Risk is inherent in all of the business activities of the organization. By embedding risk management in to company business processes in a practical way, a structural means for identifying, prioritising and managing the risks associated with WEC business activities is created.
The board is ultimately, responsible for risk management governance, audit & compliance and determines the level of risk bearing capacity and risk appetite within the organisation. The board reviews the risk profile of the organisation quarterly and annually. As part of this process, the board relies on the Risk committee and the internal audit department to review and report on strategic, tactical and operational risks.