At Adevinta, we navigate a dynamic landscape that exposes the company to a myriad of risks through the growth of our business and the type of products and technologies used to provide best-in-class user experience to our customers.
We steer through this landscape with the guidance of our Enterprise Risk Management (ERM) framework. It is a crucial tool that helps senior management to make risk-informed decisions aligned with the organisation’s strategic objectives.
Our risk landscape is divided into three main categories:
Through comprehensive risk assessment processes, considering both Top-Down and Bottom-Up perspectives, our ERM framework enables us to identify and address the most significant risks that could impact the achievement of these objectives.
Our Board of Directors is responsible for the Adevinta ERM framework, and they delegate authority to our Audit and Risk Committee (ARC) to oversee risk management activities on their behalf. The bi-annual Top-Down risk assessment involves the Risk Team evaluating each principal risk (and related sub-risks) with their respective Risk Owners. The outcome of the assessments is presented to the Audit & Risk Committee (ARC), outlining the current risk exposure status and trends of each risk.
All leaders at all levels are responsible for risk management within their respective areas, driving a risk culture and ensuring that risks are identified, captured, and monitored as part of the risk assessment process. The Bottom-Up risk assessment process, performed once a year, helps the Adevinta Leadership team to identify and prioritise the operational risks that may prevent each vertical/ function from achieving its own objectives, impacting the strategic enablers.
Both the Top-Down and Bottom-Up assessments ensure continuous evaluation throughout the risk management cycle, proactively safeguarding our ability to achieve our objectives despite potential challenges.