What is the Enterprise Risk Management

Enterprise Risk Management (ERM) is the systematic approach to identifying, categorizing, quantifying and pro-actively dealing with all risks in an organization in order to protect and enhance value. By managing risks with a portfolio approach, the company can optimize its decisions across geographies and commodities.

Enterprise Risk Management provides aggregated performance and risk measures to

• realize value creation opportunities by optimizing the use of risk capital and
• provide confidence on complianceto risk policies and procedures.

PIC ERM Mission statement

"To support PIC strategy by managing risks effectively through a flexible methodology,
constantly reflecting changes in business needs and environment"