In recent years, BASF’s risk management governance, as part of the Corporate Center, has evolved from a primarily reporting-focused approach to one that supports the business units in enabling integrated risk and performance management. This was driven, on the one hand, by the high level of uncertainty caused by the crises of recent years and, on the other, by increased regulatory requirements for risk management, e.g., the new audit standard issued by the statutory auditors. The further development included, for example, establishing a Risk Committee, community work to promote risk culture, intensifying monitoring activities related to risk management activities in the business units, expanding reporting, and introducing new risk management software. In this session, you will learn:

• What defines the role of risk management governance at BASF
• What developments have taken place in recent years
• How integrated risk and performance management is put into practice at BASF

More information about the talk at CRM 2024