The effects of operational risks have their general causes in external and internal drivers. For example the operational risks may realize as a result of inadequate or failed processes or systems, from personnel or from external events (for further details, see Appendix 2, Risk Definitions - Operational Risks). Group companies have their own specific risk sources which are causes of events that may have negative impacts on different processes, personnel or fixed assets.
In Sampo Group, the parent company sets the following goals of operational risk management for its subsidiaries:
- To simultaneously ensure the efficiency and the quality of operations
- To ensure that operations are compliant with laws and regulations
- To ensure the continuity of business operations in exceptional circumstances.
Each company is responsible for arranging its operational risk management in line with the above mentioned goals, while also taking into account the specific features of its business activities.