Risk
Management

At Airtel, the Board and leadership team have worked tirelessly to mitigate possible risks that bring along potential disruption in smooth business operations. This explains our creation of steady risk management that caters to strategic, legal, financial, operational and climate risks. We have a reliable practice to identify crucial risks across the group and map out germane action plans for mitigation.

the Risk Management Framework is evaluated frequently by the Company’s Risk Management Committee. An annual evaluation is also done by the Board of Directors. These apex reviews include: discussions on the management submissions on risks, Identifying crucial risks and approving relevant action plans to mitigate such risks on priority. The responsibility of assisting the Risk Management Committee on independent basis lies with the Internal Audit function armed with full status of risk assessments and management. Acquiring frequent updates on certain identified risks, depending upon the nature, quantum and the likely impact on the business is also the Risk Management Committee's job.

respective CEOs for the Management Boards (AMB and Africa Exco) are

responsible for managing risks across their respective businesses, viz., India & South Asia, and Africa. The strategic risk registers capture the risks identified by the operating teams (Circles or Operating Companies) as well as the functional leadership teams at the national level. The AMB / Africa Exco ensure that the environment – both external and internal – is scanned for all possible risks. Internal Audit reports are also considered for the identification of key risks.

the Executive Committees (EC) of Circles in India international operations are entrusted with responsibilities of managing the risks at the ground level. Every EC has local representation from all functions, including many centrally driven functions like Finance, SCM, Legal & Regulatory besides customer facing functions, such as Customer Service, Sales & Distribution and Networks. It is the responsibility of the Circle CEO or Country MD to pull together various functions and partners to manage the risks. They are also responsible for identification of risks, and escalating it to the Centre for agreeing mitigation plans. Operating level risk assessments have been concluded at Function / OpCo risk assessment and mitigation plans agreed and kicked off.