qantas group risk management policy

Prior to joining Qantas in 1996, Naren worked for Air Pacific (now Fiji Airways) for 12 years in various executive roles, including Chief Operating Officer. 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. 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. He has a broad range of commercial, operational and people leadership skills. Upgrade your web browser for an enhanced experience. It claimed unions weremaking "baseless and generalised" safety claims to "further their industrial agendas". To find out more about our environmental strategy and performance, The entry of the new players in the industry will increase the competition and this negatively affect the Qantas Airline profit. As Chief Financial Officer his portfolio included Finance, Strategy, Treasury, IT, Procurement (including Fleet), Investor Relations, Mergers & Acquisitions and the Groups Business Transformation Program. For example, the Qantas Airline may end reducing its business international operations. However, some employees Four Corners spoke to worried that, amid outsourcing and loss of experience, and cost-cutting and chaos at airports, the layers of defence had thinned. Training is primarily delivered online, however we may conduct face-to-face training for employees operating in high-risk roles following consideration of factors such as the corruption risk index of the country, the level of interaction with government, and the nature of the business activity. As a result, we have emerged from the pandemic a stronger and more resilient company. security and internal audit risk across the Qantas Group. The Australian Taxation Office (ATO) has advised that the Qantas Group is a key In FY22, the Group operated more than 220 repatriation flights for the Australian Government, bringing people home from around the world. There is a large likelihood for the risks facing Qantas Airline to occur. This will have negative impacts on the company profits and may also be an opportunity for the competitors to thrive. "I considered it to be one of the greatest privileges that anyone could have. Risk Management Policy is framed as per the following regulatory requirements: Companies Act, 2013: Provisions of the Section 134 (3) "There shall be attached to financial statements laid before a company in general meeting, a report by its Board of Directors, which shall include A summary of indicators can be found hereOpens in new window "And then what they do is, they play one group of pilots off another group, and essentially threaten to take the flying a group of pilots is currently doing and give it to another group of pilots.". CHESS also has oversight of risks associated with regulatory compliance. Qantas has said "data shows a lower rate of incidents compared to when ground-handling was done in-house". "What we have had to do over the years to be efficient to be able to compete in a very competitive in market," Mr Joyce told ABC's Four Corners, in answer to our questions at the Qantas group financial results briefing. Oversight is maintained through the Boards Audit Committee and Safety, Health, Environment and Security Committee (also known as CHESS). % ", When asked if it wasfair, MrJoyce replied: "It's a necessity for us to keep our business going.". Since then, the Group has been working to implement these across the core elements of climate-related disclosures. Climate scenario analysis allows the Qantas Group to estimate how we are positioned to withstand different climate futures over the medium to long-term. "We're working longer hours. Definitions 1) Life insurance and pension programs are primarily managed by HR and Group Compensation & Benefits. He worked for a specialist, external labour-hire firm that supplies flight attendants to Qantas and a subsidiary company, QF Cabin Crew Australia, that Qantas set up to employ new international flight attendants. The Annual Report contains key financial information about Qantas, as well as important operating and corporate information. Information on our historical performance, including Annual Reports and ASX information can be found in our Investor Centre. Tino La Spina will move to the role of Chief Executive Officer of Qantas International on 1 October 2019, with Vanessa Hudson formally commencing as the Groups new Chief Financial Officer on the same date. _W+ Opens in new window, To find out more about how Jetstar is making a difference, "And, when you equated their hourly rates and conditions, one legacy crew, for example, would get you two Kiwis, three British or two Qantas Cabin Crew Australians," he said. Before Qantas, Andrew was Senior Vice President Public, International, Industry, Environment Affairs at Emirates, based in Dubai. Bags are being loaded onto aircraft incorrectly. contacting the Whistleblower hotline, which is independently managed on behalf of Qantas by PricewaterhouseCoopers (via phone on 1800 855 212 or +612 82661453, via. He has more than 35 years experience in the aviation industry across regional, domestic and international operations in both the premium and low cost carrier sectors. Learn about our corporate governance framework which is designed to ensure the Group lives up to its obligations and commitments as it works to enhance shareholder value. We regularly review our risk triggers and due diligence processes to ensure they are reflective of changes in the global environment and are effectively designed to enable us to identify, prevent, mitigate and account for how we address modern slavery risk in our supply chain. Can the dogs of Chernobyl teach us new tricks when it comes to our own survival? |}CWM[]*C:5m6n~5V}xwm]\M^^uwHYc'{{u9+jt4o\>-{67['aN~_aR,X,,EQ+:#W9u^P5B-9;+u A=3I{ ,ymxd1g9f)y>G#|DQaFAFaFAFa.A.a.A.aAaA@ @ @ @ @ @ @ yyx Secure Your Legacy. He commenced with Qantas as Chief Operating Officer in July 2014 and on 1 March 2015 was appointed Chief Executive Officer of Qantas Domestic. SHOW MORE Risks are assessed in accordance with the Qantas Group Risk Assessment Guide (QRAG). She holds a Bachelor of Commerce (Honours) from the University of Melbourne and is an alumnus of Harvards Leadership Finance Program. Qantas staff fear the airline's stellar safety reputation is at risk as pressure from management mounts. Therefore, there is a risk for the reduction of the Qantas Airline domestic market. Insiders have told us how this strategy has backfired spectacularly. The Board has established Committees that are responsible for considering detailed issues and making recommendations to the Board. Key to this is responsible, ethical and sustainable business practices. We aim to build a diverse, inclusive and resilient culture to maximise engagement and performance, and remain an employer of choice in Australia. "But what we're seeing at the moment, we're seeing them occur multiple times in the day. Risk management is an integral part of all organisational process. To find out more about how Qantas is advancing the best of Australia, The three principles that underpin this approach are: Every Qantas Group employee is a custodian of our reputation for excellence and integrity, with a responsibility to uphold the standards we set ourselves and the values we represent. "We can't build enough experienced people doing the job more efficiently and safely, so we do jobs more slowly and haphazardly as people just don't know, they're still learning on the job. Our services include term papers, research papers, book reviews, homework assignments, dissertations, assignments, business papers, and thesis papers. Opens in a new window Opens in a new window Qantas Airways Limited shares are up 1.5% in Tuesday trading as we head into the lunch hour. Stephanie Tully was appointed Chief Customer Officer in August 2019, following a 15-year career at the Qantas Group spanning operational, commercial, customer experience, marketing and strategy roles across the airline and loyalty businesses. The group consists of: Jetstar Airways in Australia and New Zealand, wholly owned by the Qantas Group. 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. Former Air New Zealand executive Cam Wallace has been appointed to lead Qantas' international and freight division. Yet its own employees, and not just union officials, raised these concerns with Four Corners. 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. i_2vXqG}[CLwb"9 yv@VnC1_o_Snh>;7ZwL,tqXzbT4ZXFOQL0"lDV[] ]PG%d0DXlsGLh:@H"I"M0FqyPgthnaE\PDNqsuTPPj:BHzU;"&/=TTy:G5O0&[Z[nk;CO`xYaGhHJ{e~,^ZB*BXKaaPtxcN$7^jr}Pq The Qantas Group is announcing changes to its Group Management Committee, as the national carrier moves into a new phase of growth and renewal. During the pandemic we made tough but necessary decisions to ensure that we survived and could recover quickly. Our approach Responsible lending Our credit policies incorporate consideration of ESG risk, regulatory requirements and voluntary commitments. The GMC is chaired by the CEO and meets fortnightly to review Qantas Group returns to profit with record first half result. Especially the staff that we deal with on a day-to-day basis around aeroplanes, ground staff, check-in staff. Risk refers to the probability of an event and potential consequences, both positive and negative, to UNCG. Oversight is maintained through the assurance activity of Qantas Group Audit & Risk, and ultimately the Audit Committee. The system integrates the management of risks associated with aviation operational safety; workplace health and safety (WHS); aviation and cyber security; privacy and data governance; environment (including climate change); and business resilience. The Qantas Group is committed to complying with all applicable laws and regulations, and to conducting business with the highest standards of ethics and integrity. Objectives The revised Risk Management Policy forms an integral part of the internal control and corporate governance framework of Bharat Forge Ltd. "It's been prepared to take every angle under the act. Our sports and arts sponsorships are focused on supporting elite Australian talent and helping our national teams excel in global competitions. The Qantas Group is committed to implementing policies and procedures that meet our moral and ethical obligation to end Modern Slavery. Re-establishing key governance forums such as the Supply Chain Assurance Leadership Council and business-led supplier governance mechanisms and internal working groups. Risk Management Policy; 9. But in the aviation chaos of the past few months amid huge numbers of delayed flights, cancelled flights, and after the loss of experienced staff employees have told us about their fears that the stellar reputation of the airline they love could be undermined. We require independent third party auditors to carry out extensive on-site assessments which audit workplace practices including adherence to living wage requirements, maximum working hours, acceptable living conditions and corporal punishment. Qantas risk management practices capture threats and opportunities that have been assessed using the QRAG, with risks reported to Executive Management based on their significance (risk rating and/or consequence levels). We hedge fuel and foreign exchange to protect against material adverse movements not to beat market prices. Our Supply Chain Assurance program, launched in FY18, has a clear focus on six key risk areas: This program helps us understand how our suppliers are producing the goods and services we pay them for, and to make sure they comply with Qantas'Supplier Requirements (PDF). 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 *Please note, applicants must have unrestricted working rights to live and work in the USA. Our due diligence program assists us to assess and ensure that those we partner with operate with a commensurate level of integrity, operate within the law and meet our requirements. hR:)[%_f: -7Q&vj;gm ! q$u}^VQ PI Finally, the global financial and economic crisis affects all companies undertaking the international business(Robertson, 2016). Andrew moved to Australia in 2005 from New Zealand where hed spent thirteen years with Air New Zealand in various executive roles. I am the airline's first responder. 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 costs of maintaining staff will contribute to negative impacts on the company profits. Olivia joined Qantas in 2009 and has held several positions, including the role of Chief Customer Officer, Group Executive, Brand, Marketing & Corporate Affairs and Group Executive for Government Relations and Corporate Affairs. Its about taking actions now to ensure we can succeed and grow for the decades ahead: building value for our shareholders; creating great jobs for our people; providing world-class service for our customers; and making a positive impact on the environment and community. The Qantas Group strongly believe that vaccination against COVID-19 is critical for the safety of our people, customers, ongoing operations and for aviation more broadly. People are the core of our business, and our commitment to respect human rights, which includes labour rights, starts in our own operations. Safety and Health Policy; and 10. Part of Wallace's remit will be to guide preparations for the company's "Project Sunrise," according to Qantas. e9 VHh_>&4BRP#U"1R1n'Fhcd6b!T"8l bH,Qp/'r{HrNjGCu9w;L;:9zuYvO}b{=sYuO66q,-]j|gwN]u&w94~97>cdbo[Auv_(:3yeo];2BiQS1\.zE?ztfn~BqY^TY.I3NGm?;.EDMg]6"eO2(&,Kz\:Gb^0pTeTCy+zMo=a"}L)&4fTRE5aa=I: /zw8X4-&gl .NG_on|pINR:dN>8!Wl\lV%}m$9iC'YlyUX. Its constant refrain is that it does what it needs to do to meet its business objectives, compete in a tough market, and remain viable. Tax risk management is governed by both the Qantas Group Risk Management Policy and the Qantas Group Tax Risk Management Policy, ensuring corporate governance obligations with respect to tax risks are met. 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. Qantas was one of the first airlines to introduce an integrated Safety Management System in the 1990s, which we continue to evolve. Since 2014 Stephanie has served as a Board Director and Vice Chair for the Association for Data-driven Marketing and Advertising (ADMA). Both Qantas and Jetstar have introduced engagement and culture-focused training programs, covering 21,000 employees. The Qantas Group is committed to transparency on key performance indicators, including environmental, financial and social. Matthew Allsop spent just shy of 16 years wearing the Qantas uniform and "flying under the Qantas tail but never actually worked for Qantas proper". The frequency with which the Board is informed about issues depends on the significance of the specific risk. The same tactics were used with short-haul pilots in the modernisation of the domestic fleet. The role of CEO of Qantas Domestic and [] Read more "This investment can't be made at any cost and the flight crew cost base remains the last component of the overall business case which needs to be met," Qantas management told pilots in an email. To We were also told inexperience led to close calls, because it wasvital luggage and cargo be loaded onto planes correctly for the right weight distribution. Audience This policy applies to all entities within the Sandvik Group Some staff we spoke to worried that what they view as the nickel-and-diming of staff is approaching a point where it could affect safety. Our people are back at work, millions of customers are safely flying across Australia and around the world, and weve made significant progress on our three-year recovery program. making it easier for people to formally report workplace bullying and harassment; improving the inclusiveness of organisational culture; and. Qantas claims that its approach is "common across the industrial landscape"; it's less common to use a structure of subsidiaries and silo companies to achieve that goal. The CHESS has responsibility for strategy, policy, systems oversight, monitoring and corporate governance over operational risks of the Qantas Group. But conditions do not always remain grandfathered. Under the Qantas Group COVID-19 Vaccination Policyall Australia-based new employees of a Qantas Group entity must be fully vaccinated with an Approved COVID-19 Vaccine and provide Evidence. "One incident I'm aware of, the ground handlers, they loaded the aircraft incorrectly," one employee said. Group CFO 4. The radical Qantas action smashed resistance to what has become a foundation of the airline's business model: to gradually replace, or threaten to replace, existing employees with outsourced labour, or hire new staff on lower pay and conditions hired through subsidiary companies Qantas creates or acquires. The Board has approved charters for each Committee: Audit Committee Charter (PDF) Nominations Committee Charter (PDF) Remuneration Committee Charter (PDF) Safety, Health, Environment and Security Committee Charter (PDF). In summary, the changes are: Andrew David, who is CEO of Qantas Domestic and International, will retire from the Group in September 2023. k_'J+BpphOjtH`w=KBfvFl'`' m8d 4=lY1843VW\%zHg^@{yKwco4`PYd9_ Opens in new window. Qantas maintains it has excellent relations with what the chief executivecalls "our people". 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 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. Talk to people in safety-critical roles in aviation, and it's often not long before conversation turns to the 'Swiss cheese model'. as a single source of publicly available policies, procedures, initiatives and performance indicators across our material issues, starting with our Climate Change and Carbon Disclosures. Qantas recognises that airlines have a role to play in preventing human trafficking and was a key sponsor of theInternational Air Transport Associations June 2018 Annual General Meeting ResolutionOpens external sitethat denounced human trafficking. The Qantas Groups approach to creating and protecting long-term value rests on two strategic pillars: Looking Ahead And, above all, achieve the highest standards of safety and integrity. Learnabout how we're managing our climate risk by enhancing our understanding of the physical and transitional risks, as well as emerging opportunities that may arise from a changing climate. This may lead to the closure of some of its international business segments. Our approach to risk management starts with our first priority: the safety of our customers and people. The Qantas Constitution (PDF) is Qantas' key governance document. 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.". CDP website. Since its privatisation 30 years ago, it has been finding creative ways to cut labour costs. 4. 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. Gareth Evans was appointed CEO Jetstar Group in November 2017. <>/Metadata 362 0 R/ViewerPreferences 363 0 R>> You will lead the delivery of risk management improvement projects as well as provide risk advisory services to enhance risk management capabilities, culture and awareness across the Qantas Group. As part of this, we commissioned an independent survey of several thousand employees in 2019 to better understand their experience of any harassment in the workplace. The Qantas Board of Directors is responsible for confirming that Qantas has an appropriate corporate governance framework to ensure the creation, protection and enhancement of shareholder value. 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. In addition to the human rights due diligence and risk assessment of new and recontracting suppliers, we commenced work to assess our existing unassessed supplier base. David will remain as CEO of Qantas Domestic until his departure. 4 0 obj Financial Risk Management Policy Loss Prevention Procedure 2. To find out more about our hedging policy and treasury risk management, see our J&5^tzbQc>PS0pp"'->]jv-y~:U2Tfpkec *onFDY;ZL6EM.wrmmn>q6_A!0VnBZ[&B X'@0.t/n3U. Likewise, the existing competitors are likely to intensify their competition to either increase their market share of maintain their competitor advantage. You basically fully commit your life to the job, but your skills are not portable. Supplier Requirements. Opens in new window, To read our Supplier Requirements and find out more about our supply chain, Prior to joining Qantas Group in May 2002, Lesley held senior executive roles at both Ansett and Air New Zealand. This incident can be seen one of two ways:The fact that a supervisor apparently picked up the error before the plane departed could suggest that the Swiss cheese defences are robust. 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. He is careful not to overstate safety concerns but acknowledges risks have grown. The Company's Risk 2008/09 Qantas Data Book . We aim to foster a workplace where people respect and tolerate the rights and differences of others. /`B4zI *9@/dp&u{I2{?$}MdxySCER:s MEa8dO/jS=)h2yw?O-FO_yu vD&0%\*+pE`1cu[ @rJZRtahpEVyJrx hTIbK),\8} ,9r{(,sujS`A@yB+K2Qt9 We're proud of our joint collaboration with government and broader industry to strengthen Australias approach to anti-corruption through our participation in dedicated focus groups, such as the Bribery Prevention Network and our association with industry bodies such as the Global Compact Network.

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