Winner: Ayala Corporation
Comprised of just one director and one risk officer, Ayala Corporation’s group risk management and sustainability unit (GRMSU) is under the corporate finance group, headed by the CFO, who also serves as the CRO and chief sustainability officer.
The team manages the ERM program and provides assistance in the oversight of the risk management programs of Ayala Corporation’s business units.
IT TAKES TWO
The GRMSU completed phase 1 of its ERM roadmap in 2015. Major accomplishments during this period included the adoption of ISO 31000, Black Swan methodology and the Risk Maturity Index workshop.
Without the ERM program firmly in place at the parent company, the team would not be able to effectively practice the discipline, strengthen Ayala Corporation’s corporate governance, and explore how risk measures can further translate into protecting
and creating value for all stakeholders. As such, the team stepped up its efforts in 2016–17 for phase 2 to yet more e effectively implement the ERM framework of Ayala Corporation at a wider scale across the group.
Despite being only two people, the risk management team makes the most out of its network and resources. This was proven by the larger number of activities that the team accomplished and finished in 2016, including study of risk tolerance level and group-wide insurance optimisation, building a common risk language for the group, establishing business continuity management system, developing regulatory risk framework, organising an ERM summit and risk awards, and more.
Momentum continued in 2017 as they embarked on challenging projects such as the introduction of risk-sensing methodology, execution of groupwide insurance optimisation program, and risk appetite development workshops.
WHAT THE JUDGES SAID
”Detailed and thorough… Great vision and roadmap for success.”
This award was sponsored by Allied World.