Risk management

Risk management is fundamental to the Group’s conduct and includes executing action plans around and within Ophir activities in order to protect business interests from risks.

Ophir works in a challenging environment that has risks that are characteristic to its activities, operational sites and assets. Managing the risks associated with these challenges is explicit to addressing uncertainty to protect Ophir and create value.

The Board of Ophir has overall responsibility for maintaining sound risk management and internal control systems. Ophir’s risk process involves all levels of management and decision making, and works to ensure clear reporting to Committees and ultimately the Board.

The Executive Directors report risk to the Board on a monthly basis or more regularly as required; the Risk Register is presented to them twice annually.

The elementary summary of Ophir’s risk management process is:

The Ophir Risk Management Governance & Reporting Structure is as below: