Enterprise Risk Management
TRL Krosaki continued to prioritize robust risk management practices to safeguard its operations and ensure business continuity. Our risk management framework is aligned with the ISO 31000:2018 guidelines for Enterprise Risk Management, ISO/IEC 27001:2022 standard for Information Security Management System & ISO 22301:2019 standard for Business Continuity Management System, which serve as the foundation for our threat and risk assessment processes.
Key Initiatives and Achievements
Threat and Risk Assessment (TRA)
We conducted comprehensive threat and risk assessments to identify and evaluate potential threats to our critical processes. This exercise, guided by our Business Impact Analysis (BIA), enabled us to implement appropriate measures to prevent or mitigate disruptions from both internal and external risk events.
Enterprise Risk Management (ERM) E-Learning Course
To enhance risk awareness and preparedness among our employees, we launched an ERM e-learning course in November 2024. By March 2025, all officers had successfully completed the course, ensuring widespread understanding of risk management principles across the organization.
ISO 31000 Audit
In July 2024 and September 2024, we underwent Stage-1 and Stage-2 Audit respectively for ISO 31000:2018 conducted by BSI. This audit focused on our enterprise risk management practices for the development, manufacture, and service of refractory materials for iron, steel, aluminium, copper and ceramics refractory plants and related activities.
PRISM
In March 2024 TRL Krosaki made significant strides in enhancing its risk management capabilities through the implementation of PRISM (Process for Risk Identification, Strategy & Mitigation) tool. This centralized risk repository has empowered our teams to effectively manage and mitigate risks, fostering a culture of continuous improvement and risk awareness. The PRISM platform, with its comprehensive modules and user-friendly interface, has become an integral part of our enterprise risk management framework.
Risk Sensing
In FY 2024-25, TRL Krosaki successfully implemented the Risk Sensing initiative, which focuses on monitoring and categorizing emerging risks across various landscapes. This initiative has enabled the organization to assess the short- and long-term impacts of these risk events, ensuring proactive risk management. By leveraging advanced analytics and data from multiple sources, Risk Sensing has provided valuable insights into potential threats, allowing TRL Krosaki to stay ahead of risks and maintain business continuity.
Business Continuity Measures
We emphasized the importance of incorporating business continuity countermeasures at the early stages of system design. This proactive approach has proven to be cost-effective and efficient in mitigating risks.
Collaboration and Training
Our risk management efforts were supported by continuous collaboration between all Business Functions. Regular training sessions and workshops were conducted to keep our employees informed and prepared for potential risks. Through these initiatives, TRL Krosaki has strengthened its risk management framework, ensuring resilience and continuity in our operations. We remain committed to identifying, assessing, and mitigating risks to protect our stakeholders and achieve our strategic objectives on a continuous basis.
