Risk and business continuity
We have a structured, consistent and continuous risk management process in place across our organisation. This Enterprise Risk Management system identifies and prioritises potential risks to the business including financial, environmental and societal risks. These risks are then assessed in terms of probability, severity and the status of mitigation plans. The risks identified are reviewed by a senior management Risk Steering Committee and the Board of Directors. The Board’s Audit Committee also reviews the risk management process independently.
The result is a strategic approach to risk. By focusing on those issues that can affect how well we achieve our long-term goals, we can balance risk and reward appropriately. Moreover, we can holistically strengthen and align the interests of management, employees and shareholders. By integrating this understanding into the company’s culture, we are able to transform risk management from a defensive function into a source of competitive advantage.
Our business continuity programme is aligned with our risk management process. The programme’s primary objective is to support ongoing contingency planning to evaluate the impact of events that may adversely affect clients, assets or employees. Pitney Bowes has established processes to support the continuity of our businesses during times of crisis. With a core staff and engagement by our business units, we are able to respond appropriately as events arise. We also train our employees, run simulation exercises and evaluate our programme each year for potential improvements.