In order to ensure a global approach to risk management, the TIM Group has adopted an Enterprise Risk Management (ERM) process. This is a corporate risk governance tool used to identify, assess and manage risks.
The Group has adopted an Enterprise Risk Management (ERM) Model which allows risks to be identified, assessed and managed uniformly, highlighting potential synergies between the parties involved in assessing the Internal Control and Risk Management System. The ERM process is designed to identify potential events that may influence the business, in order to manage risk within acceptable limits and provide a reasonable guarantee that business objectives will be achieved.
The process is managed by the ERM Steering Committee, which is chaired and coordinated by the head of the Security Department. The Steering Committee meets every three months (or when specifically required) and is intended to ensure the governing of the Group risk management process, which is designed to guarantee the operational continuity of the company's business, monitoring the effectiveness of countermeasures adopted.
The process adopted is cyclical and includes the following stages: