Risk Management

The risks faced by Schiphol Group can be of a strategic, operational or financial nature, or may be related to compliance with laws and regulations. A uniform policy has been developed to manage these risks. Risk management is an integral part of our business operations.

Our policy is based on the following philosophy:

• The Management Board and management are responsible for developing and testing risk management and internal control systems. These systems have been designed to identify significant risks, monitor the achievement of targets and ensure compliance with relevant laws and regulations;
• Effective risk management and internal monitoring systems will reduce the likelihood of errors, wrong decisions and surprises due to unforeseen circumstances;
• A healthy business must take risks. The Management Board bears ultimate responsibility for determining the maximum acceptable level of risk (‘risk acceptance’).

The management has identified the risks that may affect the achievement of Schiphol Group’s objectives as thoroughly as possible. This analysis produced a list of 17 risks, which has not changed since the 2010 Annual Report.