The Kindred Group has implemented a holistic risk management process to ensure that Group risks are managed in a proactive manner.
The Board via the Audit Committee has the overall responsibility for the risk management process and risk governance. The Executive Committee is responsible for identifying, assessing and managing the risks within the Group.
The Risk Management and Internal Audit teams perform reviews of the effectiveness of the risk mitigation controls and report the results to the Audit Committee on a quarterly basis.
The Kindred Group divides the principal risks into general risks and Groupspecific risks.
Odds/Trade related risks Fraud, anti-money laundering and legal risks are discussed in the Responsible gambling section of the Sustainability report pages 22 to 25, and in the General legal environment section on pages 43 and 44.
Risk management process
Risks are identified using the process as described in the diagram below. Identification and assessments are done across the Group via regular workshops with key stakeholders. The results are compiled into a risk report which is presented on a bi annual basis to the Audit Committee.
A risk owner is identified for all risks and has the responsibility to implement the mitigation strategy and to monitor the risk.