Page 109 - Thailand Post Annual Report 2024

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Part 1
Overview of the Organization
Part 2
Business Trends
Part 3
Business Model
Part 4
Strategies and Resource Allocation
Part 5
Risk
Part 6
Corporate Governance
Part 7
Operating Results
Part 8
Other Information
Structure, Roles, and Responsibilities
in Risk Management
Thailand Post has established the structure for supervising risk management to ensure that risk management is in line with good corporate governance principles and in compliance with relevant laws and regulations. All departments have a role to play in the identification, evaluation and monitoring of risk management results within their assigned responsibilities and there are committees to oversee the implementation of risk management. In this regard, Thailand Post’s Board of Directors is responsible for assigning policies, supervising and providing advice on risk management; Thailand Post’s Audit Committee is tasked with reviewing the effectiveness and efficiency of risk management processes; Corporate Governance, Risk Management and Sustainability Development Subcommittee is responsible for approving the risk management plan, identifying and assessing organizational risks, and monitoring the risk management performance; and Risk Management and Internal Control Working Group is responsible for presenting policies and guidelines and developing the risk management system to align with international standards and performance evaluation criteria for state enterprises.
Risk Culture
THP focuses on creating the risk management atmosphere and culture for personnel at all levels to encourage the expression of desired risk management behaviors, such as disseminating risk management policies and manuals in order to have a uniform understanding of risk management process or procedure; organizing training courses on risk management to create knowledge and understanding in identifying, evaluating and monitoring results of risk management through workshops; organizing activities through online communication and public relations to raise awareness; and participation of top executives in risk management to create cooperation and to motivate personnel to be aware of the importance of risks until it becomes a risk management culture throughout the organization. In addition, an annual survey on awareness, recognition and level of desired behavior in risk management of personnel is conducted to obtain information for improving risk management efficiency.
Risk Factors to Business Operations
THP has analyzed risks that may affect its operations, considering both internal and external factors, key organizational goals and strategies, stakeholder needs and expectations, as well as potential future risks. These include :
High
1 Competition and Market Competitors Risk
2 Investment Risk
3 Risk Related to Personnel Preparation for Future
Business Operations
4 Risk Related to Corporate Image and Reputation
5 Service Quality Risk
6 Cyber Threat Risk
7 Occupational Health and Safety Risk
8 Environmental, Social and Governance Risk (ESG)
9 Business Interruption Risk
10 Liquidity in business operations Risk
11 Compliance Risk
12 Risks from technology that creates significant change
Low Likelihood High
Annual Report 2024 107
Impact