Risk management is an integral element of our Ethics, Risk and Compliance program and as such it evolves organically to support our corporate strategy. As part of our journey towards integrated assurance, we connected the Enterprise Risk Management with the Novartis strategy, enabling risk management to be fully embedded in business operations and ensuring robust mitigations across the enterprise.
The enterprise risk management (ERM) process at Novartis is well-established. It consists of a series of coordinated activities designed to detect and mitigate risks and is evolving to identify longer term risks in the 5–10-year horizon. The method is rigorous and agile, accommodating changes in the external environment. It is based on risk discussions conducted by the leadership teams of the business units at the global level in alignment with their own strategic planning processes, and in close collaboration with all risk functions within the units and countries.
This process results in a single holistic view of short- and long-term risks across the company. This enables senior management and the Novartis Board of Directors to focus discussions on key strategic risks and more closely align the company strategy considering long term external forces, our risk exposure and our ways of working.
Learn more about Novartis Enterprise Risk Management (PDF 0.5 MB)