Corruption risk management
At Saab, mitigating risks is a crucial part of doing business. That is why we have a group wide management process to map and assess risks and create risk awareness.
Saab’s enterprise risk management process aims to give a group-wide picture of Saab’s top risks. The process is annual and includes a systematic review of the strategic, operational, political, financial and compliance risks associated with the operations of each Business Area, Market Area or Group Function. Identified risks are measured in terms of impact, likelihood of occurrence and effectiveness of risk control and the result is reported to the Group Management and the Board of Directors, and is the basis for control and mitigations plans.
Corruption risks are part of the compliance category and are mapped and assessed through a risk matrix highlighting risk factors relevant for Saab’s business operations, such as geographical markets, size of sales and business prospects, type of customer and customer interaction, license or permit requirements, existence of business intermediaries and business partner interaction, employee training and risk awareness.
The enterprise risk management process is an important tool to create awareness of corruption risks at an operational level and to identify and prioritise areas for the continued improvement of Saab’s corruption prevention procedures.
Specific corruption risk management processes and tools are integrated in Saab’s global management system. Market appraisal, business development, tendering and contracting, business partner onboarding, procurement and M&A are operations where identification and mitigation of corruption risks are an integral activity, and supported by specifically designed processes, methods and tools.
Industry benchmarking and root cause analysis of whistleblowing cases and internal investigations are other important elements in the development of Saab’s anti-bribery and corruption program.