Wärtsilä's risk profiles & responsibilities

Risks

Risk profile Policy or other guideline Responsible body
Strategic risks   Wärtsilä’s strategy and business plan Wärtsilä Board of Directors (BoD), Board of Management (BoM) and Wärtsilä’s Businesses (Businesses)
Business environment risk      Wärtsilä’s strategy and business plan BoM and Businesses
Market and customer risk      Wärtsilä’s strategy and business plan BoM and Businesses
Competitive situation and price risk      Wärtsilä’s strategy and business plan BoM and Businesses
Political and legistlative risk    Various guidelines and risk management policy Businesses, R&D, Risk management (RM) and Legal functions
Climate change and sustainability risk    QHSE policy, Code of conduct, management systems (ISO 14001 & OHSAS 18001) Businesses, R&D and Sustainability management function
Technology risk    Patents and industrial rights, product guarantees Businesses and R&D function
Operational risks   Wärtsilä’s strategy and business plans BoM and Businesses
Manufacturing risk     Production systems, Business Continuity Plan (BCP) Wärtsilä Industrial Operations (WIO) and Businesses
Supplier and subcontractor risk     Supplier requirement and supplier management system, Business Continuity Plan (BCP) Businesses and Corporate Supply Management (CSM)
Lifecycle quality of products and product liability risk     Management systems (ISO 9001), safety instruction and manuals, risk management policy, R&D risk elimination instructions WIO, R&D function, Businesses and RM and Legal functions
Contractual risks      Standard contracts Legal function and Businesses
Commodity price risk Production cost control Businesses and Treasury function
Data security risk Data security principles Businesses and IM fuction
Hazard risk   Risk management policy and guidelines Businesses and RM function
Personnel risk Management system ( OHSAS 18001), travel safety instructions, crises management guidelines and premises safety plans Businesses, Human Resources (HR) and RM functions
Natural catastrophes Crises management guidelines, Business Continuity Plan (BCP) Businesses and RM fuction
Fire, Cargo and other accidents    Management systems (ISO 14001 & OHSAS 18001), premises safety plan Businesses, RM and Real Estate (RE) functions
Financial risks   Treasury policy Businesses and Treasury function
Foreign exchange risk    Wärtsilä’s strategy and business plans Businesses and Treasury function
Interest rate risk    Wärtsilä’s strategy and business plans Businesses and Treasury function
Liquidity and refinancing risk    Wärtsilä’s strategy and business plans Businesses and Treasury function
Credit risk     Credit policy Businesses and Treasury function

 Low    High

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