From simple fulfillment of reporting obligations to the impact assessment of potential events on the strategic decisions of the Group: a management tool to support the activities of Management and the Board of Directors
In the world of yesterday, a group like Autogrill need not necessarily have had a specialised Risk Management Department, yet today everything has changed.
Looking at the previous risk management model, from today's world, shaken up every now and then by global crises, those who have been involved in the change are only too aware of having witnessed a "major transformation".
Change takes shape
The opportunity to change the status quo first arose in 2011: the new Corporate Governance Code issued by Borsa Italiana (the Italian Stock Exchange) required various changes to be made at the organisation level, precisely as regards risk management.
The task is assigned to the Department of Group Enterprise Risk Management - headed since 2010 by Anna Fabbri. The work is intense, but the result is excellent: a roadmap is designed that will position in a few years the Autogrill Risk Model amongst best practices worldwide. Bridging two different worlds, it blends the past with the future that will see Autogrill having an innovative and effective model for risk management.
Presentation to the Board of Directors
Also the new model Autogrill Risk Management model has a precise date: October 18, 2012, when Anna Fabbri, Head of Group Enterprise Risk Management, presents the work of her team to the Board of Directors, which shares its foundations and its first application from Industrial Plan 2013-2017.
"It is the whole organization that must proactively contribute to risk management, not only those who manage risks directly." Anna explains "What our risk management model's aim is, is to be integrated in the individual business processes, particularly in key decision-making throughout the whole organizational structure".
Since then, a great deal has changed in Autogrill.
There is now a central department providing business unit managers with methods and support, despite the fact that in an ultimate analysis, it is they who oversee the process and identify potential risk events.