Ervia; Managing risk, minimising threats, maximising potential
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Ervia operates an organisational wide approach to Risk Management which follows leading practice and aligns to the Code of Practice. Presentation delivered by Elaine O’Donoghue.
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Ervia; Managing risk, minimising threats, maximising potential
- 1. Ervia Risk Management Elaine O’Donoghue IPA Governance Forum Briefing – 10th November 2017
- 2. Ervia Overview - Our Structure Our customer facing businesses, Gas Networks Ireland and Irish Water, are supported by three functions: Major Projects, Shared Services and Group Centre. These functions provide expertise, support and transactional services on behalf of the entire organisation.
- 3. Our Purpose We enhance the health and quality of life of the people of Ireland, protect our environment and enable economic development, by delivering high quality water and gas infrastructure and services safely and efficiently We provide… Safe energy to warm homes and power businesses. We supply… Treated water for cooking, cleaning and drinking. We remove wastewater to keep our environment safe for everyone. We deliver… Vital infrastructure and services to 1.7 million customers across the length and breadth of Ireland.
- 4. Our Numbers 63,000km water network 25,000km wastewater network 13,700km gas network 1,100 wastewater treatment plants 900 water treatment plants Source:ErviaAnnualReport2016 €135m Dividends Paid €203m Profit before Tax €1.4bn Revenue €584m Capital Expenditure 9th largest company in Ireland by EBITDA 1,645Employees across 20 locations 1.7mCustomers
- 6. To Deliver on our Purpose We must Manage a Diverse Risk Profile Policy & Regulation Critical Infrastructure Capital Intensive Environmental Health & Safety Funding & Liquidity Stakeholders & Our People Growth & Innovation
- 7. Integrated Assurance Framework Key Risks Processes Controls Control Testing Reporting 7 Business Unit Forums Integrated Assurance Forum Audit and Risk Committee Board Internal Audit Assurance Reports signed off by Heads of Function and BU Managing Director/Executive Chaired by Group Finance Director and Chief Legal Officer
- 8. Ervia Enterprise Risk Management Policy & Framework ERM Policy Principals of Risk Management Risk Process Alignment to required Codes & Regulations Annual Policy review Risk Appetite Roles and Responsibility
- 9. 9 Ervia Risk Management Governance Framework Risk Owners, Control Owners, Process Owners Board Audit & Risk Committee Group Risk Management Committee (RMC) Irish Water RMC Gas Networks Ireland RMC Shared Service Centre RMC Functional Sub- committees Functional Sub- Committees Functional Sub- Committees Group Internal Audit Ervia Board Committee BottomUpTopDown Major Projects RMC Risk Champions Group Centre (HQ) RMC Functional Sub- committees Functional Sub- Committees Risk Management at all levels of the organisation Risks Roll-up
- 10. Examples: Key Risks, HILPs and Emerging Risks Key Risks IW Funding and Liquidity Recovery of IW Brand Failure to deliver the most Critical Major Projects or deliver on our Transformation Programmes HILP Risks Major Safety Incident Major Outage or Trunkmain Failure leading to critical water restrictions Extreme Weather Event impacting supply of services (GNI/IW) Emerging /Trending General Data Protection Regulations Climate Change Brexit
- 11. Staleen Water Treatment Plant Outage 11
- 12. Storm Ophelia 12
- 13. Risk Appetite • Ervia as a regulated semi-state commercial body would be viewed overall as “Low Risk Taking ” from a utility perspective • Within this the Board, annually, set the risk appetites for key risk areas aligned to our strategic objectives • Indicative Examples: 13 Strategy Pillar Risk Area Trust & Respect Reputation & Stakeholder Smart & Efficient Innovation & Growth Successful Enduring Business Model Finance
- 14. Conclusion Ervia operates an organisational wide approach to Risk Management which follows leading practice and aligns to the Code of Practice We are continuously embedding our risk culture - enabling the right risks to be taken in an informed manner An articulated Risk Appetite allows us to link key discussions on strategy and performance to the amount of risk we want to take Risk Management enables us to identify and take more opportunities Key enablers are a clear organisational purpose, lived values and a strong tone from the top The Ervia Values Collaboration | Integrity | Safety | Performance | Customer Service 14
Editor's Notes
- The Framework supports implementation of the policy and ensures a consistent and effective approach to the management of Enterprise Risk within Ervia The Framework sets out a common risk language and risk process to be used across Ervia to enable a strong risk culture At least quarterly, every Business Unit with Senior Management /Executive involvement must conduct a review of the internal and external environment