The Company recognizes that risk is dynamic and is inherent in all external and internal operating environments, and that managing risks is vital in defining the organization’s purpose, process and expected results, which are the foundations of its daily operations. The risk management philosophy of the Company is to integrate risk management practices into its business strategy and performance to drive consistent, effective and accountable management in achieving the Company’s business objectives.
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The Board of Directors at SBS Philippines Corporation promotes a risk-aware culture, making risk management a responsibility for every employee and an integral part of strategic planning and daily decision-making. The Chief Risk Officer (CRO) oversees the enterprise risk management process, recommending improvements and managing risks to achieve company objectives efficiently.
The Audit and Risk Oversight Committee (ARO) reviews and monitors these activities, ensuring effective risk management systems. They annually review approaches and recommend policies to the Board. The company employs the “three lines of defense” approach, where all employees, line supervisors, managers, and compliance staff actively manage risks, while the Board oversees the entire effort.
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