Risk management

Risk Management

At Campbell Shipping, we fully understand that a successful organization is one that has the ability to identify and manage the risks associated with the business. Based on the global surveys, it is a known fact that companies in the top 20% of risk maturity actually generated three times the level of earnings as those in the bottom 20%. Organizations have limited resources and these need to be wisely used to manage risk; it is therefore essential to understand the risk universe under which a company operates. Risk management is therefore a core part of the corporate strategy.
The company can assist organizations with the following:

  • Establishing a robust and consistent risk management framework across various business units, i.e., fleet, technical management, commercial management, and human capital development.
  • Undertaking audits/safety and technical inspections
  • Undertaking on-board training with officers and crew

The risk management framework included the following:

  • Defining each business unit’s core objectives
  • Understanding various risks involved in achieving these objectives and establishing risk tolerance
  • Establishing control activities in managing risk
  • Ensuring relevant information is communicated at various levels of the organization both ashore and on board
  • Ensuring there is a framework to ascertain that control activities are effective and are taking place as they should (internal audit framework)
  • Ensuring incidents and near misses are used as an opportunity to further review and enhance the risk management framework
Risk Management Framework

The internal audits are an opportunity to verify compliance/effectiveness as well as an exercise to review existing control activities for any improvements. Audits and on-board training are two sides of the same coin. Crew are trained to perform their tasks and are then audited to ensure they perform tasks as per expectations. If there are any gaps identified in the audit process, the crew are trained once again as part of this continuous improvement cycle. Campbell Shipping can also assist clients in undertaking independent internal audits and on-board training. The company has a specific team of auditors/trainers covering both deck and engine discipline. Innovative software and on-board technology are used to undertake audits and report the findings to the management in real time. The audit report, based on scoring mechanism, provides analytical information to the management on areas requiring improvements.

The company can also assist clients in establishing key performance indicators (KPIs) for each business unit.