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Wärtsilä's risk profiles and responsibilities

RisksRisk     profile Policy or other guidelineResponsible body
Strategic risks   Wärtsilä's strategy and business plans 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, Production Risk Group
Supplier and subcontractor risk Supplier requirement and supplier management system, Business Continuity Plan (BCP) Businesses and Corporate Supply Management (CSM), Supply Chain Risk Group
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, Quality Risk Group
Contractual risks Standard contracts Legal function and Businesses, Liability Risk Group
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 Wärtsilä's 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