Page 30 - CRISIL ESG Report 2023

Risk management
Oversight
1. Risk Management Committee of the Board
2. Internal Risk Management Committee
Risk assessment
Combination of bottom up and strategic view of key risks
Approach
Balanced approach to risk management by mitigating risks to an acceptable level
In today’s ever evolving risk landscape, the risk of cyber-attacks and data breaches remain high. The macroeconomic scenario and geopolitical tensions continue to evolve and pose challenges to businesses in 2024. At CRISIL, we assess risks both on qualitative and quantitative parameters. Basis risk assessment and prioritisation, mitigation plans are defined and monitored. The diagram below illustrates the Risk Management framework that we have in place at CRISIL.
Reporting
Key risk themes and mitigation plans presented to the internal and Board Committees
Key risk themes
Identified and assessed using a combination of qualitative and quantitative parameters
Risk monitoring
on a periodic basis
Risk management framework
Process
Risks are identified and assigned probability of occurrence and potential impact
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ESG Report 2023
Please refer to CRISIL’s report on Management & Discussion Analysis in the CRISIL Annual Report 2023 for a detailed discussion on key risks impacting CRISIL’s business
Corporate governance