Archroma-Sustainability-Report-FY2018 - Page 41

Archroma initiated the risk management project with the objective first to have an overview of what are
the main risks and then we will go into the small areas or more specific areas like health & safety. Risk
management is a very broad topic and therefore requires to be prioritized to identify the areas that require
initial first.
Archroma has put in place an assessment report comparing where we are at the end of FY 2018 with
regards to our ambitions and to industry benchmark. This report will serve as the basis for Archroma’s
action plan to increase our preparedness, methodology and processes towards risk management.
In particular, Archroma is in the process of implementing a risk management platform where risk owners
occupational risk, health and safety, IT security, etc. will be clearly identified, where risks and management
of risks will be consolidated and centralized, and managed when it comes to actions set-up and follow-up,
providing a clear overview of risk management at Archroma.
The only risk specifically mentioned by the GRI criteria is very much focused on societal risk or climate
change, but we know from a commercial perspective there are many other risks, and Archroma has
identified about 45 areas of potential risks, for example environmental risk, credit risk, raw material
suppley etc., that we monitor and assess on a regular basis.
The need was for stronger focus identified and highlighted through the audit committee of the board of
directors of Archroma. Our approach to risk management was well perceived from our external stakeholders,
such as our external auditors, but the management team identified a potential for a more systematic
The work of her
colleagues across
the organization
is a constant
source of
inspiration to
Montserrat Bel,
a passionate
member of
Global Hazard
Montserrat Bel may have been with the company
for nine years, but she still finds inspiration all
around her at work. “What I find most inspiring
at Archroma is the knowledge of the experts,”
she says, many of whom she has to connect with
through her role in Global Hazard Communication.
Since 2018, she has been deputy to the Global
Head of Hazard Communication, Eleonore Braun –
having joined back in 2010 as an intern.
Montserrat is a product stewardship expert, but
her role frequently requires her to supplement her
own expertise in areas like chemical regulation
with the knowledge of colleagues from across the
organization. The changes at Archroma over the
last few years have made it easier to work across
departments, she believes.
The challenge of constantly engaging with new
ideas can be truly fascinating. “Sometimes, I get
lost in email chains just for the fun of seeing, for
instance, the chemical background of our products,
how a molecule is developed, how a lab process
is transformed into an industrial process…”
Montserrat is full of respect and admiration for the
work her colleagues do. “You would not believe
what our experts know and are capable of, and
I am lucky to witness it, even if only partially.”
Her commitment to hard work has enabled her
to blossom throughout her career at Archroma.
Montserrat isn’t just passionate about her work.
Outside the office, she unwinds by playing the
piano, whether for herself or to entertain her
children and husband. “Music is food for my soul
and mind,” she says.
Her family life, of course, feeds back into her work,
and is a key reason she appreciates Archroma’s
In FY2018 the team started to update the total risk profile, proceeded to its mapping and to draw the
company’s risk management action plan for deployment in FY2019. In order to better support its risk
management going forward, the company also decided to implement a tool where it is possible to map
and rate risk in terms of likelihood and impact. This will allow to consolidate the results, and to set the
action plan and the overall company audit plan considering the risk element.
The data will be gathered on a standalone platform and will be transferred in the Risk Team tool, a
professional software for risk management.
Audits are also used as a source of risk identification, one that allows to avoid unidentified risks to fall
down the cracks of what the team may have missed in our periodical reviews.
The company is careful to raise awareness about risk management across the organization. The most
effective factor in doing so is the annual frequency of the risk assessment, and action planning and
execution. The effectiveness of the approach is demonstrated by the fact that our insurance and financial
partners are taking Archroma's risk-mitigating efforts in account when calculating our insurance premium
“Archroma is taking the matter of risk management at heart as a way to make its business
sustainable,” says Jaime Jimenez at Aeon. “They do that on a purely voluntary basis without
any regulatory requirement to do so. This is truly superlative compared to the standards we see
amongst peers in the industry!”

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