Shareprice

The Board as a whole takes responsibility for management of risk throughout the business. 

We believe that risk is best managed by a combination of the following:

  • Formal risk management processes as described below
  • The Board and senior management leading by example
  • Alignment through promoting colleague shareholding in Dunelm
  • Embedding our culture and values

Given the size of our Board and the relative lack of complexity in our business, we do not have a separate Board Risk Committee; our Audit and Risk Committee oversees the risk management process as part of its activities.

Risk Management Framework

Board

Collective responsibility for managing risk

  • Formal review of principal risks twice annually – one of which is in connection with consideration of the viability statement
  • Separate discussion of a key risk topic (‘what keeps us awake at night’)
  • Risk topics reviewed through regular timetabled presentations or papers
  • Monitors KPIs through Board reports
  • Executive Directors have line responsibility for managing specific risks

Audit and Risk Committee

Oversees risk management process

  • Receives report on risk management process twice annually
  • Formal review of principal risks twice annually – one of which is in connection with consideration of the viability statement
  • Allocates resources for independent assurance reviews of selected risks
  • Selects topics for ‘key risk’ reviews by the Board

Executive Board

Reviews principal risks

Members have responsibility for managing risk within their area of accountability

  • Formal review of principal risks twice annually
  • Reviews risk register once a year
  • Risk topics reviewed through regular timetabled presentations or papers
  • Monitors KPIs through Executive Board reports
  • Executive Board members have line responsibility for managing risk within their area of accountability