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Enterprise Risk Management

Enterprise Risk Management

Enterprise Risk Management

Our Enterprise Risk Management (ERM) program helps protect our long-term value for shareholders, customers, and the communities we serve.

Good governance practices are the cornerstone of our ERM program. Following them enables our ERM Team to manage relevant and material strategic and operational risks. The ERM Team works closely with senior management to:

  • Identify emerging topics and trends.
  • Align risk exposure with our organizational priorities.
  • Support business decisions and resource allocation.
  • Quantitatively monitor and assess known risks.

The ERM Team also creates and facilitates a risk management framework that includes risk: 1) identification, 2) assessment, 3) mitigation, 4) monitoring, and 5) reporting processes. This framework improves our ability to navigate an increasingly dynamic business and regulatory landscape as we continue to help create a more sustainable, clean energy future for our customers and the communities we serve.

The Audit Committee of the Board oversees the risk management framework and meets with the Director of ERM Risk Management at least annually to provide strategic direction for ERM’s program initiatives. The Director of ERM Risk Management reports to the Chief Financial Officer and works with operations, shared services, and other corporate functions to manage our risk profile.

Our Board of Directors and its committees oversee our risks including:

  • Public and employee safety.
  • System reliability.
  • Regulatory matters affecting our service territory.
  • Cybersecurity and physical security.
  • Storm response.
  • Business model viability.

Our risks are assessed quarterly and monitored utilizing key risk indicators. Our risk portfolios examine all our risks to identify and implement specific projects, programs, or initiatives to mitigate them.

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