businesses and R&D function |
Operational risks | Wärtsilä's strategy and business plans | BoM and Businesses | |
Manufacturing risk | ![]() ![]() ![]() ![]() |
Production systems, Business Continuity Plan | Manufacturing and Businesses |
Supplier and subcontractor risk | ![]() ![]() ![]() ![]() |
Supplier requirement and supplier management system, Business Continuity Plan | Businesses and Supply Management |
Lifecycle quality of products and product liability risk | ![]() ![]() ![]() ![]() |
Management systems (ISO 9001), safety instruction and manuals, risk management policy, R&D risk elimination instructions | Manufacturing, R&D function, Businesses, RM and Legal functions |
Contractual risks | ![]() ![]() ![]() ![]() ![]() |
Standard contracts | Legal function and Businesses |
Commodity price risk | ![]() |
Production cost control | Businesses and Treasury function |
Data security risk | ![]() |
Data security principles and Cyber Security Strategy | Businesses and IM function |
Non-compliance risk | ![]() ![]() |
Code of Conduct, Anti-corruption policy, Compliance policy | Businesses and Compliance function |
Hazard risks | Risk management policy and guidelines | Businesses and RM function | |
Personnel risk | ![]() |
Management system (OHSAS 18001), travel safety instructions, crises management guidelines, near misses reporting and premises safety plans | Businesses, Human Resources (HR), RM and security functions |
Natural catastrophes | ![]() |
Crises management guidelines, Business Continuity Plan | Businesses and RM function |
Fire, cargo and other accidents | ![]() ![]() ![]() |
Management systems (ISO 14001 & OHSAS 18001), premises safety plan | Businesses, RM and Real Estate functions |
Financial risks | Wärtsilä's strategy and business plans | Businesses and Treasury function | |
Foreign exchange risk | ![]() ![]() |
Treasury policy | Businesses and Treasury function |
Interest rate risk | ![]() ![]() |
Treasury policy | Businesses and Treasury function |
Liquidity and refinancing risk | ![]() ![]() |
Treasury policy | Businesses and Treasury function |
Credit risk | ![]() ![]() ![]() |
Credit and Treasury policy | Businesses and Treasury function |
Wärtsilä's risk profiles & responsibilities
Low
High
Note
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