Board Risk Committee
Our Board of Directors has delegated oversight of our risk management to the Board Risk Committee (BRC), a sub-committee comprising Executive and Non-Executive Directors. The BRC is the apex body for risk management in Olam.
Its purpose is to assist the Board in:
- Examining the effectiveness of our risk management plans, systems, processes and procedures; and in
- 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.