Risk Governance Structure
Our Board of Directors has delegated oversight of our risk management to the Board Risk Committee, a sub-committee comprising Executive and Non-Executive Directors.
The Board Risk Committee (BRC) is the apex body for risk management in Olam. Its purpose is to assist the Board in (1) examining the effectiveness of our risk management plans, systems, processes and procedures; and in (2) reviewing Group-wide risk policies, guidelines and limits as well as risk exposure and risk treatment plans. At the start of the financial year, the BRC usually recommends the overall company Value at Risk (VaR) to the Board for approval. The VaR is expressed as a percentage of our equity capital.