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Wärtsilä's risk profiles & responsibilities

Risks Risk profile Policy or other guideline Responsible body
Strategic risks   Wärtsilä's strategy and business plans Wärtsilä's Board of Directors (BoD), Board of Management (BoM) and Businesses
Business environment risk square-dark-orange.gifsquare-light-orange.gifsquare-dark-gray.gifsquare-light-gray.gifsquare-blue.gif      Wärtsilä's strategy and business plans BoM and Businesses
Market and customer risk square-dark-orange.gifsquare-light-orange.gifsquare-dark-gray.gifsquare-light-gray.gifsquare-blue.gif Wärtsilä's strategy and business plans BoM and Businesses
Competitive situation and price risk square-dark-orange.gifsquare-light-orange.gifsquare-dark-gray.gifsquare-light-gray.gifsquare-blue.gif Wärtsilä's strategy and business plans BoM and Businesses
Political and legislative risk square-dark-orange.gifsquare-light-orange.gifsquare-dark-gray.gifsquare-light-gray.gif Various guidelines and risk management policy Businesses, R&D, Risk management (RM) and Legal functions
Climate change and sustainability risk square-dark-orange.gifsquare-light-orange.gifsquare-dark-gray.gif QHSE policy, Code of Conduct, management systems (ISO 14001 & OHSAS 18001) Businesses, R&D and Sustainability function
Technology risk square-dark-orange.gifsquare-light-orange.gifsquare-dark-gray.gif Patents and industrial rights, product guarantees Businesses and R&D function
Operational risks   Wärtsilä's strategy and business plans BoM and Businesses
Manufacturing risk square-dark-orange.gifsquare-light-orange.gifsquare-dark-gray.gifsquare-light-gray.gif Production systems, Business Continuity Plan Manufacturing and Businesses
Supplier and subcontractor risk square-dark-orange.gifsquare-light-orange.gifsquare-dark-gray.gifsquare-light-gray.gif Supplier requirement and supplier management system, Business Continuity Plan Businesses and Supply Management
Lifecycle quality of products and product liability risk square-dark-orange.gifsquare-light-orange.gifsquare-dark-gray.gifsquare-light-gray.gif Management systems (ISO 9001), safety instruction and manuals, risk management policy, R&D risk elimination instructions Manufacturing, R&D function, Businesses, RM, Quality and Legal functions
Contractual risks square-dark-orange.gifsquare-light-orange.gifsquare-dark-gray.gifsquare-light-gray.gifsquare-blue.gif Standard contracts, Corporate Sales Contracting Policy Legal function and Businesses
Commodity price risk square-dark-orange.gif Production cost control Businesses and Treasury function
Data security risk square-dark-orange.gif Data security principles and Cyber Security Strategy Businesses and IM function
Non-compliance risk square-dark-orange.gifsquare-light-orange.gif 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 square-dark-orange.gif Management system (OHSAS 18001), travel safety instructions, crisis management guidelines, near misses reporting and premises safety plans Businesses, Human Resources (HR), RM, EHS and security functions
Natural catastrophes square-dark-orange.gif Crisis management guidelines, Business Continuity Plan Businesses and RM function
Fire, cargo and other accidents square-dark-orange.gifsquare-light-orange.gifsquare-dark-gray.gif 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 square-dark-orange.gifsquare-light-orange.gif Treasury policy Businesses and Treasury function
Interest rate risk square-dark-orange.gifsquare-light-orange.gif Treasury policy Businesses and Treasury function
Liquidity and refinancing risk square-dark-orange.gifsquare-light-orange.gif Treasury policy Businesses and Treasury function
Credit risk square-dark-orange.gifsquare-light-orange.gifsquare-dark-gray.gif Credit and Treasury policy Businesses and Treasury function

 

Low    square-dark-orange.gif square-light-orange.gif square-dark-gray.gif square-light-gray.gif square-blue.gif    High

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