Risk Policy

[Policy reviewed and approved at board meeting 28.10.2023]

RE's operations are characterized by prudence in accordance with the obligations of a company owned by municipalities as public entities, cf. the Act on OR and other laws and regulations and criteria on obligations and good governance. The Risk Policy ‘s main goal is to ensure OR‘s capability to take care of its role in a safe and cost-effective manner with minimal risk. OR does this by:

• Reducing fluctuation in the company ‘s operations at any given time due to underlying risks in the operation and making sure exposures are kept within boundaries defined by the board and stated in the Risk manual.
• Ensuring that OR has enough resources to support growth of services and regular activity.
• Analyze, evaluate, and manage risks in operations with regards to RE's policies and defined boundary.

The board entrusts the CEO to follow the Risk Policy in OR‘s operation and informing about outside risks. OR´s risk manual and related documents describe an overall view and define types of risk, criteria for assessing them as well as methods and boundaries. Changes in boundaries require the approval of OR’s board of directors.

The Risk Policy is based on OR’s values and strategy and is presented in accordance with the company’s ownership strategy.