Board of directors: The board of directors (“the Board”) provides policy, oversight and review of the risk management policies and procedures of Logistable Limited (“Logistable”, “the Company”). The Logistable Risk Committee (“the Committee”) is authorised by the Board to manage all aspects of risk policy and strategy for the Company and supervise the on-going operation and monitoring of the Company’s risk environment within the established risk framework.
Chief Operating Officer (COO): The COO drives the culture of risk awareness within Logistable and sets the standard for its management within Logistable.
Head of Risk: The primary function of the head of risk is to continuously revise, adapt and develop the risk management policy, its implementation strategy and the framework that surrounds and supports it.
Department Heads: Department heads must ensure that their staff are aware of and comply with the risk management policy. They must also support and promote a culture of risk awareness that encompasses the identification and addressing of risks (as and when they arise) following the relevant procedures.
Staff and Third Parties: All staff and third parties must comply with the risk management policies and procedures set out by the Committee.
The members of the Committee shall be appointed by the Company COO and shall be comprised of;
The Chairperson shall be elected by Committee members and shall hold office for 12 months. In the absence of the standing Committee Chairperson, the rest of the members present shall elect one of their number to chair the meeting.
The Chairperson shall appoint the Committee Secretary and determine the period for which they shall hold office. In the absence of the standing Committee Secretary, the rest of the members present shall select an appropriate member of staff to take the role of Secretary for the meeting.
Each member will hold the power to vote on proposals and motions on a one seat one vote basis.
For proposals and motions to pass a simple majority will be required. When the outcome of a vote ends in a tie the Chairperson shall hold a casting vote.
Only members of the Committee have the right to attend Committee meetings.
The Company’s Chairman shall have a standing invitation to attend Committee meetings, but per regulatory and governance standards is not a member of the Committee.
Other persons, both internal and external, may be invited to attend, from time to time, by the Committee as guests.
The quorum necessary for the transaction of business shall be two members of the Committee.
A duly convened meeting of the Committee at which a quorum is present shall be competent to exercise all the powers vested in and exercisable by the Committee
The Committee shall meet at least once a quarter and at such other times as required and/or deemed necessary.
Meetings of the Committee shall be convened by the Secretary at the request of any of its members.
If considered necessary meetings can also be requested by members of the Board.
The Secretary shall minute the proceedings and decisions of all Committee meetings, including the names and function of those in attendance.
At the beginning of each meeting the members of the Committee shall declare the existence of any conflicts of interest arising and these shall be minuted accordingly. All conflicts will be handled as per Logistable’s conflicts of interest policy
The responsibilities of the Committee shall be to;
The Committee shall report formally to the Board on its proceedings via the dissemination of the minutes of each meeting.
The Board shall at least once a year review the activities, performance and terms of reference of the Committee to ensure that the Committee is operating effectively and instruct the Committee to make any changes it considers necessary.
The Committee is authorised by the Board to;
