qantas group risk management policy

The objective of this Risk Management Policy (RMP) is to ensure that we are managing risk to the best of our ability to enable the successful achievement of the Bank's objectives. 3. He has a broad range of commercial, operational and people leadership skills. Qantas Data Book 2017. Qantas was one of the first airlines to introduce an integrated Safety Management System in the 1990s, and we continue to evolve it. Qantas takes a proactive approach to managing risks in our supply chain. The Qantas Sale Act requires the Constitution to contain specific provisions designed to reflect Qantas' position as Australias national carrier. Over the years we have learned - and witnessed - the importance of . We support that growth through tourism marketing partnerships with the Australian and state governments, and our own extensive marketing and media strategy. Using this risk-based approach, we may also deliver training to contractors, agents or persons who may act on our behalf. 4.2 Risk management process The risk management system is dynamic and is designed to adapt to GTN's developments and any changes in the risk profile over time. Volatility is part of the Qantas Group's everyday operating environment, whether it's in the prices we pay for fuel, business and consumer confidence levels, weather patterns across our global network, or broader geopolitical events. Prior to joining Qantas, Tino was the CFO of National Express Group Australia (the Australian operations of National Express Group plc), a public transport provider. Qantas told ABC's Four Cornerthat it "shows a safety management system that is working and designed to capture human error through multiple fail-safes". The Group Policies apply to Qantas Group entities and employees in line with the Group's Corporate Governance . We aim to foster a workplace where people respect and tolerate the rights and differences of others. Andrew moved to Australia in 2005 from New Zealand where hed spent thirteen years with Air New Zealand in various executive roles. In FY22, we updated this analysis to reference updated climate data, developments in the business, progress in technology and fuel availability as well as regulatory changes. The risk management system is based on a structured and systemic process which takes into Qantas Airways Limited ABN 16 009 661 901, Safety, Health, Environment and Security Committee Charter (PDF), Qantas Group Business Practices Document (PDF), Learn more about our Supply Chain Assurance Program (PDF), UN Guiding Principles on Business and Human Rights (UNGPs), International Air Transport Associations June 2018 Annual General Meeting Resolution. New airlines entry in the industry and competition in the domestic market, Other Tools and Techniques Tool Identification Techniques. View the highlights from the latest and previous Full Year Results announcements. Tino commenced his career in professional firms, including Ernst & Young, where he held Tax Accounting and Audit positions in Australia and the UK. Under his leadership Qantas has implemented its biggest transformation since privatisation in 1995, renewed its fleet and technology, lifted customer satisfaction to record levels and expanded with new ventures and partnerships. Mr Finch holds a Bachelor of Commerce, Bachelor of Laws from UNSW, a Master of Laws with First Class Honours from the University of Sydney, and a Master of Business Administration (Exec) from the AGSM. Tino has significant experience in the Transport industry in both Commercial and Financial roles having worked for a number of Airlines. However, the veteran pilot who held voluntary positions with the pilots' association for a couple of years is dismayed by Qantas's approach to industrial relations. The GMC is chaired by the CEO and meets fortnightly to review Insiders have told us how this strategy has backfired spectacularly. Mr Finch has more than 25 years legal experience in Australia and overseas, joining the Qantas Group from the leading Australian practice of Allens, where he . Where we identify an adverse impact that we may have caused, contributed to or be directly linked, we adopt a consultative and measured approach to identify appropriate response options and take action consistent with the guidance provided under the UNGPs. BLUE STAR'S RISK MANAGEMENT FRAMEWORK The Company has adopted the Committee of Sponsoring Organizations of the Treadway Commission The Qantas Groups approach to doing this rests on three pillars: Looking Ahead, Delivering Today, and Acting Responsibly. In demonstration of our commitment to evolving our approach to human rights, we have collaborated with customers, suppliers, investors and civil society representatives to better understand their perspectives on the role of the aviation industry in respecting human rights, and to share our insights. We also report our findings in the Qantas Group Annual Review. Jetstar-branded carriers operate more than 5,000 flights a week to more than 85 destinations. The announcement can be viewed hereOpens in new window. How to make a disclosure under the Whistleblower Policy. xkS;3[f! Today we apply the same systematic approach to all risk disciplines, not just aviation safety. It's been prepared to take really destructive decisions in pursuit of the bottom line.". The Audit Committee, at least annually, reviews Qantas Managements establishment and operation of an enterprise-wide risk management system. As a result, we have emerged from the pandemic a stronger and more resilient company. From 2017/18, we will shift our reporting to open source disclosures, leveraging our We have seen airlines like Virgin like Rex come into the market and start up from scratch and the national carrier to survive has to have adapted to it. The two TMCs officially came together on 1 January, 2023, after the larger Gattinoni Group (which also . Opens in a new window March 17, 2020 . Rob Marcolina joined Qantas in October 2012 as Executive Manager Strategy and has expanded his role over the past few years to now having responsibility for driving the overall strategy of the Qantas Group, leading the group wide transformation program and day-to-day responsibility for Qantas IT systems, and their ongoing efficiency and effectiveness. At the heart of our everyday activities are a set of business principles and commitments that ensure fair dealing and protect stakeholder interests. Qantas makes no apologies. Compliance measures are used as a tool to address identified risks. The same tactics were used with short-haul pilots in the modernisation of the domestic fleet. and Audit Committee, review Qantas Management's establishment and operation (within the risk appetite set by the Board) of an enterprise-wide operational risk management system which is designed to identify, assess, monitor and manage operational risk throughout the Qantas Group in relation to safety, health, environment, security and "So, what should have gone in the front, went in the back. We acknowledge Aboriginal and Torres Strait Islander peoples as the First Australians and Traditional Custodians of the lands where we live, learn, and work. The Board Charter is reviewed annually by the Board, with the last review conducted and amendments approved on 24 August 2022. "We're seeing them occur across multiple weeks, and ultimately that's where things start to increase in operational complexity. FY22 continued to present significant challenges for the Group as we navigated our recovery from the widespread impact of the global pandemic. 148 0 obj <> endobj 172 0 obj <>/Filter/FlateDecode/ID[]/Index[148 45]/Info 147 0 R/Length 108/Prev 929664/Root 149 0 R/Size 193/Type/XRef/W[1 2 1]>>stream Prior to March 2010, Mr Evans roles with Qantas covered many areas including a number of senior financial roles within the Group, commercial and business analytics and the implementation of major business change initiatives; scheduling of the international and domestic network, ticket pricing, revenue management and airline operations on the day; as well as readiness activities for the arrival of the Airbus A380. He was also a key architect in the Qantas Emirates alliance that launched in 2013. |w`ltDs:a^#8RW~s>br|7b}qa.}70}z? ;|k@@]Cv"}{ nvpw$/:`BZyY/UD0|pu!Hwm8m ZcAD19G&`BsGW'T'g0C-)> Ou3 ze1-?d*MM1xy{kxdzM]y=p5o=Mf[3*>v#AM The change will be effective following the AGM on 26 October. To find out more about our hedging policy and treasury risk management, see our We support an ethical supply chain through our due diligence program, which assesses potential third-party suppliers, including those who act on our behalf, to identify those presenting an elevated risk of bribery. "For workers, agreement termination is a threat that their remuneration, their working conditions fall off a cliff,"Professor McCrystal said. The Qantas Group has paid all taxes that it owes and all tax compliance obligations are up to date. This may lead to the closure of some of its international business segments. Olivia Wirth was appointed as Chief Executive Officer of Qantas Loyalty in February 2018. Nominations Committee: Richard Goyder (Chair), Jacqueline Hey, Belinda Hutchinson and Antony Tyler. He started this role in March 2015. Security Policy. In doing so, we can ensure that our business is resilient in the transition towards a low carbon economy. Risk management is an integral part of all organisational process. "For pilots, job security is everything," he said. Our Qantas Group Beliefs are our shared commitment to deliver our business goals and to create a great place to work. Can the dogs of Chernobyl teach us new tricks when it comes to our own survival? The respect of human rights is key to our business practices, and we proactively undertake ongoing human rights due diligence in our operations and across our supply chains. He commenced with Qantas as Chief Operating Officer in July 2014 and on 1 March 2015 was appointed Chief Executive Officer of Qantas Domestic. The Qantas Group is committed to ensuring the protection of all Disclosing Persons, information regarding the investigation process and the protections available to Disclosing Persons is available in the Policy. The Groups Business Integrity & Compliance function, reporting to the General Counsel and Group Executive, Office of the CEO, ensures that the Group is best positioned to respond to both the rapidly evolving regulatory environment and shifting societal expectations regarding corporate ethics. Opens in new window. Since then, the Group has been working to implement these across the core elements of climate-related disclosures. The Qantas Group encourages Disclosing Persons who have reasonable grounds to suspect a Disclosable Matter to make a disclosure via the following channels, by: Further information about how to make a disclosure, and additional Eligible Recipients is available in the Policy. Opens in a new window Every employee and contractor is aware of risks to the business and their responsibility to manage those risks, and we encourage employees to highlight actual or potential concerns. Opens in a new window Further detail on our supply chain assurance program can be found in our Modern Slavery Statement. The Board adopted its Board Charter (PDF) on 1 September 2003. "It was a metaphorical gun to the head," Tony Lucas said. It can come with a hidden cost to morale. We're committed to reducing our emissions in line with the Paris Climate Agreement to limit warming to well below 2C above pre-industrial levels, and pursuing efforts to limit the temperature increase to 1.5C above pre-industrial levels. This policy establishes the framework for a formal risk management program by designating responsibility for risk identification and analysis, planning for risk mitigation, and outlining program management and oversight. "One incident I'm aware of, the ground handlers, they loaded the aircraft incorrectly," one employee said. Gareth Evans was appointed CEO Jetstar Group in November 2017. The Group's executive management team is the Group Management Committee (GMC). Opens in a new window due to superior cost and risk management 46 new domestic routes announced including 31 launched in FY21. Alan Joyce has been Chief Executive Officer and Managing Director of Qantas since November 2008. Finally, the global financial and economic crisis affects all companies undertaking the international business(Robertson, 2016). Unless they accepted Qantas's terms, it warned: "We will be left with no viable alternative but to have [the] flying performed by a new employment entity that can provide the cost base we need.". In FY22 we engaged external expert advisors to conduct a refresh of the Groups previous saliency assessment. A mistake will be made, there will be an incident, and I believe that Qantas management are underestimating the impact of their behaviour. He was Chairman of the International Air Transport Association between July 2012 and June 2013. Upgrade your web browser for an enhanced experience. With a focus on continuous improvement, the Group is seeking to build on our established compliance program by investing in technological platforms that will support our management of business risks and meet the growing expectations of regulators worldwide. "So, all four of those working together,side by side, pushing carts, handing out meals on one plane.". They include the Qantas Constitution, Board committees, the Qantas Group Business Practices document, and a range of other policies. Tinos current portfolio includes Group Finance, Group Procurement, Treasury, Investor Relations and Mergers and Acquisitions. The Qantas brand is synonymous with Australia. Bags are being loaded onto aircraft incorrectly. hereOpens in new window Weve been serving communities for more than 100 years. We are committed to managing the risks that come with a volatile environment by strengthening business resilience and building an agile, adaptive culture - giving us the foundations for sustainable performance in all market conditions. An important element of this is to ensure we continue to refine the findings of our climate scenario analysis and incorporate them into strategy and planning decisions. We know that how a business conducts its activities and operations can affect the human rights of other people, whether they are employees, customers, workers in our supply chain, or the broader community. <> . Group Management Committee. To "I don't work for a tea and coffee company. Opens in new window Both Qantas and Jetstar have introduced engagement and culture-focused training programs, covering 21,000 employees. Our anti-bribery and corruption risk assessment program is being progressively launched across our business. The role of CEO of Qantas Domestic and [] Read more Opens in a new window As governments are key decision makers of issues that directly impact our business, we invest in building effective and collaborative relationships in order to achieve optimal business outcomes for the Group. If you don't comply with what we want, we'll find someone else that will.". Joining Qantas in 1994 she has held a variety of senior commercial, customer and finance roles across the Group, both onshore and overseas. The findings showed Qantas had similar instances to the national workplace averages but we want the Qantas Group to be significantly better than this. The Group reported a $1.43 billion Underlying Profit Before Tax and Statutory Profit After Tax was $1.0 billion. strong corporate governance transparency in reporting. "It takes a long time to become a pilot. Vanessa has a Bachelor of Business and was admitted as a Member of the Institute of Chartered Accountants in 1994. Opens in new window, To read our CDP Climate Change disclosures, please visit the making it easier for people to formally report workplace bullying and harassment; improving the inclusiveness of organisational culture; and. We recognise that corruption has a negative social, economic, political and anti-competitive impact wherever it occurs. Qantas provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age . This was on display when Qantas negotiated a new enterprise agreement with its long-haul pilots for Airbus 350 planes capable of ultra-long-range flights, direct from Australia to New York or London. Book and Service View policies and guidelines Fares and Ticketing View policies and guidelines Changes, Reissues and Refunds View policies and guidelines Ticket Taxes, Fees and Charges View policies and guidelines Specific Needs View policies and guidelines We're in the process of finalising plans for a new program that will see Qantas support and engage employees in contributing to charitable causes that reflect our community strategy. _W+ stream . Qantas is committed to respecting all internationally recognised human rights, as well as complying with national and certain international laws, we voluntarily commit to uphold the standards of theUN Guiding Principles on Business and Human Rights (UNGPs)Opens external site in a new window. Qantas Airways Limited ABN 16 009 661 901. Lesley is a Director of the Australian Brandenburg Orchestra since October 2015, a Director of Venues NSW since May 2017, a member of Chief Executive Women and was previously a Director of Taylor Fry Pty Ltd from 2015 to 2017, a Director of the Qantas Foundation from 2009 to 2017, and a non-executive director of UNICEF Australia from 2006 to 2015. "Unfortunately, that has been usedas a threat to the pilots. We test the strength of our culture through annual employee surveys and analysis of retention and turnover, using the insights to find out what's important to our employees and how we can improve in future. Prior to joining Qantas he was Executive Director for Jetstar Japan. Strong corporate governance sets the basis for the effective management of long-termrisks and opportunities, and positions the Qantas Group to create, protect and enhance shareholder value. "As frustrating as it is for passengers, for pilots it means we're working a lot harder to keep the flights on schedule," one Qantas pilot said. Our Modern Slavery Statement,pursuant to the Australian Modern Slavery Act 2018 (Cth) (MSA) and s54(1) of the Modern Slavery Act 2015 (UK MSA) sets out the actions taken by the Qantas Group to assess and address modern slavery risks in our operations and supply chains. Part of Wallace's remit will be to guide preparations for the company's "Project Sunrise," according to Qantas. click here. Opens in new window. Our diversity strategy, meanwhile, is focused on mitigating unconscious bias, improving access to flexibility, recruitment and talent programs and dedicated leadership development. The Qantas Groups approach to creating and protecting long-term value rests on two strategic pillars: Looking Ahead She holds a Bachelor of Commerce (Honours) from the University of Melbourne and is an alumnus of Harvards Leadership Finance Program. Supporting our Code of Conduct and Ethics is a suite of policy documents, procedures and guidelines that outline the minimum standards required of all our employees, and which support our employees to act legally and with integrity. The Group has considered transport of unsuccessful asylum seekers through multiple lenses, including as part of the salient human rights issues assessment undertaken in 2018; a targeted risk assessment inclusive of the impact to our broader stakeholder group; and the Groups capacity and qualification to second guess a complex and comprehensive regulatory and judicial process. Thats how we create value for our stakeholders, opportunities for our people and world-class experiences for our customers. Our approach to risk management starts with our first priority: the safety of our customers and people. Where appropriate, we're committed to working with external organisations and initiatives that promote transparent reporting of financial and non-financial metrics in the public interest. For example, the Qantas Airline may end reducing its business international operations. Italian TMC Gattinoni Business Travel has opened a new office in Treviso, in the country's north-eastern Triveneto region, following the acquisition of rival TMC Btexpert. He has been involved in start-ups, mergers, acquisitions and major change programs. We do this by implementing an effective risk management framework that is embedded in the Bank's processes and culture. hR:)[%_f: -7Q&vj;gm ! q$u}^VQ PI Qantas is often referred to as a "legacy airline", which is code for an airline that came out of public ownership with generous pay and conditions compared tonewer competitors. The Group aims to ensure a safe and fair working environment for our people and we also recognise the rights of our employees to freedom of association with unions and collective bargaining. It is the intention of the Qantas Group to require employees to be vaccinated against COVID-19 and this is being explored in all our international locations. As a matter of fact, only particular people are gifted with a talent for writing. Objectives The revised Risk Management Policy forms an integral part of the internal control and corporate governance framework of Bharat Forge Ltd. Two words showed something was wrong with the system, After centuries of Murdaugh rule in the Deep South, the family's power ends with a life sentence for murder, With Prince Andrew's sweetheart mansion rental ending, King Charles offers compromise that shocks his son, Flooding in southern Malaysia forces 40,000 people to flee homes. I couldn't have scripted a better career.". For Qantas, these partners include Make-A-Wish Australia, the National Australia Day Council, Sydney Gay & Lesbian Mardi Gras, UNICEF Australia, the Great Barrier Reef Foundation and Oz Harvest. "All the disruptions that we're getting, none of them, in and of themselves, are anything different to what we deal with on a day-to-day basis," he told ABC's Four Corners. And it was only realised it was done the wrong way just before the cargo hold was supposed to be closed.". The regular refresh of our saliency assessment is critical in helping us prioritise the human rights issues which are, or have the potential to cause, the most harm, and enables us to manage the key risks to people and to the business. We integrate aviation operational safety, work health and safety, aviation and cyber security, environment and business resilience, learning from collaboration and shared experiences to make the system better and stronger. Both roles will report to Qantas Group CEO Alan Joyce. Cyber Security Policy; 5. The drivers of this result were consistently strong travel demand, higher yields and cost improvements from the Groups $1 billion recovery program that is nearing completion. As weve done during the pandemic, were continuing to transform to make sure were well positioned for the future. Alan Joyce says it's "not good enough" thatQantas customers have been been dealing with flight delays, cancellations and lost baggage over the past few months. We report our progress against the framework goals through half-year and full-year results announcements, quarterly trading updates, our Annual Review and Report, our Annual General Meeting, regular Investor Days, and other ad hoc investor presentations. We are committed to achieving world class environmental performance in all aspects of our business, reducing our emissions footprint, and contributing to the growth of a low-carbon economy. The Audit Committee undertakes the functions of a risk committee as set out in the ASX Corporate Governance Principles. Oversight is maintained through the assurance activity of Qantas Group Audit & Risk, and ultimately the Audit Committee. Andrew began his career in IT consultancy. Risk Management Policy Release Date December 11, 2014 Revision Date June 24, 2021 Issued by Risk Management Committee Supersedes Released dtd. They are: Our success as a business and our approach to corporate citizenship starts with the custodians of our brand - our people. "Now, if you are a worker with a mortgage and your employer is threatening to terminate your existing enterprise agreement, the consequence for you could be that you can't pay your mortgage, that you no longer have the income coming in that you have organised your life around.". The Qantas Group highly values and promotes a speaking up culture, where all Disclosing Persons feel comfortable to raise matters that are of legitimate concern to them, including in relation to a potential breach of any legal or regulatory requirement or a Qantas Group Policy. Upgrade my browser. It is usual for each risk to have a named risk owner. Pilot Keith Marriott retired in 2020 after a career flying planes for Qantas that spanned 36 years. In plain English, Qantas would find a new company to hire other pilots to do the work. He joined Qantas in 2006 as General Manager Strategy, then CFO and Head of Commercial for Loyalty and was Group Deputy CFO from August 2009 before being appointed Group CFO in March 2015. Therefore, job security is absolutely paramount, and pilots cherish their job security. Scope FY23 Preliminary Final results announcement. <>/ExtGState<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 595.32 841.92] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> We provide high-quality papers covering a wide range of services. As cancellations and delays threaten Qantas's reputation with customers and its budget faces challenging conditions, can the airline turn things around? 1 . hb```a``f`e`.Ugb@ !+sLt``0\)1`K%A , OH8H#?Dl'7Np`2fr@S)A4)Ah3S[+.w`gL\Nf 2 ^! His current role includes these functions as well as shared services for safety, workforce planning and ground operations as well as Auckland based B737 operator Jetconnect. Risk management explicitly addresses uncertainty. I am the airline's first responder. You'll facilitate risk workshops for strategic projects/initiatives and business as usual activities as required. The Qantas Constitution (PDF) is Qantas' key governance document.

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