1. Introduction
The purpose of this policy is to establish a structured approach for identifying, assessing, and managing risks that could affect Position One Motor Company’s operations, assets, employees, customers, reputation, and legal obligations. This policy is a key component of the company’s strategic and operational planning, ensuring long-term sustainability and growth.

2. Scope
This policy applies to all areas of Position One Motor Company’s operations, including vehicle procurement, sales, maintenance, customer service, and administrative functions. All employees, management, and stakeholders are expected to comply with this policy.

3. Policy Statement
Position One Motor Company is committed to a proactive risk management approach that minimises potential threats and maximises opportunities. A structured, continuous risk management process is essential for achieving the company’s objectives and ensuring customer satisfaction and safety.

4. Risk Management Framework
The risk management process at Position One Motor Company includes the following key stages:

  • Risk Identification: Identify all potential risks that could impact the company, including operational, financial, legal, and reputational risks.
  • Risk Analysis: Assess the likelihood and potential impact of identified risks, categorising them as low, medium, or high.
  • Risk Evaluation: Determine the level of risk the company is willing to accept and prioritise the risks that need to be addressed.
  • Risk Treatment: Develop and implement strategies to mitigate, transfer, avoid, or accept risks. This may include operational adjustments, insurance coverage, staff training, or contingency planning.
  • Monitoring and Review: Continuously monitor and evaluate the risk landscape and the effectiveness of risk management strategies to adapt to new challenges and opportunities.

5. Roles and Responsibilities

  • Senior Management: Ensure the risk management policy aligns with company objectives, provide necessary resources, and foster a risk-aware culture.
  • Risk Manager/Coordinator: Oversee the implementation of the risk management process, coordinate risk assessments, and report to senior management.
  • Department Heads: Identify and manage risks within their respective areas, ensuring employees are trained and informed about relevant risks and mitigation strategies.
  • Employees: Follow risk management procedures and report any identified risks or incidents to their supervisors or the risk manager.

6. Training and Communication
All employees will receive training on the risk management policy and procedures. Regular updates will be communicated to ensure staff are aware of any changes or improvements in risk management strategies.

7. Policy Review and Improvement
This policy will be reviewed annually or in response to significant business or external changes. Feedback from employees, customers, and stakeholders will be considered to enhance the risk management process.

8. Conclusion
By implementing an effective risk management strategy, Position One Motor Company aims to protect its assets, employees, and customers while maintaining its reputation for excellence and reliability in the automotive industry.

Last amended: 03/03/2025