Supporting this ambition is Ma’aden’s Governance, Risk, and Compliance (GRC) Department. Under the direction of the Board and its key committees, this department is responsible for:
Governance
Governance is a framework by which a company is directed, to achieve its overall objectives. It is concerned with relationships, structures, processes, information flows, controls, decision-making, and accountability to the highest level in a company.
Risk
Risk management involves knowing the location of critical data, operations, and processes, as well as an understanding of the business's capability to bear critical risks; quality assurance, benchmarking and other continuous improvement tools are used as part of the monitoring process during normal operations.
Compliance
Compliance assists senior management in identifying, evaluating, controlling, and monitoring the compliance risks affecting the company on an ongoing basis. The Compliance Function of the GRC department recommends appropriate controls and remedial actions.
Detailed information about our Governance processes and structures is available in a separate Board of Director's report.
