Risk management

Siili’s Board of Directors is responsible for the appropriate and effective organisation of risk management. Siili’s Board of Directors has adopted a risk management policy used to identify the group’s strategic, operational, financial and hazard risks. In the course of its activities, the Company takes risks related to its strategy and the implementation of the objectives, balanced with its risk capacity. The objective of risk management is proactive and comprehensive management of these risk areas, which enables the achievement of the Company’s strategy and financial targets in a controlled manner. Risk management is included as part of the Company’s business processes. Risks at Siili are categorised into strategic operational, financial and hazard risks.  

Siili’s most significant risks, material changes therein, and the management measures are reported to the Audit Committee of Siili’s Board of Directors in connection with the review of the half-yearly report and financial statements. The Chair of the Audit Committee reports on risk management to the Board of Directors as part of Audit Committee reporting Siili’s Board of Directors reviews the most significant risks and their management measures, and evaluates the effectiveness and operability of risk management.