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Integrated report Statutory reportS FInancIal StatementS
Management Discussion and Analysis

Overview the key roles and responsibilities regarding risk management in
risk Management is an integral part of Company’s strategy and the Company are summarised as follows:
planning process. Based on proactive identification of risks, 1. Board of Directors
action plans are devised to mitigate the risks that could materially reviewing and guiding risk policy of the Company
impact the Company’s long-term sustainability. Mitigation plans ensuring the integrity of the systems for risk management
with identified owners are set against target dates and progress
of mitigation actions are monitored and reviewed. erM in the 2. Risk Management Committee of Board
Company seeks to minimise adverse impact on business objectives
and to enhance stakeholder value. overseeing the Company’s risk management process and
controls
over the years, the erM process has evolved into a robust exercise Setting strategic plans and objectives for risk management, risk
entailing a balanced ‘bottom-up’ and ‘top-down’ approach philosophy and risk minimisation
covering all units, functions and departments of the Company and reviewing compliance with policies implemented by the
its subsidiaries. Company
as a process, the Company follows a well-defined 4-step erM process reviewing risk assessment of the Company annually and
to address the risks associated with its business. the erM process exercising oversight of various risks including Strategic risk,
framework has evolved and matured over the years and is based operational risk, Market risk, Cyber Security, etc.
on international standards including ISo 31000 and the Committee oversight of the Company’s risk tolerance and risk appetite
of Sponsoring organizations of the treadway Commission, with report and update to the Board periodically on various matters
inputs drawn from the best practices of leading companies across it has considered
industries but tailored to suit tCl’s business needs. risk Management reviewing and analysing risk exposure related to specific issues,
and Internal audit functions complement each other at tCl. concentrations and limit excesses and provide oversight of risk
across organisation.
Risk Management: Governance Structure 3. Risk Management Group at Senior Leadership Level
the Company has constituted a robust governance structure Identification and review of enterprise risks from time to time,
consisting of 5 levels thereby ensuring both bottom-up and initiating mitigation actions, identifying owners and reviewing
top-down approach.
progress
It constituted the risk Management Committee (‘rMC’) to oversee Identification and review of risk appetite and risk trigger (at
the risk management efforts in the Company. the Committee enterprise level)
currently consists of Mr. S. padmanabhan, Ms. padmini Khare Implementation of risk reduction strategies
Kaicker, Mr. r. Mukundan, Mr. Zarir langrana and Mr. John Mulhall Formulating and deploying risk Management policy
as Members. the rMC meets quarterly to review key risks and deploying practices for identification, assessment, monitoring,
assess the status of mitigation measures. the tCl approach to risk mitigation and reporting of risks
management is designed to provide reasonable assurance that providing updates to rMC from time to time on the enterprise
its assets are safeguarded; the risks facing the business are being risks and actions taken
assessed and mitigated.
4. RMG at Business Unit Level/Subsidiary Level
the risk management framework is described below:
reviewing respective Bu/Subsidiary risks from time to time,
initiating mitigation actions, identifying owners and reviewing
Board of Directors
progress
Identification and review of risk appetite and risk trigger (at Bu/
Risk Management Committee Subsidiary level)
of Board Implementation of risk reduction strategies
deploying risk Management policy
Risk Management Group at deploying practices for identification, assessment, monitoring,
Senior Leadership Level mitigation and reporting of risks
providing updates to rMg and rMC level from time to time on
the respective SBu risks and actions taken
RMG at Business Unit Level/
Subsidiary Level
5. Risk Owners
responsible for developing and acting on risk mitigation plan
Risk Owners providing periodic updates to rMC on risks with mitigation plan

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