Risk management philosophy

The risk and assurance steps involved in completing the risk management process are as follows:

Northam’s risk management philosophy is underpinned by:

• The group’s ability to identify risks which may hamper its performance
• The group’s ability to tolerate and accept a certain amount of risk in order to achieve its strategic goals
• The development of a risk register and the attachment of weightings and significance to the identified risks
• Constant evaluation and re-rating of identified risks
• Mitigation of identified risks