This policy outlines the expectations that the Council and University Executive have with respect to risk management, and to ensure management can demonstrate that risks in all parts of the University are being identified and managed in a way that is appropriate for the business environment and objectives. The Qantas Group adopts a proactive approach to enable identification, evaluation and effective management of the risks and opportunities that arise. Therefore, there is a risk for the reduction of the Qantas Airline domestic market. 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. Vancouver-based Uniglobe is also adding Canada's House of Travel to its membership. Qantas claims that its approach is "common across the industrial landscape"; it's less common to use a structure of subsidiaries and silo companies to achieve that goal. The respect of human rights is key to our business practices, and we proactively undertake ongoing human rights due diligence in our operations and across our supply chains. Olivia joined Qantas in 2009 and has held several positions, including the role of Chief Customer Officer, Group Executive, Brand, Marketing & Corporate Affairs and Group Executive for Government Relations and Corporate Affairs. "And, when you equated their hourly rates and conditions, one legacy crew, for example, would get you two Kiwis, three British or two Qantas Cabin Crew Australians," he said. Cyber Security Policy; 5. 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. If we identify material risks, we will work with suppliers to remove the risks where possible, and otherwise to substantially mitigate them. All our suppliers are required to comply with Qantas' Risk management explicitly addresses uncertainty. endobj It is intended to ensure a consistent approach to risk management throughout the university. As cancellations and delays threaten Qantas's reputation with customers and its budget faces challenging conditions, can the airline turn things around? Risk Management Policy; 9. The Australian Taxation Office (ATO) has advised that the Qantas Group is a key The Groups Business Integrity & Compliance function, reporting to the General Counsel and Group Executive, Office of the CEO, ensures that the Group is best positioned to respond to both the rapidly evolving regulatory environment and shifting societal expectations regarding corporate ethics. COVID-19 is the biggest challenge ever faced by global aviation and its impacts will be felt for some time. Prior to joining Qantas in 1996, Naren worked for Air Pacific (now Fiji Airways) for 12 years in various executive roles, including Chief Operating Officer. We have continued to contribute to industry initiatives to prevent human trafficking, including ongoing consultation on ICAO policy and IATA standards and practices. We have a responsibility not only to meet expanding foreign and domestic anti-bribery legislation, but also to ensure that our business partners and those in our supply chain operate with a consummate level of integrity. We're in the process of finalising plans for a new program that will see Qantas support and engage employees in contributing to charitable causes that reflect our community strategy. We were also told inexperience led to close calls, because it wasvital luggage and cargo be loaded onto planes correctly for the right weight distribution. Jetstar's community initiatives include Star Kids, which raises funds for World Vision, and Flying Start, which offers grants for charitable initiatives. I am the airline's first responder. |w`ltDs:a^#8RW~s>br|7b}qa.}70}z? ;|k@@]Cv"}{ nvpw$/:`BZyY/UD0|pu!Hwm8m ZcAD19G&`BsGW'T'g0C-)> Ou3 ze1-?d*MM1xy{kxdzM]y=p5o=Mf[3*>v#AM 3 0 obj click here. You'll facilitate risk workshops for strategic projects/initiatives and business as usual activities as required. Our sports and arts sponsorships are focused on supporting elite Australian talent and helping our national teams excel in global competitions. Resistance to Qantas's proposal from the flight attendants and their association crumbled. A $200 million investment in operational resilience delivered a significant improvement in operational performance for customers. Upgrade your web browser for an enhanced experience. The two TMCs officially came together on 1 January, 2023, after the larger Gattinoni Group (which also . It expresses our commitment to provide for, or co-operate in remediation in line with the guidance provided under the UNGPs where we identify we have caused or to which we may have contributed or be directly linked to harm. We define delivering today as holding ourselves to the highest standards in everything we do - and giving others the opportunity to evaluate our performance based on robust, publicly-available information. He has also been a press secretary and senior political adviser to various Australian political leaders and Ministers and worked as a journalist in newspapers and television in Australia, the US and UK. Its about taking actions now to ensure we can succeed and grow for the decades ahead: building value for our shareholders; creating great jobs for our people; providing world-class service for our customers; and making a positive impact on the environment and community. "As a result, we have a very high turnover rate that makes the already-bad situation even worse. Tip Sheets give additional guidance on specific topics: Policy and Procedure . During the pandemic we made tough but necessary decisions to ensure that we survived and could recover quickly. Commercial experience with contract management Our approach to risk management starts with our first priority: the safety of our customers and people. With a focus on continuous improvement, the Group is seeking to build on our established compliance program by investing in technological platforms that will support our management of business risks and meet the growing expectations of regulators worldwide. Thats how we create value for our stakeholders, opportunities for our people and world-class experiences for our customers. His work experience covers both full service and low cost carriers. and Acting Responsibly. Mr Finch has more than 25 years legal experience in Australia and overseas, joining the Qantas Group from the leading Australian practice of Allens, where he had been a partner specialising in mergers and acquisitions, equity capital markets and general corporate and governance advice. 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. Jetstar Asia Airways, based in Singapore and managed by Newstar Holdings, majority-owned by Singapore company Westbrook Investments (51 per cent . The Qantas Group adopts a proactive approach to enable identification, evaluation and effective management of the risks and opportunities that arise. Last year, Qantas proposed a new agreement to its international flight attendants that involved significant and deeply unpopular changes to rosters and other conditions. 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. We regularly review our risk triggers and due diligence processes to ensure they are reflective of changes in the global environment and are effectively designed to enable us to identify, prevent, mitigate and account for how we address modern slavery risk in our supply chain. Mr Gissing joined Qantas Airways in 1999 and holds an Air Transport Pilot Licence with 10,000 hours flying experience. m@oo!X7dKr\L:==U>KzurVUI:'7OSr/*X\o+]Ll(f~["[ g[nf8fe;C{:dw%,[$=.`_ vCU=oVVy6a+DrvkyN~/ p,F m+] Bc9 Opens in a new window Opens in new window. The Qantas Constitution (PDF) is Qantas' key governance document. The Group's executive management team is the Group Management Committee (GMC). Opens in a new window 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 Board adopted its Board Charter (PDF) on 1 September 2003. Today we apply the same systematic approach to all risk disciplines, not just aviation safety. <>/ExtGState<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 595.32 841.92] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> His current role includes these functions as well as shared services for safety, workforce planning and ground operations as well as Auckland based B737 operator Jetconnect. Prior to March 2010, Mr Evans roles with Qantas covered many areas including a number of senior financial roles within the Group, commercial and business analytics and the implementation of major business change initiatives; scheduling of the international and domestic network, ticket pricing, revenue management and airline operations on the day; as well as readiness activities for the arrival of the Airbus A380. Our Treasury Risk Management team takes a conservative approach to hedging, securing protection up to two years into the future and giving us time to respond to any longer-term changes in our operating environment. From 2018, we intend our climate change disclosures to align with the recommendations of the Taskforce on Climate-related Financial Disclosures (TCFD). Climate scenario analysis allows the Qantas Group to estimate how we are positioned to withstand different climate futures over the medium to long-term. It is designed to identify, assess, monitor and manage risk. Qantas Data Book 2017. Bags are being loaded onto aircraft incorrectly. He is also president of the Australian and International Pilots Association, a voluntary position he holds alongside his job at Qantas. Upgrade your web browser for an enhanced experience. 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. Matthew Allsop spent just shy of 16 years wearing the Qantas uniform and "flying under the Qantas tail but never actually worked for Qantas proper". Definitions 1) Life insurance and pension programs are primarily managed by HR and Group Compensation & Benefits. Qantas maintains a strong governance structure over its risk management activities. Policies Policies Find the information you need to service your customers with ease. With the right risk-management method, accompanied by diligent reviewing of your investments, we work to mitigate the risk to your retirement savings by minimizing exposure to market uncertainties and tempering the effects of inflation on your portfolio. In summary, the changes are: Andrew David, who is CEO of Qantas Domestic and International, will retire from the Group in September 2023. Prior to joining Qantas, Rob was a Partner with Bain & Company in Los Angeles and Sydney working across multiple industries, with an emphasis on media, technology and telecom businesses. On the other hand, it could suggest that skill and experience, an important layer of defence, has been eroded. The Qantas Group has paid all taxes that it owes and all tax compliance obligations are up to date. Talk to people in safety-critical roles in aviation, and it's often not long before conversation turns to the 'Swiss cheese model'. Following ongoing discussions with the Department of Home Affairs about the repatriation of deportees who have not been granted asylum by the Australian Government, the Department has updated its Persons in Custody (PIC) form so that airlines are advised whether an individual has outstanding proceedings before a court or tribunal prior to international transportation. The S&P/ASX 200 Index (ASX: XJO) airline stock closed yesterday trading for $6.28 per share. . 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. Safety and Health Policy; and 10. If you don't comply with what we want, we'll find someone else that will.". All of this gives us confidence as we invest for growth and future success. and Audit Committee, review Qantas Management's establishment and operation (within the risk appetite set by the Board) of an enterprise-wide operational risk management system which is designed to identify, assess, monitor and manage operational risk throughout the Qantas Group in relation to safety, health, environment, security and We recognise our responsibility to respect human rights by taking steps to avoid negative impacts on people and the planet from our activities, and by making positive impacts where we can. This will have negative impacts on the company profits and may also be an opportunity for the competitors to thrive. 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. )urWubOrG@jSaGL3TQVQd; zt LR*E%p5s0"{a6z ,6(}`uh9!>_F#>U jyYdQ'n'TR6E]Mh"R(g&KLytK)i[yjMi%\RoJERtpzMnin7}xgeI: /&'!GmU0yDfT2!E'rP[V&HMs`%P,R!N&32&i>&B*E* Qantas responded by applying to have their existing enterprise agreement terminated and push the employees back to the bare-bones-award safety net, with significantly lower pay and benefits. Secondly, the increasing the cost of maintain the company employees may increase because of the trade unions and employment agencies that calls for the protection of the workers rights(The Conversation , 2015). The regular refresh of our saliency assessment is critical in helping us prioritise the human rights issues which are, or have the potential to cause, the most harm, and enables us to manage the key risks to people and to the business. 3. 2. Yet its own employees, and not just union officials, raised these concerns with Four Corners. The Qantas Group is committed to implementing policies and procedures that meet our moral and ethical obligation to end Modern Slavery. "Unfortunately, that has been usedas a threat to the pilots. Since operationalising our Supply Chain Assurance program weve continued to assess how we interpret and respond to risk. 2017 Annual Review. e9 VHh_>&4BRP#U"1R1n'Fhcd6b!T"8l bH,Qp/'r{HrNjGCu9w;L;:9zuYvO}b{=sYuO66q,-]j|gwN]u&w94~97>cdbo[Auv_(:3yeo];2BiQS1\.zE?ztfn~BqY^TY.I3NGm?;.EDMg]6"eO2(&,Kz\:Gb^0pTeTCy+zMo=a"}L)&4fTRE5aa=I: /zw8X4-&gl .NG_on|pINR:dN>8!Wl\lV%}m$9iC'YlyUX. xkS;3[f! Opens in new window. The role of CEO of Qantas Domestic and [] Read more In that time, weve seen massive economic and technological advances and responded by transforming and adapting our business, setting milestones for the aviation industry along the way. OurModern Slavery Statement (PDF)outlines in detail the measures the Group had to take to ensure its survival, including the potential human rights impacts, on our people, operations and supply chain. 2 0 obj "For workers, agreement termination is a threat that their remuneration, their working conditions fall off a cliff,"Professor McCrystal said. Opens in a new window Remuneration Committee: Jacqueline Hey (Chair), Maxine Brenner, Michael L'Estrange and Todd Sampson. Oversight is maintained through the assurance activity of Qantas Group Audit & Risk, and ultimately the Audit Committee. Qantas provide an opportunity for the maximum number of shareholders to attend an Annual General Meeting (AGM). A summary of indicators can be found hereOpens in new window If there is a fire, I'm required to run towards it. ", Another observed: "I feel like the staff have been beaten down. "We're working longer hours. click here. The Civil Aviation Safety Authority has endorsed multiple safety and risk management systems at Qantas, and no-one is suggesting there is currently any systemic risk. And, above all, achieve the highest standards of safety and integrity. 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. He is a member of the Institute of Chartered Accountants in England and Wales. 2008/09 Qantas Data Book . Qantas maintains it has excellent relations with what the chief executivecalls "our people". The Qantas Group works with partners to make a positive impact in the community, address disadvantage and extend opportunity. We're playing an active role in setting and meeting these ambitious targets, and were guided by a simple philosophy: measure, reduce, offset and influence. "Any one of those things on their ownisn't a big deal to deal with, but when you start adding them up all together, across multiple flights, that starts to become a concern for safety.". The Qantas Groups approach to doing this rests on three pillars: Looking Ahead, Delivering Today, and Acting Responsibly. On 1 May, Qantas announced changes to its executive team that will take effect on 1 October 2019. "One incident I'm aware of, the ground handlers, they loaded the aircraft incorrectly," one employee said. As a result, we have emerged from the pandemic a stronger and more resilient company. It can come with a hidden cost to morale. Upgrade my browser. Supplier Requirements. 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. The Audit Committee undertakes the functions of a risk committee as set out in the ASX Corporate Governance Principles. With a lower Australian dollar, inbound and domestic tourism are growing faster than at any time since the Sydney Olympics in 2000 - a crucial input into the future development of the Australian economy. We hedge fuel and foreign exchange to protect against material adverse movements not to beat market prices. Our Board of Directors combines deep experience and diverse perspectives to ensure we're delivering against our strategy and meeting our responsibilities to investors and other stakeholders. Opens in new window. Opens in new window HWMq\~U. It's been prepared to take really destructive decisions in pursuit of the bottom line.". The Whistleblower Policy [PDF]outlines the operation of the Qantas Whistleblower program including what qualifies as a Disclosable Matter, detail regarding how Qualifying Disclosures can be made, who qualifies as a Disclosing Person and who the Eligible Recipients for Qualifying Disclosures are. Jetstar-branded carriers operate more than 5,000 flights a week to more than 85 destinations. "In terms of pilots, of the things that Qantas has done very successfully, because the law allows them to, is that they've acquired or set up subsidiary airline groups," Mr Lucas said. making it easier for people to formally report workplace bullying and harassment; improving the inclusiveness of organisational culture; and. A key test is whether participating in these external initiatives complements and extends our own reporting in a meaningful way. Joining Qantas in 1994 she has held a variety of senior commercial, customer and finance roles across the Group, both onshore and overseas. In FY22, we updated this analysis to reference updated climate data, developments in the business, progress in technology and fuel availability as well as regulatory changes. Nearly every student wishes to succeed in his or her future career, and it is inseparably linked to your competence in research paper writing. We set mandatory requirements to manage and protect the health and wellbeing of our employees and contractors governed by the Our Requirements for Health standard and our mandatory minimum performance requirements for risk management, as well as local regulatory requirements, standards and procedures. The global nature of our business means that we interact with government and their agencies across the regions and countries in which we operate. The Qantas Group encourages Disclosing Persons who have reasonable grounds to suspect a Disclosable Matter to make a disclosure via the following channels, by: Further information about how to make a disclosure, and additional Eligible Recipients is available in the Policy. The entry of the new players in the industry will increase the competition and this negatively affect the Qantas Airline profit. He is a Fellow of the Royal Aeronautical Society and the Australian Academy of Technological Sciences and Engineering and holds a Bachelor of Science in Applied Science (Physics and Mathematics) (Honours) and a Master of Science in Management Science. Implementing human trafficking training for our aircrew to support identification of, and responses to, suspected instances of trafficking. 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. To find out more about our hedging policy and treasury risk management, see our The Qantas Group is announcing changes to its Group Management Committee, as the national carrier moves into a new phase of growth and renewal. Third, any lucrative business will attract new competitors. People are the core of our business, and our commitment to respect human rights, which includes labour rights, starts in our own operations. He has been involved in start-ups, mergers, acquisitions and major change programs. We hold ourselves to high standards in everything we do and give others the information to evaluate our performance. 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 group risk management policy