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Risk Management Structure

GTL’s risk management structure conforms to the requirement of Clause 49 of Securities and Exchange Board of India’s circulars.

An integrated risk management system continuously identifies monitors and manages GTL’s risks. The audit committee of the Board provides the overall policy guidelines. This committee also conducts periodic reviews of GTL’s risk management policy, while the Board monitors GTL’s risk management through quarterly risk reports.

Risk Management Framework

GTL benchmarks its risk management practices to global best practices, as laid down by COSO, The Committee of Sponsoring Organizations of the Treadway Commission (www.coso.org).

GTL has an internal risk reporting and control system for each of its business segments and subsidiaries, to ensure continual and transparent monitoring.

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Business risk	Operations risk	Financial risk
Technology risk	Legal and compliance risk	Intellectual property rights risks
Insurance

Operations risk


GTL encounters risks from processes, systems and people like other service providers. It mitigates such risks through continual improvement—standardizing information processes, designing and building workflow-based systems that integrate the various processes relating to management, operations and human capital.

	Processes and systems

	GTL has an internally approved workflow based approach to project management. Digressions are strictly unacceptable, unless they are justified by specific circumstances and authorized by designated officers. GTL has an efficient internal control system in place, through manuals thorough with processes and procedures.

	A security policy is in place, supplemented by regular audits. GTL also has business continuity and disaster recovery planning, an aspect that its clients judge while evaluating a service provider.

	GTL’s international clients, who follow their own stringent service standards, is an testimony to the reliability of GTL’s processes and systems.

	Liability risk

	GTL also faces the liability risk from its SLA driven contracts and it addresses this risk by taking extensive liability insurance and also by contractually limiting its liability through the liability clause.

	Process improvement through quality

	Quality has a direct bearing on performance and thus affects business. GTL has always had a non-changing stance when it comes to quality and has managed this aspect of quality by covering a range of quality norms and performance standards.

	People

	GTL has implemented an extensive and comprehensive organizational development plan. Risks relating to people are overcome through a cautiously designed recruitment process, which ensures the right fit, followed by a set of training programs which are customized to individual needs, as identified by performance appraisal.

	GTL has always encouraged and advocated learning and development at all levels of the organization as a principal way to overcome such risks. GTL’s ‘Talent Management Program’ fosters the spirit of ‘growing together’, rewarding achievers and grooming them for senior positions.