qantas group risk management policy

The costs of maintaining staff will contribute to negative impacts on the company profits. A summary of indicators can be found Our Business Integrity Compliance program is overseen by the Qantas Board, through the Qantas Audit Committee. Andrew began his career in IT consultancy. So when we think about sustainability today, we define it in simple terms. With the right risk-management method, accompanied by diligent reviewing of your investments, we work to mitigate the risk to your retirement savings by minimizing exposure to market uncertainties and tempering the effects of inflation on your portfolio. From 2017/18, we will shift our reporting to open source disclosures, leveraging our <>/ExtGState<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 595.32 841.92] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> Risk management is an integral part of all organisational process. 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 k_'J+BpphOjtH`w=KBfvFl'`' m8d 4=lY1843VW\%zHg^@{yKwco4`PYd9_ 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. "It takes a long time to become a pilot. The output of this activity allows us to build a global risk profile to ensure that we focus our attention and resources on the highest areas of risk. He is a member of the Institute of Chartered Accountants in England and Wales. Our Qantas Group Beliefs are our shared commitment to deliver our business goals and to create a great place to work. We monitor global developments in governance, laws and business practices, and work collaboratively across our global footprint to ensure we continue to meet these standards. With a lower Australian dollar, inbound and domestic tourism are growing faster than at any time since the Sydney Olympics in 2000 - a crucial input into the future development of the Australian economy. *Subject to a dividend being declared by the Board. contacting the Whistleblower hotline, which is independently managed on behalf of Qantas by PricewaterhouseCoopers (via phone on 1800 855 212 or +612 82661453, via. We also report our findings in the Qantas Group Annual Review. We acknowledge Aboriginal and Torres Strait Islander peoples as the First Australians and Traditional Custodians of the lands where we live, learn, and work. As a result, we have emerged from the pandemic a stronger and more resilient company. 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. Risks are potentialities, and in a project management context, if they become realities, they then become classified as "issues" that must be addressed with a risk response plan. He has over 35 years experience in aviation across a variety of roles, including six years as Chief Financial Officer for Qantas International and 12 years managing regional arm, QantasLink. /`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 Risks are assessed in accordance with the Qantas Group Risk Assessment Guide (QRAG). Qantas Airline: Risk Management Plan Part 2: Risks Facing Qantas Airline Group The risks facing Qantas Airline can be identified as illustrated in the diagram below; SWOT Analysis Diagram Other Tools and Techniques Tool Identification Techniques Probability and Impact Matrix Risk Data Quality Management Expected Monetary Value Analysis Third, any lucrative business will attract new competitors. Responsible investment Our wealth businesses have Responsible Investment Policies The Board of Directors receives a bi-annual Group Risk Report incorporating the Group Short Term (0-3 year) and Long Term (3-10 year) risk profiles, trends, risk interconnectivity and monitors the management of notable risks. . 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. To find out more about our diversity strategy and key focus areas, "It was a metaphorical gun to the head," Tony Lucas said. Our commitment to strengthening business resilience and fostering a risk aware culture creates the foundation for sustainable performance and adaptability to respond to shifting market conditions. "I considered it to be one of the greatest privileges that anyone could have. 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. 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. Qantas told us it "grandfathers" older conditions for long-serving employees "from a different era of aviation",enabling Qantas to become more competitive over time. A risk is anything that could potentially impact your project's timeline, performance or budget. She holds a Bachelor of Commerce (Honours) from the University of Melbourne and is an alumnus of Harvards Leadership Finance Program. 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. We report transparently to demonstrate how we're creating shareholder value, advancing our strategy, laying foundations for long-term sustainability, and making a positive impact in the communities we serve. Similarly, Qantas Airline is likely to suffer from the consequences of economic recession. Aviation has been at the forefront of the global business response to climate change, becoming the first industry to voluntarily commit to emission reduction targets as far out as 2050. "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. The ability to work under pressure in a highly regulated environment. In plain English, Qantas would find a new company to hire other pilots to do the work. "I think it's fair to say Qantas is a militant employer," professor of labour law at the University of Sydney, Shae McCrystal, told ABC's Four Corners. Consistent with the Groups consultative approach on this complex issue to date, we expect that as our operation resumes, that our dialogue with stakeholders will also resume. Our commitment to strengthening business resilience and fostering a risk aware culture creates the foundation for sustainable performance and adaptability to respond to shifting market conditions. Thats how we create value for our stakeholders, opportunities for our people and world-class experiences for our customers. Program management and oversight is a University-wide responsibility that calls for the active involvement of executive . SHOW MORE Implementing human trafficking training for our aircrew to support identification of, and responses to, suspected instances of trafficking. "We're expected to do basically the tasks that the Qantas ground services did, but with a lot less numbers and experience," said one worker from an outsourcedcompany used byQantas to manage ground-handling. The Board has overall responsibility for the governance of risks. Opens in new window. Tino is a Chartered Accountant, a member of the Securities Institute of Australia and the Institute of Company Directors and is a member of the National Executive of the G100. Opens in new window. Mr Finch leads a team that is responsible for the management of legal, governance, compliance and business integrity, safety, security and internal audit risk across the Qantas Group. As Qantas was betting, the resulting economic damage led the government to intervene and send the dispute to arbitration before the Fair Work Commission, which threw out job security claims being pursued by unions and employees. We aim to build a diverse, inclusive and resilient culture to maximise engagement and performance, and remain an employer of choice in Australia. and Acting Responsibly. Opens in a new window 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. Join Qantas Frequent Flyerorsubscribe to Red Email today. . He recalls how, on some flights, he would work alongside staff from a UK Qantas subsidiary, a New Zealand Qantas subsidiary and legacy staff, on different pay and conditions. Our commitment is reflected in ourCode of Conduct and Ethics[PDF],Human Rights Policy Statement[PDF]and ourModern Slavery Statement[PDF]. Policies Policies Find the information you need to service your customers with ease. This amendment provides the Group with an additional level of verification in line with our voluntary commitments under the UNGPs, while at the same time upholding our position that the Australian Government is best placed to make decisions on the legal status of people seeking asylum in Australia. Our approach to risk management starts with our first priority: the safety of our customers and people. |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 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. In doing so, we can ensure that our business is resilient in the transition towards a low carbon economy. HWMq\~U. Qantas Airways Limited ABN 16 009 661 901. Joining Qantas in 1994 she has held a variety of senior commercial, customer and finance roles across the Group, both onshore and overseas. We set mandatory requirements to manage and protect the health and wellbeing of our employees and contractors governed by the Our Requirements for Health standard and our mandatory minimum performance requirements for risk management, as well as local regulatory requirements, standards and procedures. 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 The policy must also clearly define the roles and responsibilities for managing risks; often in large organizations there is a risk manager who oversees the risk management framework and processes. Lesley Grant was appointed as Group Executive, People, Culture and Corporate Affairs from 1 November 2017 and previously held the positions of Chief Executive Officer, Qantas Loyalty from 2012 to 2017 and Group Executive Customer and Marketing. You'll facilitate risk workshops for strategic projects/initiatives and business as usual activities as required. With the Groups international flying operations still well below pre-pandemic levels, the repatriation of deportees at the request of the Australian Government has been limited to a low number of Involuntary Deportees. The group consists of: Jetstar Airways in Australia and New Zealand, wholly owned by the Qantas Group. Our approach to risk management starts with our first priority: the safety of our customers and employees. endobj 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. FY23 Preliminary Final results announcement. "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. We have made the decision to not actively participate in the following external initiatives: Qantas Group Corporate Governance Statement, Modern Slavery and Human Trafficking Statement, Everyone has the right to return home safely, Being a fit, agile and diverse organisation drives innovation and simplicity, Working together in an inclusive manner always delivers the optimal group outcome, Each employee deserves respect, trust and good leadership. Contract Engagement, Review and Execution Policy; 4. Group CFO 4. The Qantas Group adopts a proactive approach to enable identification, evaluation and effective management of the risks and opportunities that arise. 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. This may lead to the closure of some of its international business segments. Prior to joining Qantas, Rob was a Partner with Bain & Company in Los Angeles and Sydney working across multiple industries, with an emphasis on media, technology and telecom businesses. Strengthening our Code of Conduct and Ethics and Business Practices Document to communicate our human rights commitments and responsibilities, including explicitly prohibiting child labour and forced, bonded or compulsory labour or any other form of modern slavery in our operations and supply chains. We recognise our responsibility to respect human rights by taking steps to avoid negative impacts on people and the planet from our activities, and by making positive impacts where we can. endobj OurModern Slavery Statement (PDF)outlines in detail the measures the Group had to take to ensure its survival, including the potential human rights impacts, on our people, operations and supply chain. It does not dispute union estimates that numbers are down by up to 35 per cent on the levels it had before the onset of COVID-19. He is a Fellow of the Royal Aeronautical Society and the Australian Academy of Technological Sciences and Engineering and holds a Bachelor of Science in Applied Science (Physics and Mathematics) (Honours) and a Master of Science in Management Science. He is also president of the Australian and International Pilots Association, a voluntary position he holds alongside his job at Qantas. 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. Reconciliation Action Plan (RAP) In addition to her current responsibilities, Lesley has played an active role within Qantas Group in talent development and inclusion and diversity. Additionally, the attempts to lay off or retrench some workers may result into litigations that will cost the company heavily. This process is designed to identify, assess, monitor and manage all business risks, including strategic, operational, financial, and compliance risk. Prior to that, Vanessa was Senior Vice President for Qantas across the Americas and New Zealand; Executive Manager of Commercial Planning, where she was accountable for network planning and revenue management; and Executive Manager for Product and Service where she oversaw transformation in catering, airports and network aimed at driving better commercial and customer outcomes. Talk to people in safety-critical roles in aviation, and it's often not long before conversation turns to the 'Swiss cheese model'. 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.