Risk Management Structure and Operation
The Company has established a "Risk Management Committee" and a "Risk Management Task Force", and adopted the "Risk Management Policies and Procedures" to establish a comprehensive risk management system.
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 convener, Director Huang San-Kui, was previously the director of the National Health Insurance Administration and implemented the Second Generation NHI during his tenure. Mr. Huang has extensive industry experience and risk management expertise.
The Company has set up a risk management team that oversees the execution of risk management, mainly responsible for the monitoring, measurement, and evaluation of risks of the Company and other implementation aspects. The risk management team reports to the Risk Management Committee at least once a year. The most recent reports to the Risk Management Committee and the Board of Directors were both on November 9, 2022.
Establishment of Risk Culture
Oneness has established the "Risk Management Policies and Procedures," which were approved by the Board of Directors in August 2020. They serve as the overriding guiding principles for risk management. The Policy and Procedures are jointly promoted and implemented by the Board of Directors, management personnel, and employees at all levels of the Company and its major subsidiaries. The procedures incorporate the spirit of risk management into the business strategy of the enterprise. Internally, we continue promoting the notion that risk management is not the responsibility of only certain units but a responsibility to be shouldered by all the employees.
The responsible unit identifies risks from the perspective of overall corporate operations, measures and analyzes the impact of each risk on corporate operations, and plans risk control measures in order to control the potential risks of operating activities within the tolerance of the Company. For example, Oneness Biotech has incorporated risk criteria into the R&D process of products and will take legal requirements and risk impacts into consideration when making future business plans and development strategies.
To further strengthen the implementation of the risk culture, the Company provides training for employees from time to time, and sets an example through the actions and decisions of the senior management. Regular assessments and evaluations of the risk management program can help identify areas for improvement and ensure continual learning and improvement.
Risk Identification, Analysis, and Countermeasures
In terms of the risk management and control process, the first step is to identify the risks related to relevant topics, determine the risk items, and analyze the impact of the risk items before carrying out control and reports. The implementation of each risk management process is reported to strengthen the effectiveness of risk management.
2023 Risk Report
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.
Emerging Risk Assessment
※The above content is taken from the ESG Report
