qantas group risk management policy

The UQ Policy Handbook is to assist UQ staff developing policies and procedures. In disclosing our financial performance, we comply fully with ASIC regulations, ASX rules and broader global reporting standards. The national carrier has a proud history of stepping up in times of crisis and the Group will continue to work closely with the Federal Government to provide repatriation flights, support export industries, share medical aid with our neighbours. We have seen airlines like Virgin like Rex come into the market and start up from scratch and the national carrier to survive has to have adapted to it. Risks are potentialities, and in a project management context, if they become realities, they then become classified as "issues" that must be addressed with a risk response plan. Today we apply the same systematic approach to all risk disciplines, not just aviation safety. Strengthening our Code of Conduct and Ethics and Business Practices Document to communicate our human rights commitments and responsibilities, including explicitly prohibiting child labour and forced, bonded or compulsory labour or any other form of modern slavery in our operations and supply chains. Many of our employees donate their time and skills to good causes. "This investment can't be made at any cost and the flight crew cost base remains the last component of the overall business case which needs to be met," Qantas management told pilots in an email. CHESS also has oversight of risks associated with regulatory compliance. Environment Policy; 6. He was Chairman of the International Air Transport Association between July 2012 and June 2013. We continue to learn through collaboration and shared experiences to make the system better. The Group reported a $1.43 billion Underlying Profit Before Tax and Statutory Profit After Tax was $1.0 billion. Third, any lucrative business will attract new competitors. March 17, 2020 . A $200 million investment in operational resilience delivered a significant improvement in operational performance for customers. The role of CEO of Qantas Domestic and [] Read more As Qantas was betting, the resulting economic damage led the government to intervene and send the dispute to arbitration before the Fair Work Commission, which threw out job security claims being pursued by unions and employees. The Qantas Group adopts a proactive approach to enable identification, evaluation and effective management of the risks and opportunities that arise. We continually review the criteria we use to identify and assess supplier risk to ensure our methodology is reflective of the shifting global environment. The Qantas Group is committed to ensuring the protection of all Disclosing Persons, information regarding the investigation process and the protections available to Disclosing Persons is available in the Policy. Policies Policies Find the information you need to service your customers with ease. Mr Finch holds a Bachelor of Commerce, Bachelor of Laws from UNSW, a Master of Laws with First Class Honours from the University of Sydney, and a Master of Business Administration (Exec) from the AGSM. Opens in new window. "One incident I'm aware of, the ground handlers, they loaded the aircraft incorrectly," one employee said. SHOW MORE "But what we're seeing at the moment, we're seeing them occur multiple times in the day. But in the aviation chaos of the past few months amid huge numbers of delayed flights, cancelled flights, and after the loss of experienced staff employees have told us about their fears that the stellar reputation of the airline they love could be undermined. Yet its own employees, and not just union officials, raised these concerns with Four Corners. "As a result, we have a very high turnover rate that makes the already-bad situation even worse. Qantas is often referred to as a "legacy airline", which is code for an airline that came out of public ownership with generous pay and conditions compared tonewer competitors. From 1 October 2019, Vanessa Hudson will formally commence the role of Qantas Group Chief Financial Officer, following the appointment of current Chief Financial Officer, Tino La Spina to Chief Executive Officer of Qantas International. Our anti-bribery and corruption risk assessment program is being progressively launched across our business. Before Qantas, Andrew was Senior Vice President Public, International, Industry, Environment Affairs at Emirates, based in Dubai. And it was only realised it was done the wrong way just before the cargo hold was supposed to be closed.". Opens in a new window Supplier Requirements. However, some employees Four Corners spoke to worried that, amid outsourcing and loss of experience, and cost-cutting and chaos at airports, the layers of defence had thinned. View the highlights from the latest and previous Investor Days as well as the accompanying Australian Stock Exchange (ASX) releases and webcasts. "We're expected to do basically the tasks that the Qantas ground services did, but with a lot less numbers and experience," said one worker from an outsourcedcompany used byQantas to manage ground-handling. I am the airline's first responder. Upgrade your web browser for an enhanced experience. Qantas was one of the first airlines to introduce an integrated Safety Management System in the 1990s, which we continue to evolve. Board Charter View PDF Audit Committee Charter View PDF Compliance, Safety & Responsible Gaming Committee Charter View PDF Risk Management Committee Charter View PDF ESG Risk Management We're always working to improve the way we deal with environmental, social and governance risk. Tino commenced his career in professional firms, including Ernst & Young, where he held Tax Accounting and Audit positions in Australia and the UK. He is careful not to overstate safety concerns but acknowledges risks have grown. "I don't work for a tea and coffee company. This process is designed to identify, assess, monitor and manage all business risks, including strategic, operational, financial, and compliance risk. We are committed to achieving world class environmental performance in all aspects of our business, reducing our emissions footprint, and contributing to the growth of a low-carbon economy. Where we identify an adverse impact that we may have caused, contributed to or be directly linked, we adopt a consultative and measured approach to identify appropriate response options and take action consistent with the guidance provided under the UNGPs. The Group also supported critical government missions to repatriate Australians escaping civil unrest in Afghanistan, with 16 flights between Dubai and Australia. Under the Qantas Group COVID-19 Vaccination Policyall Australia-based new employees of a Qantas Group entity must be fully vaccinated with an Approved COVID-19 Vaccine and provide Evidence. This policy establishes the framework for a formal risk management program by designating responsibility for risk identification and analysis, planning for risk mitigation, and outlining program management and oversight. Qantas' new first-class cabin will debut on Airbus A350 service to New York and London in late 2025. Credit: Qantas. From 2018, we intend our climate change disclosures to align with the recommendations of the Taskforce on Climate-related Financial Disclosures (TCFD). Opens in new window, To read our Supplier Requirements and find out more about our supply chain, Over six years he helped grow the airlines network across six continents. Opens in new window. The three principles that underpin this approach are: Every Qantas Group employee is a custodian of our reputation for excellence and integrity, with a responsibility to uphold the standards we set ourselves and the values we represent. The Qantas Group is committed to implementing policies and procedures that meet our moral and ethical obligation to end Modern Slavery. We hold ourselves to high standards in everything we do and give others the information to evaluate our performance. However, a Qantas spokesperson told Simple . Over 2016/2017 Qantas exceeded performance in sustainability benchmarking indices, from the last to first tier on the Macquarie Environment Social Governance (ESG) ratings, achieving CDP A List and CDP Supplier Climate Change A List and rated at a Leading level by the Australian Council of Superannuation Investors (ACSI). They are: Our success as a business and our approach to corporate citizenship starts with the custodians of our brand - our people. xkS;3[f! The CHESS has responsibility for strategy, policy, systems oversight, monitoring and corporate governance over operational risks of the Qantas Group. As Chief Financial Officer his portfolio included Finance, Strategy, Treasury, IT, Procurement (including Fleet), Investor Relations, Mergers & Acquisitions and the Groups Business Transformation Program. An important element of this is to ensure we continue to refine the findings of our climate scenario analysis and incorporate them into strategy and planning decisions. He recalls how, on some flights, he would work alongside staff from a UK Qantas subsidiary, a New Zealand Qantas subsidiary and legacy staff, on different pay and conditions. More detail, including the key risk findings and disclosure against the TCFD recommendations framework, is set out in our 2022 Sustainability ReportOpens external site in a new window. The airline announced on . However, it saysit requires fewer engineers than it had pre-COVID because maintenance requirements are much lower, with its 747-fleet retired and international capacity down. security and internal audit risk across the Qantas Group. We recognise that corruption has a negative social, economic, political and anti-competitive impact wherever it occurs. We're committed to reducing our emissions in line with the Paris Climate Agreement to limit warming to well below 2C above pre-industrial levels, and pursuing efforts to limit the temperature increase to 1.5C above pre-industrial levels. In the process, we aim to have a positive impact on the broader community and minimise our impact on the environment. During the pandemic we made tough but necessary decisions to ensure that we survived and could recover quickly. View the highlights from the latest and previous Full Year Results announcements. Under his leadership Qantas has implemented its biggest transformation since privatisation in 1995, renewed its fleet and technology, lifted customer satisfaction to record levels and expanded with new ventures and partnerships. A mistake will be made, there will be an incident, and I believe that Qantas management are underestimating the impact of their behaviour. On the other hand, it could suggest that skill and experience, an important layer of defence, has been eroded. Aviation has been at the forefront of the global business response to climate change, becoming the first industry to voluntarily commit to emission reduction targets as far out as 2050. The Group acknowledges the complexity of immigration issues and respects that there are various views in the community and amongst shareholders about Australias immigration policy. Insiders have told us how this strategy has backfired spectacularly. Similarly, Qantas Airline is likely to suffer from the consequences of economic recession. hb```a``f`e`.Ugb@ !+sLt``0\)1`K%A , OH8H#?Dl'7Np`2fr@S)A4)Ah3S[+.w`gL\Nf 2 ^! Especially the staff that we deal with on a day-to-day basis around aeroplanes, ground staff, check-in staff. Last year, Qantas proposed a new agreement to its international flight attendants that involved significant and deeply unpopular changes to rosters and other conditions. He was also a key architect in the Qantas Emirates alliance that launched in 2013. We have established systems and processes to ensure our suppliers (or the partners we work with) prioritise safety and sustainability in the same way we do. has shaped our commitment to create work and training opportunities for Aboriginal and Torres Strait Islander people, build Indigenous supply chains and tell the stories of the First Australians. In line with the guidance of the UNGPs, the issues were identified applying the lens of the risk of harm to people, and the severity assessed based on the scale, scope and irremediability of each impact. Our sophisticated risk assessment utilises known bribery and corruption risk indicators and incorporates the Groups established risk assessment procedures to identify potential risk and, where required, to introduce adequate controls to mitigate that risk. endobj This may lead to the closure of some of its international business segments. Andrew is a board member of the peak advocacy group for airlines in the region - Airlines for Australia New Zealand (A4ANZ) and is also a member of the IATA Industry Affairs Committee and an Advisory Board Member of the Tourism & Transport Forum. Modern slavery including child labour / forced labour; Cyber security including data and credit card protection. Close to 98 per cent of its staff voted the agreement down. Security Policy. Join Qantas Frequent Flyerorsubscribe to Red Email today. The Qantas Group entered the crisis in better shape than most airlines. endstream endobj 149 0 obj <>/Metadata 17 0 R/Pages 146 0 R/StructTreeRoot 31 0 R/Type/Catalog>> endobj 150 0 obj <>/Font<>/ProcSet[/PDF/Text/ImageC]/XObject<>>>/Rotate 0/StructParents 0/TrimBox[0.0 0.0 841.89 595.276]/Type/Page>> endobj 151 0 obj <>stream Lesley Grant was appointed as Group Executive, People, Culture and Corporate Affairs from 1 November 2017 and previously held the positions of Chief Executive Officer, Qantas Loyalty from 2012 to 2017 and Group Executive Customer and Marketing. Gareth Evans was appointed CEO Jetstar Group in November 2017. k_'J+BpphOjtH`w=KBfvFl'`' m8d 4=lY1843VW\%zHg^@{yKwco4`PYd9_ In demonstration of our commitment to evolving our approach to human rights, we have collaborated with customers, suppliers, investors and civil society representatives to better understand their perspectives on the role of the aviation industry in respecting human rights, and to share our insights. Qantas has made several changes to its management team - including a contender to replace CEO Alan Joyce following rumours about a possible retirement at the end of this year. In plain English, Qantas would find a new company to hire other pilots to do the work. We do this by mitigating unconscious bias and improving access to flexibility, talent programs and dedicated leadership development. Qantas told us it "grandfathers" older conditions for long-serving employees "from a different era of aviation",enabling Qantas to become more competitive over time. Unless they accepted Qantas's terms, it warned: "We will be left with no viable alternative but to have [the] flying performed by a new employment entity that can provide the cost base we need.". While the new FRMS allows for flights in excess of the current 20-hour ceiling, Project Sunrise flights will still need to be approved on a route by route basis. Storms threaten north-east United States after tearing through the south, leaving 10 dead, Canberra coach Ricky Stuart slams NRL, RLPA following further concussion controversy, 'How dare they': Possum Magic author hits out at 'ridiculous' Roald Dahl edits, 'Dastardly and heinous crime': Philippines governor killed at home by unknown gunmen, Vanuatu hit by two cyclones and twin earthquakes in two days, Emily was studying law when she had to go to court. Andrew manages the Groups government, industry, public policy, regulatory, environment and international affairs worldwide. Opens in new window. Risks do not exist in isolation from other . _W+ "For workers, agreement termination is a threat that their remuneration, their working conditions fall off a cliff,"Professor McCrystal said. Tino La Spina will move to the role of Chief Executive Officer of Qantas International on 1 October 2019, with Vanessa Hudson formally commencing as the Groups new Chief Financial Officer on the same date. Our Group training matrix identifies those employees who, due to the nature of their role, are required to complete anti-bribery and competition law training. Some staff we spoke to worried that what they view as the nickel-and-diming of staff is approaching a point where it could affect safety. You are . The Australian Taxation Office (ATO) has advised that the Qantas Group is a key click here. "For pilots, job security is everything," he said. On 1 May, Qantas announced changes to its executive team that will take effect on 1 October 2019. Its constant refrain is that it does what it needs to do to meet its business objectives, compete in a tough market, and remain viable. Part of Wallace's remit will be to guide preparations for the company's "Project Sunrise," according to Qantas. Jetstar's community initiatives include Star Kids, which raises funds for World Vision, and Flying Start, which offers grants for charitable initiatives. Commercial experience with contract management Our Code of Conduct and Ethics and our Group Business Practices document outlines the obligations of our employees, contractors and those we do business with in relation to anti-bribery and corruption, and together with guidance from global regulators, collectively form our anti-bribery and corruption compliance program. More broadly, with Hong Kong open and China's abandonment of its zero-Covid policy, the IMF has forecast Hong Kong to grow 3.9 per cent in 2023, faster than Singapore's 2.3 per cent. Tax risk management is governed by both the Qantas Group Risk Management Policy and the Qantas Group Tax Risk Management Policy, ensuring corporate governance obligations with respect to tax risks are met. Group Finance Policy; 7. Our Business Integrity Compliance program is overseen by the Qantas Board, through the Qantas Audit Committee. John Gissing was appointed as Group Executive, Associated Airlines and Services in March 2015. Qantas makes no apologies. Our Group Financial Framework - introduced in 2015 - aligns our strategy and key performance metrics with long-term shareholder goals, enabling consistent, year-on-year comparisons. The group consists of: Jetstar Airways in Australia and New Zealand, wholly owned by the Qantas Group. "I totally enjoyed my time with Qantas," he said. Stephanie Tully was appointed Chief Customer Officer in August 2019, following a 15-year career at the Qantas Group spanning operational, commercial, customer experience, marketing and strategy roles across the airline and loyalty businesses. and Acting Responsibly. If we identify material risks, we will work with suppliers to remove the risks where possible, and otherwise to substantially mitigate them. On 1 May, Qantas announced changes to its executive team that will take effect on 1 October 2019. . For Qantas, these partners include Make-A-Wish Australia, the National Australia Day Council, Sydney Gay & Lesbian Mardi Gras, UNICEF Australia, the Great Barrier Reef Foundation and Oz Harvest. Risk Management Policy Release Date December 11, 2014 Revision Date June 24, 2021 Issued by Risk Management Committee Supersedes Released dtd. A key test is whether participating in these external initiatives complements and extends our own reporting in a meaningful way. Qantas staff fear the airline's stellar safety reputation is at risk as pressure from management mounts. 4 0 obj The latest FRMS was given the thumbs up by Australia's aviation safety regulator, CASA, following a 12-month trial. I couldn't have scripted a better career.". Nearly every student wishes to succeed in his or her future career, and it is inseparably linked to your competence in research paper writing. Learn about our corporate governance framework which is designed to ensure the Group lives up to its obligations and commitments as it works to enhance shareholder value. Management Committee and the Board of Directors, for the purpose of assessing the performance of the Qantas Group. CDP website. Our approach Responsible lending Our credit policies incorporate consideration of ESG risk, regulatory requirements and voluntary commitments. We support that growth through tourism marketing partnerships with the Australian and state governments, and our own extensive marketing and media strategy. Qantas maintains a strong governance structure over its risk management activities. Our approach to risk management starts with our first priority: the safety of our customers and people. Naren Kumar was appointed Acting CEO of Qantas International in April 2019. click here. It outsourced the work to contractors, anticipating savings of a hundred million dollars a year. Definitions 1) Life insurance and pension programs are primarily managed by HR and Group Compensation & Benefits. The Group aims to ensure a safe and fair working environment for our people and we also recognise the rights of our employees to freedom of association with unions and collective bargaining. Qantas Airways Limited shares are up 1.5% in Tuesday trading as we head into the lunch hour. COVID-19 is the biggest challenge ever faced by global aviation and its impacts will be felt for some time. Photo: Qantas News Room. She holds a Bachelor of Commerce (Honours) from the University of Melbourne and is an alumnus of Harvards Leadership Finance Program.

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