The Kindred Group has implemented a holistic risk management process to ensure that Group risks are managed in a proactive manner.
Risk governance
The Board via the Audit Committee has the overall responsibility for the risk management process and risk governance. The Executive Committee is responsible for identifying, assessing and managing the risks within the Group.
The Risk Management and Internal Audit teams perform reviews of the effectiveness of the risk mitigation controls and report the results to the Audit Committee regularly.
The Kindred Group divides the principal risks into general risks and Groupspecific risks.
The Kindred Group divides the principal risks into general risks and Industry-specific risks.
General risks
- Strategic
- Operational
- Financial
- Compliance
Industry-specific risks
- Odds/Trade related risks
- Fraud, anti-money laundering and legal risks. These are discussed in the Sustainabilty report, see the Responsible gambling section, page 18, and the Compliance section page 32.
Risk management process
Risks are identified using the process as described in the Annual Report page 25. Identification and assessments are done across the Group via regular workshops with key stakeholders. The results are compiled into a risk report which is presented annually to the Audit Committee and the Board of Directors into a risk report which is presented on a bi annually basis to the Audit Committee.
A risk owner is identified for all risks and has the responsibility to implement the mitigation strategy and to monitor the risk.
For more information about Risk Management, please see the Annual Report.
