The Board is responsible for overall group strategy, acquisition and investment policy, approval of major capital investment projects, and the structure of equity in the consideration of significant financing matters. The Board has continued to focus its efforts on strategic issues that create business value, monitoring performance against agreed objectives and planning of future business opportunities.
Discussions are reserved to the decision of the Corporation and shall be provided in writing including the appointment of the Company Secretary, who is responsible for ensuring that procedures and standards are applicable, as provided in the bylaws. Formal procedures will be available to all members of the corporation when required.
Formal procedures exist to ensure that orders are fulfilled in all its rules and to give approval as both operations effectively.
The Role of our Board and compliance.
The Chairman of the Board recognizes the importance of good governance and the role which plays in promoting a higher level of performance by focusing on international corporate meet all requirements and code of conduct necessary to prevent legal violations and ensure that the company operate according to the rules of transparency. The policies to the interests of the corporation and partners are the center of activities and are designed to enable the Board to be responsible for the management of the company as a priority on the safety of their investments, thus giving a full guarantee to end users and affiliates. The overall purpose of the Board is to represent the values and business objectives, ensuring that the strategic plans of the corporation are properly safeguarded and that the main business risks are actively monitored and managed. This point extends beyond compliance and increased emphasis on business management applications and new business relationships as a primary object of the Board.
Risk management process
V&V Rending has an established business management system that includes a comprehensive risk process for identifying, evaluating and risks faced by the group.
This system is based on the evaluation of each subsidiary and corporate decisions, producing a risk matrix that identifies key business risks, whether strategic, operational, financial, and the probability of their occurrence. It also examines their impact if they occur and the measures taken to manage the risks assumed according to the minimum required level. Risk-taking and reduction objectives are defined to minimize them to as low as reasonably achievable. These risk matrixes are analyzed regularly and made available to the Executive Committee for evaluation.
Effective risk management is essential to achieving the strategic objectives and the protection of corporate assets, staff and reputation. V & V Rending manages its risks by maintaining a balanced portfolio by fulfilling the terms of their agreements, the implementation of appropriate policies and procedures and through the recruitment and retention of skilled people in the entire organization.
V&V Rending has an effective management system and comprehensive HSES to mitigate this risk and support the safe execution of all specific actions.
V&V Rending has established financial policies and procedures to ensure that it can maintain an adequate level of liquidity and monetary capacity to manage the level of risk associated with economic instruments. A detailed set of financial and treasury policies are under the supervision of the department of financial security to protect against the risk of fraud. Major investment decisions are taken from a business perspective, strategic and given the current situation in the energy market to insure against the downside risk of such investments.