Risk Management
The Leonardo Electronics US risk management is in line with the Corporate Governance Code and the Organization, Management, and Control Model as per Leg. Decree 231/01 and Leonardo’s Anti-Corruption Code, as well as in line with national and international standards and best practices, provides that:
- The Board of Directors oversees the internal control system and risk management system and defines their guidelines;
- Control bodies have access to information and an adequate overview over risk management control systems consistent with their monitoring responsibilities;
- Second-tier functions define processes, procedures, and methodologies so that company activities can be dealt with using a “risk-based” approach;
- Business units, technical and support functions identify, evaluate, and treat project and enterprise risks, with reference to defined objectives and managed processes, giving adequate information to higher reporting levels;
- Internal Audit systematically acquires the results of the activities of risk assessment and monitoring to perform the related evaluations so as to plan the control activities under their responsibilities.
In the Leonardo organizational model, the Risk Management unit, in close collaboration with the Corporate and Division structures, ensures the dissemination of methodologies, metrics, and tools for the correct analysis and management of risks, with the aim to guarantee the creation and protection of the value of projects and to preserve over time the business value, the business operations, and the interests of the stakeholders.
The operational management of risks in Leonardo:
- Involves continuously the whole organization in the areas of Enterprise Risks and Project Risks
- Is supported by the Enterprise Risk Management (ERM) and Project Risk Management (PRM) processes;
- Is structured in the phases of Identification, Evaluation, Treatment, and Monitoring of risks and related response plans.