Udaipur: The award was presented to Hindustan Zinc's MAS (Management Assurance Service) team for Fraud Prevention and Ethics Management at the 8th edition of The India Risk Management Awards ceremony held in Mumbai. ICICI Lombard MD & CEO Bhargava Dasgupta, CNBC-TV18 Executive Editor Latha Venkatesh, and eminent business strategist Nirmalya Kumar graced the ceremony as guests.
Arun Mishra, CEO of Hindustan Zinc, said that the Risk Management Profile at Hindustan Zinc is based on a highly transparent system wherein teams at all levels are encouraged to report any type of risk category through various online reporting platforms. This award is a legacy to our systems and processes that ensure risk mitigation, smooth operation, people management, and compliance framework from top to bottom management.
The India Risk Management Awards recognize organizations and teams that have made significant contributions to the understanding and practice of risk management as a responsible corporate; Hindustan Zinc is committed to effective risk management, which is critical to the success of the company's business. Hindustan Zinc focuses on ensuring regular mapping and mitigation of all risks that could potentially impact their business. The company has implemented a well-defined Risk Management Framework that allows them to identify, assess, and classify relevant risks at all levels through a well-defined process with defined roles and responsibilities at each stage.
Hindustan Zinc follows a strict code of conduct and encourages reporting of irregularities through the whistleblower mechanism. To prevent fraud, the company has taken several control measures. Foreign Corrupt Practices Act (FCPA) and ethics training, updated SOPs, IT/authority controls, and outcome management are used to undertake these measures.