The annual Group Risk Management Awards, now in its 3rd year, recognized SBU/BU Risk Management teams for their excellence in the field of Risk Management. This is part of the Group’s commitment to increase engagement among the Risk Managers, share best practices, support continuous learning and development, and promote the group risk management values anchored to the Aboitiz Group core values of Integrity, Teamwork, Innovation, and Responsibility.
This year’s winner for the Risk Initiative of the Year Award was decided based on the combined scores of the judges which is composed of AEV and AP Risk Team Leaders and Head of Group Internal Audit, and online votes from the members of the Group Risk Steering Committee. It was a close call until the final round.
Hedcor Risk Management Team’s Risk Management Plan (RMP) Platform bested six other SBU/BU entries vying for the said title. This was a huge credit to the great work put by the team in coming up with an innovative solution to improve efficiency in their key processes. The platform maximizes common tools like google sheets and Gdrive making it easy to replicate by any BUs with no cost. It also has the ability to generate consolidated reports for key operational and common risks thus significantly reducing manual time preparation and enabling the team to focus on the analysis part. Here are some of the feedback on the implemented process optimization:
Overall, the meeting was effective. I appreciate the improvements that you guys have made and hope that you continue!
–Carlos Aboitiz, President & COO, Hedcor
“Since the solution is capable of (almost) real-time reporting, it naturally enhances the progressive risk culture that Hedcor already has, as manifested in the disciplined monthly status reporting on its ORMPs in the Opscomm and BU Mancom.”
–Tuts Manalac, AP Risk and Organizational Performance Management, Head
“Hedcor’s RMP platform is a promising tool to improve consolidation process”
–Ors Aquino, AP Risk and Organizational Performance Management, Risk Manager
“Improved digital platform utilization”
–Galen Alova, Operations and Maintenance Grid Manager
“Appreciate the platform that your team came up for the ORMP. It’s very innovative and helpful – made the updating easier.”
–Karen Gonzales, HRQ Supervisor
The 2nd & 3rd place finish went to Pilmico Risk Management team for its Risk Management Dashboard and Project POVID (Power of Visual Digitization) entries, respectively. Other finalists were the 2 equally viable projects of Coal for Conditional Classification of Assets for Insurance Declaration, and Project Hermes (Automated Incident Notification Tool), and UBP for GRC – Operational Risk Management Transformation.
The increase in the number of initiative entries this year is a testament of how we apply the value of innovation in our day to day lives as Risk Managers. May this activity continue to inspire every team to innovate more and think of innovation as a way to move forward most especially as we ease to the new normal.
Lastly, the winner for the Risk Management Team of the Year is also Hedcor for the third straight year. This award recognizes the outstanding performance of the team in the delivery of risk management deliverables and requirements from the Group as detailed and assessed based on the SBU/BU performance evaluation scorecard. Truly, Hedcor has gone an extra mile in creating value to the organization through their risk management processes, initiatives, and targets.
Again, congratulations to all the winners and participants of the 2020 Group Risk Management Awards. Until the next season!
