Risk management is a fundamental part of robust corporate governance and good management practice. Doing it well doesn’t mean avoiding risks at any cost. At Bridgepoint it means making informed and coherent choices regarding the risks the group and its funds want to take in pursuit of their strategies and objectives, paying close regard to the methods used to manage and mitigate those risks. To that end, risk management is embedded within all areas of our business, at both a group and legal entity level, including in our culture, decision-making processes, practices, business planning and reporting activities.
The group manages a range of risks in connection with its business activities, and ultimate responsibility for oversight of the group’s risk management and internal control systems lies with the board. The board determines the nature and extent of the principal risks it is willing to take to achieve the group’s strategic objectives, and reviews management’s implementation of effective systems of risk identification, assessment and management.
Assisting the board in its risk management role is the Audit and Risk Committee, which monitors and reviews the group’s internal controls and risk management systems.
The group’s risk management framework is underpinned by a strong control culture with clear oversight responsibilities, and the group maintains comprehensive insurance cover with policies covering a number of insurable events. The team also carries out thematic compliance monitoring work.
During 2022, to support the monitoring and review of risks, it is expected that an internal audit programme will be adopted, supported by an outsourced internal auditor.
