Muscat: 11 January 2015

Under its new policy that classifies risk management as one of the important work pillars, OETC conducted a risk management workshop recently at Holiday Inn Hotel located in Mawalih. The workshop was part of a series of workshops organised by Business Planning and Risk Management Department of  OETC.

The goal of the workshop was to explain and educate the staff about relevant concepts and the best policies and practices involved in risk management, thereby reinforcing its application in all areas of the company's business. It emphasised the need to develop a risk management that proportionate to the risks levels and be part of the decision making process.  The framework will be develop and structure based on ISO 31000/2009 in order to implement common approach of risk management in all areas of the company's business. The workshop stressed on the important of staff training for effective implementation and use of risk management as well as providing the required human and financial resources to implement the risk policy.

It was highlighted that the Audit Committee is responsible for supervising the implementation and maintenance of the risk management framework. Further Business Planning and Risk Management Department will provides the required support for all other departments. It will also be responsible for ensuring compliance with risk policy and coordinating with stakeholders to ensure the company is committed to the group's risk management policy.

In this context, Engineer Ali al-Haddabi, OETC CEO said, "The Company is going ahead to develop framework for risk management and recently we introduce specialised department in Risk Management which aims at developing risk management for all the company activities".

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© Press Release 2015