Schiphol's socio-economic role and its enterprising business model mean that it is susceptible to a range of strategic, operational, financial and compliance risks. A uniform policy has been developed to manage these risks. Risk management is an integral part of our business operations.
Our policy is based on the following philosophy:
- Board and management are responsible for developing and testing internal risk management and monitoring systems. These systems have been designed to identify significant risks, monitor the achievement of targets and ensure compliance with relevant legislation and regulations;
- Effective risk management and internal monitoring systems will reduce the likelihood of errors, wrong decisions and surprises due to unforeseen circumstances;
- Risk management has been integrated into line-management activities, as well as into the planning and control cycle;
- In order to thrive, an enterprise must take risks. The Management Board is responsible for determining the limits of what is acceptable (referred to as 'risk acceptance').