operation and governance
enterprise risk management
to ensure sustainable business achievements, usi organized a risk management committee to execute annual risk management activities according to business environment, industrial trend, and company operations.
through worldwide manufacturing sites, business units and function units, usi engages enterprise risk management (erm) project to identify risk events and factors, evaluate and adopt proper countermeasures to ensure sustainable management and achieve business operational goals.
usi’s erm process includes:
1. identify corporate level and operational level risks, list various risks that are facing by corporate and conduct top-down erm approach by top managements to confirm the focused items.
2. conduct bottom-up erm approach by operation units to check their management risks, inspect internal and external risk factors, and show the control results on risk map according to the evaluation of risk level and control effectiveness.
3. generate a corporate risk report based on risk evaluation results from operation units and corporate level. inspect risk situations, countermeasures and corporate opportunities. list corrective actions and risk mitigation plans for the risk items identified by each operation unit. for any risk whose frequency of occurrence is hard to be predicted, such as climate change or an economic recession under external environment risks, the assessment shall focus on the likely impact of such risk event rather than considering the occurrence frequency.
4. monitor quarterly progress of risk mitigation plans to ensure the risks are effective controlled, and convert the corporate risk management to the effective behaviors of organization strategies enhancement.