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Page Content
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Risk and Compliance
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[column 12 layout="default" class="text"]Risk Management is an integral part of the PIC business – for Corporate and Asset under Management (AuM). PIC has adopted a Top-down and Bottom-up approach to Risk Management. In terms of this approach, risk identification is informed by the PIC’s strategy and vision. The PIC management, guided by the Combined Assurance team, identifies risks that impact the PIC at both corporate and strategic levels. The business unit risks are then mapped to corporate risks. The PIC has the following various dedicated teams that manage risk within the Risk Management Department:
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Risk Management Process
Risk Management involves the identification, assessment, prioritisation and response to risks that may impact on achieving strategic and operational objectives. The management, monitoring and reporting of these risks ensure that we minimize the probability and impact of negative events, and maximise the potential of credible opportunities. The PIC has adopted an enterprise-wide approach to managing risk, which is defined in its Enterprise Risk Management Framework (ERMF).[/column]
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Principal Risks
The PIC has identified Principal risk categories that are significant to the Corporation. These are:[/column]
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