GC continuously promotes a risk management culture throughout the organization and has extended its efforts into an integrated GRC (Governance, Risk Management & Internal Control and Compliance) management approach to ensure a stable and sustainable growth. GC develops a risk culture guideline and enforces it throughout the organization. There are six components as follows: 1) Risk Governance, 2) Leadership, 3) Risk Structure, 4) Risk Technique, 5) Risk Communication and 6) Risk Management Knowledge. The company has established a comprehensive risk management structure covering all levels and required regular monitoring and reporting of risk management to executives and the Board of Directors on a quarterly basis.
GC’s risk management structure covers all levels. Roles, duties and guidelines are also assigned to each level. The Risk Management Committee (RMC) is appointed by the Board of Directors to govern risk management through risk management policies, risk appetite and risk management framework.
The Management Committee (MC), the Enterprise Risk Management Committee (ERMC), and senior executives from various departments are authorized to manage corporate risk management performance in accordance with policies, objectives, and frameworks approved by the RMC.
GC has appointed managers to be a “GRC Partner” in order to advice as well as present, improve and report risk management in accordance to GRC, in order to strengthen the risk management capability in all levels.
Regularly monitor and report risk management performance to the management and the Board of Directors as well as communicate about risk management and the internal control system, GC Group Code of Conduct, and corporate governance culture through diverse channels, such as intranet, newsletter, Hook Talk short video clips. Executives are required to regularly utilize Hook Talk to convey contents to employees in internal meetings, etc.
Furthermore, risk management and related issues are communicated through the Annual Report and the Integrated Sustainability Report to strengthen corporate risk management culture.