KUFPEC uses an enterprise-wide portfolio approach for the management of enterprise risk.  ERM provides uniform processes to identify, measure, manage, mitigate, and report on key risks.  It supports KUFPEC’s BOD corporate governance needs, enables informed decision-making, and identifies areas for the optimization of value. 

The KUFPEC ERM Program is governed by an Enterprise Risk Management Policy.

Risk will be managed through a formal risk process set forth in this Policy.

KUFPEC intends to create a Center of Excellence for risk management by establishing a unit where risk knowledge and information are to the fore in decision-making processes, and by so doing ensure that risk management activities will mitigate the downside of unwanted risk while allowing the positive exploitation of risk and benefit from business opportunities.

The policy strengthens KUFPEC’s ability to develop an integrated view of risk and the means to handle risks with a comprehensive approach.