Common use of The Role of the Risk Steering Committee Clause in Contracts

The Role of the Risk Steering Committee. The Risk Management Officer (RMO) is responsible, on behalf of the Board, for ensuring that Mintek has an effective and operational system for managing risks. All types of high-level risk will be covered. The effectiveness of the system will be reviewed on a regular basis. The RMO will constitute a Risk Steering Committee with the following members:  Chairperson (RMO)  Chief Executive Officer  General Manager: Finance  General Manager: Technology  General Manager: Research & Development  General Manager: Corporate Services  Manager: Finance  Manager: Human Resources  Manager: Engineering Management Services  Head: Information and Communications Technology  Head: Security  Head: SHEQ The Committee may, at their discretion, co-opt other participants with specialised knowledge or skills to attend any meeting. The key activities of the Risk Steering Committee will be to:  identify the key strategic risks that would prevent achievement of Mintek’s objectives;  assign ownership of specific identifiable risks;  evaluate the significance of each risk;  assess Mintek’s risk appetite;  identify suitable responses and mitigating actions to each risk;  ensure that the internal control system helps manage the risks; and  regularly review the Risk Management Policy and the Risk Implementation Plan. Copies of the Minutes of each meeting of the Risk Steering Committee, together with the latest version of the Risk Management Policy and the Risk Implementation Plan, will be submitted to the Audit and Risk Committee for discussion. Any comments received will be incorporated into the documents and submitted to the Mintek Board for approval. Running in tandem with the Risk Steering Committee is Mintek’s corporate quality, environmental, and safety management programmes. Mintek has been certified compliant with ISO 9001: 2000, ISO 14001: 2004, and OHSAS 18001: 2007. The identification of technical risks, the implementation of appropriate risk mitigation measures, and continuous improvement is an integral part of these management programmes. Mintek is audited annually by external auditors, SGS South Africa (Pty) Ltd, who check for consistency, compliance, and conformity with the international standards. A meeting of the Corporate Safety Committee is held four times per year, whereas the Corporate Quality and Corporate Environmental committees meet twice per year. The Chairman of these committees, (viz. the General Manager: Technology) is also a permanent member of the Risk Steering Committee, thereby ensuring effective communication between these bodies.

The Role of the Risk Steering Committee. The Risk Management Officer (RMO) is responsible, on behalf of the Board, for ensuring that Mintek has an effective and operational system for managing risks. All types of high-level risk will be covered. The effectiveness of the system will be reviewed on a regular basis. The RMO will constitute a Risk Steering Committee with the following members:  Chairperson Chairman (RMO)  Chief Executive Officer  General Manager: Finance  General Manager: Technology  General Manager: Research & Development  General Manager: Corporate Services  Manager: Finance  Manager: Human Resources Division  Manager: Engineering Estate Management Services  Head: Information and Communications Technology  Head: Security  Head: SHEQ Safety & Environment The Committee may, at their discretion, co-opt other participants with specialised knowledge or skills to attend any meeting. The key activities of the Risk Steering Committee will be to:  identify the key strategic risks that would prevent achievement of Mintek’s Mintek‟s objectives;  assign ownership of specific identifiable risks;  evaluate the significance of each risk;  assess Mintek’s Mintek‟s risk appetite;  identify suitable responses and mitigating actions to each risk;  ensure that the internal control system helps manage the risks; and  regularly review the Risk Management Policy and the Risk Implementation Plan. Copies of the Minutes of each meeting of the Risk Steering Committee, together with the latest version of the Risk Management Policy and the Risk Implementation Plan, will be submitted to the Audit and Risk Committee for discussion. Any comments received will be incorporated into the documents and submitted to the Mintek Board for approval. Running in tandem with the Risk Steering Committee is Mintek’s Mintek‟s corporate quality, environmental, and safety management programmesprograms. Mintek has been certified compliant with ISO 9001: 2000, ISO 14001: 2004, and OHSAS 18001: 2007. The identification of technical risks, the implementation of appropriate risk mitigation measures, and continuous improvement is an integral part of these management programmesprograms. Mintek is audited annually by external auditors, SGS South Africa (Pty) Ltd, who check for consistency, compliance, and conformity with the international standards. A meeting of the Corporate Safety Committee is held four times per year, whereas the Corporate Quality and Corporate Environmental committees meet twice per year. The Chairman of these committees, (viz. the General Manager: Technology) is also a permanent member of the Risk Steering Committee, thereby ensuring effective communication between these bodies.

The Role of the Risk Steering Committee. The Risk Management Officer (RMO) is responsible, on behalf of the Board, for ensuring that Mintek has an effective and operational system for managing risks. All types of high-level risk will be covered. The effectiveness of the system will be reviewed on a regular basis. The RMO will constitute a Risk Steering Committee with the following members:  Chairperson Chairman (RMO)  Chief Executive Officer  General Manager: Finance  General Manager: Technology  General Manager: Research & Development  General Manager: Corporate Services  Manager: Finance  Manager: Human Resources Division  Manager: Engineering Estate Management Services  Head: Information and Communications Technology  Head: Security  Head: SHEQ Safety & Environment The Committee may, at their discretion, co-opt other participants with specialised knowledge or skills to attend any meeting. The key activities of the Risk Steering Committee will be to:  identify the key strategic risks that would prevent achievement of Mintek’s objectives;  assign ownership of specific identifiable risks;  evaluate the significance of each risk;  assess Mintek’s risk appetite;  identify suitable responses and mitigating actions to each risk;  ensure that the internal control system helps manage the risks; and  regularly review the Risk Management Policy and the Risk Implementation Plan. Copies of the Minutes of each meeting of the Risk Steering Committee, together with the latest version of the Risk Management Policy and the Risk Implementation Plan, will be submitted to the Audit and Risk Committee for discussion. Any comments received will be incorporated into the documents and submitted to the Mintek Board for approval. Running in tandem with the Risk Steering Committee is Mintek’s corporate quality, environmental, and safety management programmesprograms. Mintek has been certified compliant with ISO 9001: 2000, ISO 14001: 2004, and OHSAS 18001: 2007. The identification of technical risks, the implementation of appropriate risk mitigation measures, and continuous improvement is an integral part of these management programmesprograms. Mintek is audited annually by external auditors, SGS South Africa (Pty) Ltd, who check for consistency, compliance, and conformity with the international standards. A meeting of the Corporate Safety Committee is held four times per year, whereas the Corporate Quality and Corporate Environmental committees meet twice per year. The Chairman of these committees, (viz. the General Manager: Technology) is also a permanent member of the Risk Steering Committee, thereby ensuring effective communication between these bodies.