Risk Management
To reduce threats and increase opportunities on the set objectives, MSD commits systematic approach to Risk Management in its integrated daily processes and applications.
The Risk Management process is based on well-established Guidelines, ISO, and other internationally recognized standards that enable informed decision making and effective utilization of resources with the ultimate goal of meeting stakeholders’ expectations".
Risk Management at MSD aims to reduce threats and increase opportunities for the achievement of strategic objectives through risk anticipation, avoidance, assessment, and embracing necessary and desirable risks with appropriate safeguard mechanisms. In this regard, MSD commits a systematic approach to Risk Management in its integrated daily processes, systems, and applications with proportionate and effective measures such as control measures, avoidance, insurance, and others.
MSD's Risk Management process is based on well-established Guidelines, ISO, and other internationally recognized standards that enable informed decision-making and effective utilization of resources with the ultimate goal of meeting stakeholders’ expectations. Equally, the approach to Risk Management equip staff to take risk-based decisions with confidence and within acceptable risk appetite.
In our work to achieve our strategic objectives, five risks stand out; Strategic, Financial, Operational, ICT, and Compliance Risks. The categorization of risks intends to enhance MSD's ability in fulfilling customers’ expectations, experience and needs through engagement, resource mobilization/ cost minimization, compliances, and automation/ digitalization while safeguarding operational efficiency.