Bangkok Aviation Fuel Services PCL’s is concerning about the important of strategic and risk management as an adequate and appropriate tool of risk control to be in the scope of Risk Appetite and Risk Tolerance and consecutively practice which could help company and subsidiaries reach its goal and sustainable business management.
Risk Management guideline
Risk Management Committee has authority to overseeing the company and subsidiaries’ corporate risk management.
Risk Management Committee has authority to overseeing fraud risk and corruption risk management to be in line with the Corporate Good Governance, Code of Conduct and Anti-Corruption policy.
The Risk Management Committee has the authority and duty to review the results of company weaknesses and threats analysis, for strategic planning that align with risk appetite.
Every department is responsible for setting its own purpose to control risk and create risk evaluation table, setting risk index including the fraud risk and corruption risk controlling which in line with the Corporate Good Governance, Code of Conduct and Anti-Corruption policy and reporting on risk relating issue according to the firm-wide practice.
Risk indicator and Risk control that affect the department’s purpose will be systematically created to maintain an acceptable risk level under the controllable of each company’s management.
Acceptable risk and level of acceptable risk must be approved by the risk management board before implementation.
An evidence of risk that could affect company or contradictory with the Corporate Good Governance, Code of Conduct and Anti-Corruption policy must be reported to its supervisor at the soonest to allow for necessary action.
All risk management procedure and guideline must be strictly followed and monitored on a continuous under the monitoring of Risk Management board and Company Management.