IGD SiiQ

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Risk management

The ERM model

 

IGD implemented a Enterprise Risk Management (ERM) model in order to detect and evaluate in a systematic and integrated way its risks.

In development its own model, IGD was particularly inspired by the framework COSO, promoted by the Committeee os Sponsoring Organizations of Treadway Commission.

The aim of the model is to support the top management in identifying the key business risks, to monitor the management arrangements, as well as to define organizational safeguards to protect and lessen the risks themselves.

By the indentification of a series of Key Risk Indicators, IGD's management can dynamically evaluate the level of exposure of the Company with respect to individual risk.

The ERM model adopted also allows for scenario projections to support the feedback regarding the overall Risk Appetite.

 

Types of risks

 

The main types of risks that IGD faces and manages in the performance of its activities are connected to the following four areas:

 

STRATEGIC RISKS

  • Risks associated with change in the macro and micro economic scenarios or consumer trends
  • Loss of asset value
  • Country risk

 

OPERATIONAL RISKS

  • Tenant related risk
  • Credit risk
  • Contract risk
  • Pre-letting risk
  • Risks associated with natural disasters (i.e. earthquakes, floods, fires) or damages caused by third parties and third party liability

 

COMPLIANCE RISKS

  • Liability pursuant to Legislative Decree 231/01
  • Regulatory risk associated with being a listed company (Consob, Borsa)
  • Liability pursuant to Law 262/05
  • Tax risk - requirements under the SIIQ regime

 

FINANCIAL RISKS

  • Risk associated with funding and cash management
  • Interest rate risk
  • Foreign exchange risk
 

 
 
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