Enterprise Risk Management
Nevsun’s approach to identifying and managing risk has been a critical component of how management and the Board run the business. Nevsun’s enterprise risk management process is currently coordinated by the Chief Financial Officer and managed by the senior management team with direct oversight by the Chief Executive Officer and the Board. Nevsun conducts a top-down review of key strategic, operational and financial risks at least quarterly. Nevsun maintains a risk register which is updated on a monthly basis by the appropriate business owner of the risk. The risk register contains a list of actions to ensure risks are mitigated to the agreed upon level of risk tolerance. The results of the enterprise risk management process are reviewed quarterly by the Audit Committee and semi-annually by the Board of Directors.