Risk Management
Safety is Always Our Priority Business Values
In IOG, we value RQHSE. RQHSE stands for Risk, Quality, Health, Safety and Environment. Therefore, we have strict control procedures in terms of operations, finances, project execution, marine operations, and the physical and mental aspects of all our partners. We always comply with ISO9001 (Quality Management System) and ISO45001 (Occupational Safety and Health Management System). In conjunction with our internal audit unit, risk assessments and countermeasures discussion are regularly executed.
Risk
In order to achieve stable and sustainable business development, we always keep a risk management-oriented business model and formulate risk management policies and procedures in various fields. Our board of directors, functional committees and management personnel in various departments are responsible for risk monitoring. Through regular reports, we perform risk control duties.
Quality
IOG takes pride in providing high-quality marine engineering services. In order to maintain high-quality-standard services, we not only follow ISO9001 (Quality Management System), but also focus on internal trainings to promote our technical level and service quality. We are deeply convinced that high-quality and professional service delivering are the foundations of sustainable business with integrity.
Health
Healthy employees are one of important assets in one company. In order to ensure our partners with physical and mental health, we insist on complying with national and international labor laws and regulations, and also pay attention to the well-being and rights of partners. Whether you’re in the office or on-site, our HSE departments are always working hard to build healthy working environment and a happy workplace culture.
Saftey
We see safety as the most important part of our daily work. That’s not only for our partners in the office, but also for those on site. ISO45001 (Environmental Safety and Health Management System) is strictly complied, along with International Safety Management Code(ISM), we ensure the health and safety of all our partners and the safe operation of our assets.
Environment
IOG actively promotes the development of offshore wind farm in Taiwan and makes every effort to create sustainable clean energy. Therefore, we advocate green life and establish Taiwan International Windpower Training Corporation Ltd (TIWTC) to support the energy transition in Taiwan by providing offshore wind related courses. With an aim to drive the green energy industry development and give back to environmental sustainability.
Risk Management Organizational Structure
The risk management organizational structure of IOG includes covers the board of directors, the Audit Committee, the Risk Management Committee, company management, risk management units, legal and compliance units, information units, as well as all business units.
The board of directors holds ultimate responsibility for risk management regarding all operations. Its major duties include approval of the Company’s risk management policy and risk management systems, approval of annual risk limits, monitoring of indicator thresholds, and supervision of the implementation of the Company’s risk management systems.
The Audit Committee assists the board of directors in its risk management role. Its chief responsibilities include review of the Company’s risk management policies and risk management systems, review of annual risk limits, monitoring the threshold of indicators, overseeing the management of the Company’s existing or potential risks, and assisting the board of directors in supervising the implementation of risk management systems.
Company management monitors risks associated with all Company business operations, and ensures that the Company’s risk management system can completely and effectively control all relevant risks.
The Risk Management Committee assists the Audit Committee and the board of directors in executing their risk management duties. Its main objectives include review of annual risks limits, monitoring of indicator thresholds, review of risk management reports, assistance in supervising the implementation of risk management systems, integration and coordination of Company subsidiaries risk management issues, and communication of other important matters relating to risk management.
Directly responsible to the board of directors, the Risk Management Department is responsible for the drafting of the Company’s risk management system, establishing effective methods and risk management systems for measuring risks, monitoring and analyzing risks, as well as the timely reporting and early warning of significant risks.
The Legal Affairs Department executes control over legal risk, and assists in evaluating business and legal documents, contracts, and other matters that may involve legal risk.
The information departments shall implement information security risk control to help avoid information security risks that could jeopardize the normal operation of related information systems due to intentional external intrusion or internal misuse, leakage, tampering, or destruction of information assets.
Each business unit shall review each risk management specification in its entirety and comply with each risk management specification prior to the execution of each operation.
The board of directors holds ultimate responsibility for risk management regarding all operations. Its major duties include approval of the Company’s risk management policy and risk management systems, approval of annual risk limits, monitoring of indicator thresholds, and supervision of the implementation of the Company’s risk management systems.
The Audit Committee assists the board of directors in its risk management role. Its chief responsibilities include review of the Company’s risk management policies and risk management systems, review of annual risk limits, monitoring the threshold of indicators, overseeing the management of the Company’s existing or potential risks, and assisting the board of directors in supervising the implementation of risk management systems.
Company management monitors risks associated with all Company business operations, and ensures that the Company’s risk management system can completely and effectively control all relevant risks.
The Risk Management Committee assists the Audit Committee and the board of directors in executing their risk management duties. Its main objectives include review of annual risks limits, monitoring of indicator thresholds, review of risk management reports, assistance in supervising the implementation of risk management systems, integration and coordination of Company subsidiaries risk management issues, and communication of other important matters relating to risk management.
Directly responsible to the board of directors, the Risk Management Department is responsible for the drafting of the Company’s risk management system, establishing effective methods and risk management systems for measuring risks, monitoring and analyzing risks, as well as the timely reporting and early warning of significant risks.
The Legal Affairs Department executes control over legal risk, and assists in evaluating business and legal documents, contracts, and other matters that may involve legal risk.
The information departments shall implement information security risk control to help avoid information security risks that could jeopardize the normal operation of related information systems due to intentional external intrusion or internal misuse, leakage, tampering, or destruction of information assets.
Each business unit shall review each risk management specification in its entirety and comply with each risk management specification prior to the execution of each operation.
Strategic Perspective
．Government policies
．Changes in technology and industry
．Technology development and competition
．Demand and capacity expansion
Operational Perspective
．Information security
．Intellectual property rights
．Recruitment of qualified personnel
．Corporate image
Financial Perspective
．Strategic investments
．Interest rate, foreign exchange, inflation, deflation and taxation
．High-risk and/or highly leveraged investments; financial derivative transactions
Hazardous Events
．Fire or chemical spills
．Climate change
．Utility supply
