Risk Management Structure and Operation
The Company has established the "Risk Management Policies and Procedures" as the highest guiding principle for risk management.
The Board of Directors is the highest decision-making body for the risk management of Oneness Biotech, responsible for approving, reviewing, and supervising the Company's risk management policies. Related organizations, policies, and procedures must be approved by the Board of Directors to ensure the effectiveness of risk management, and bear the ultimate responsibility. The Board of Directors was given authorization to establish the “Risk Management Committee”, composed of all independent directors.
The ESG and ERM Executive Committee is the unit responsible for the execution of risk management. The main responsibilities are execution-level matters in the supervision, evaluation and assessment of the Company’s risk. It shall exercise its duties independent from business units and operating activities, and shall report the operational status to the Risk Management Committee at least once a year. The most recent report to the Risk Management Committee and the Board of Directors was on November 11, 2024.
Risk Units include both the first line and the second line of defense. The first line of defense comprises business handlers who are tasked with executing business operations in compliance with internal control systems and regulations. They are the primary units responsible for identifying, assessing, and controlling risks. Additionally, the second line of defense comprises department heads or designated risk management personnel, who are responsible for managing business-related risks. They are tasked with reviewing, amending, or supplementing internal regulations based on the actual operations of the business.
Establishment of a Risk Culture
The "Risk Management Policy and Procedures" incorporates the spirit of risk management into the Company's operational strategy. Internally, the continuous promotion of risk management is not the responsibility of only a specific unit, but should be recognized by all employees to bear the responsibilities together.
Risk Management Process
With reference to the “Corporate Risk Management” published by Committee of Sponsoring Organizations of the Treadway Commission (COSO) and the Taiwan Industrial Sustainable Development Association, we aim to enhance the resilience of our business operations by implementing processes such as identification, assessment, monitoring, reporting, and respond to control risks within acceptable.
2023 Risk Response
Emerging Risk Management
In order to strengthen the management, control, and response to future risks, the Company not only predicts the aforementioned risks based on past experience, but also refers to literature published by domestic and foreign institutions to assess emerging risks to understand their possible impacts and formulate countermeasures. After reporting the relevant risks, the Company will continue to monitor the effectiveness of its management, control, and mitigation measures for risks.
※The above content is taken from the ESG Report
