Risk Management
Heimstaden Bostad’s risk management objective is to maximise returns at acceptable risk levels without compromising the Company’s vision, values, or Code of Conduct.
Heimstaden Bostad is exposed to a range of risks and opportunities that may affect the business, thus it is important to have a risk management programme to optimise the risk/return balance.
Heimstaden Bostad gives high priority to risk management, and it is treated as a continuous process. We continuously evaluate and develop our risk management function and framework to ensure that we execute a value-add activity. This includes embedding risk management, designating risk ownership, and implementing risk responses throughout the organisation. The Audit & GRC Committee (A&GRC), established by the Board, oversees the framework and process. The risk management process and framework in Heimstaden Bostad are based upon best practice and the international acknowledged standards of ISO and COSO.
The GRC function aggregates risks at three different levels: at countries of operation, at Group functional line, and across the whole Heimstaden Bostad portfolio (Group). The identified risks, opportunities and risk responses for the Heimstaden Bostad portfolio overall are discussed in the Executive GRC & Internal Control Committee with Executive Management, before it is presented to the A&GRC Committee/Board, at a minimum, biannually.
Regular country GRC forums are held to facilitate the sharing of risk information across countries.