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Risk Management Areas and Operation Mechanism

Enterprise Risk Management Areas 

The Enterprise Risk Management Committee consolidates risks in the areas of strategy, operation, finance and hazard.

 

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Enterprise Risk Management Operation Mechanism

For above areas, evaluates the possibility and severity of their occurrence, defines the priority order and risk level of the risk items, and determines response actions. The committee periodically reviews possibility and severity of risks for changes over time to grasp the effectiveness of risk management plans and related control operations.

 

 

 

 

Key Risks Identification and Countermeasures

UMC targets strategic, operational, financial and hazard risk areas, identifies key risks and formulates countermeasures, including environment, social, corporate governance and emerging global risks related to the company's operations. For detailed response measures, please refer to "CSR Report 2-4 Risk and Crisis Management".

 

Operating situation:

The company has actively promoted and implemented the risk management mechanism since 2018, and began reporting its operations to the Nominating Committee and the Board of Directors at least once a year in 2020.

  • The Enterprise Risk Management Committee submitted the company’s risk management policies, mechanisms, procedures, scope, and organizational structure to the Nominating Committee and the Board of Directors, and received approval in February 2020. It also reported the company’s major risks in 4 areas : strategies, operations, finances, and hazard, countermeasures and risk management results, including considerations of environmental, social, corporate governance risks and emerging global risks related to the company's operations.
  • The Enterprise Risk Management Committee formulated the "Enterprise Risk Management Manual" standard in 2020 for all employees to follow; it also organized risk education and training for core members of risk management to enhance the risk awareness of the company's employees and strengthen the establishment of a risk culture.

 

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