Annual Report 2011 - R+V Versicherung

Management Report 4
Risk report
regulations, insider trading, theft, fraudulent activities,
principles of conduct in business transactions and the Allgemeines
Gleichbehandlungsgesetz (AGG, German General Equal
Treatment Act).
At the Compliance Conference, which is chaired by the R+V
Compliance Officer, those responsible for specific issues report
on significant incidents within R+V and also on measures
taken to prevent similar incidents happening in the future.
In addition to reporting to the Risk Conference, the R+V Compliance
Officer also reports directly to the Chairman of the
Board of Management.
Quality assurance in IT systems is provided by established
‘best practice’ processes. All service relevant incidents are
recorded and followed up according to their significance.
Current issues are dealt with in daily conferences and allocated
processing priority. Measures are taken in monthly conferences
attended by IT heads of department if stipulated thresholds
values are exceeded with regard to compliance with service
level agreements (e.g. system availability and response
times). These measures encompass escalating particular problems
areas, coordinating and tracking counter measures and
drawing up and implementing concepts to avoid disruption.
R+V counters the risk of personnel bottlenecks with targeted
programmes in personnel marketing. Broad vocational education,
the offer of courses of study integrated with employment
and attractive trainee programmes guarantee support for upand-coming
talent.
Through sustainable personnel development and building up a
talent management system, R+V ensures that employees are
constantly supported and qualified in order to be able to meet
future personnel requirements from inside the organisation
too.
The tools utilised here include potential assessment procedures,
systematic successor planning and qualification programmes.
Annual Financial Statements 35 Further Information 62 27
Regular employee surveys are conducted in the interests of
sustaining staff loyalty. On the basis of the staff survey in
2011, action areas for staff retention and staff commitment
were identified and measures were initiated to further improve
HR management.
Strategic risk
Strategic risk is the risk that arises from strategic business
decisions. Strategic risk also includes the risk that arises from
the fact that business decisions are not adjusted to a changed
economic environment (including changes to legislation and
to case law).
The control of the strategic risk is based on the far-sighted
assessment of success factors and on deriving target variables
for the corporate departments of R+V. Strategic planning for
the next four years is carried out in the context of the annual
strategic planning process. R+V counters strategic risk by dealing
with strategic planning and other important strategic issues
in the Board of Management conference meeting held in
the spring. R+V uses current strategic controlling instruments
for this purpose, both external strategic market and competition
analyses as well as internal company analyses, such as
portfolio or SWOT analyses. The results of the strategic planning
process in the form of agreed target figures are operationalised
in the context of operational planning for the next
three years and agreed by the Board of Management in the autumn.
The implementation of decisions is followed up regularly
in the context of the comparison of planned and actual data.
Moreover, the links between the strategic decision making
process and risk management are regulated in terms of organisation.
Changes to the business strategy impacting on the
company’s risk profile are reflected in the risk strategy.
Changes to the legislative and supervisory law frameworks as
well as changes in the market and competition are subject to
continual observation in order to be able to react to opportunities
and risks promptly.