Own Qantas shares? Guess who just joined the race to be the next CEO As cancellations and delays threaten Qantas's reputation with customers and its budget faces challenging conditions, can the airline turn things around? Secure Your Legacy. We continue to learn through collaboration and shared experiences to make the system better. In the process, we aim to have a positive impact on the broader community and minimise our impact on the environment. Tino La Spina will move to the role of Chief Executive Officer of Qantas International on 1 October 2019, with Vanessa Hudson formally commencing as the Groups new Chief Financial Officer on the same date. Risk Management Policy - an overview | ScienceDirect Topics 4 0 obj 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 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. Our approach to risk management starts with our first priority: the safety of our customers and employees. Opens in a new window The Board of Directors receives a bi-annual Group Risk Report incorporating the Group Short Term (0-3 year) and Long Term (3-10 year) risk profiles, trends, risk interconnectivity and monitors the management of notable risks. Risk management is systematic, structured and timely. He is a member of the Institute of Chartered Accountants in England and Wales. "Bags aren't making aircraft on time. Annual reports The Annual Report contains key financial information about Qantas, as well as important operating and corporate information. Learn about our corporate governance framework which is designed to ensure the Group lives up to its obligations and commitments as it works to enhance shareholder value. Security Policy. A risk is anything that could potentially impact your project's timeline, performance or budget. Over 2016/2017 Qantas exceeded performance in sustainability benchmarking indices, from the last to first tier on the Macquarie Environment Social Governance (ESG) ratings, achieving CDP A List and CDP Supplier Climate Change A List and rated at a Leading level by the Australian Council of Superannuation Investors (ACSI). During the pandemic we made tough but necessary decisions to ensure that we survived and could recover quickly. Qantas staff fear the airline's stellar safety reputation is at risk as pressure from management mounts. An Engineering degree in Aeronautical, Mechanical, Electrical or equivalent. Compliance measures are used as a tool to address identified risks. Part of Wallace's remit will be to guide preparations for the company's "Project Sunrise," according to Qantas. Photo: Qantas News Room. Join Qantas Frequent Flyerorsubscribe to Red Email today. Likewise, the existing competitors are likely to intensify their competition to either increase their market share of maintain their competitor advantage. Key to this is responsible, ethical and sustainable business practices. BLUE STAR'S RISK MANAGEMENT FRAMEWORK The Company has adopted the Committee of Sponsoring Organizations of the Treadway Commission Opens in new window. "One incident I'm aware of, the ground handlers, they loaded the aircraft incorrectly," one employee said. Aviation has been at the forefront of the global business response to climate change, becoming the first industry to voluntarily commit to emission reduction targets as far out as 2050. ", A licensed engineer told ABC's Four Corners: "The planned work for the night, we used to get through it, what they planned for us almost every night. Qantas Reorgs Mgmt. Roles, Unveils New Premium Cabins PDF 2018 Qantas Voluntary Tax Transparency Code Report 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. Who's in the race to replace Alan Joyce as Qantas CEO? TheQantas Group Business Practices Document (PDF)provides an overview of our beliefs, values and business practices and highlights the standards to be upheld by all employees. New airlines entry in the industry and competition in the domestic market, Other Tools and Techniques Tool Identification Techniques. 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. Tinos current portfolio includes Group Finance, Group Procurement, Treasury, Investor Relations and Mergers and Acquisitions. 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. We provide high-quality papers covering a wide range of services. The national carrier has a proud history of stepping up in times of crisis and the Group will continue to work closely with the Federal Government to provide repatriation flights, support export industries, share medical aid with our neighbours. Opens in a new window Learn more about our Supply Chain Assurance Program (PDF). endstream endobj 149 0 obj <>/Metadata 17 0 R/Pages 146 0 R/StructTreeRoot 31 0 R/Type/Catalog>> endobj 150 0 obj <>/Font<>/ProcSet[/PDF/Text/ImageC]/XObject<>>>/Rotate 0/StructParents 0/TrimBox[0.0 0.0 841.89 595.276]/Type/Page>> endobj 151 0 obj <>stream Risks are assessed in accordance with the Qantas Group Risk Assessment Guide (QRAG). The group consists of: Jetstar Airways in Australia and New Zealand, wholly owned by the Qantas Group. Shareholders | ESG risk management - NAB Vancouver-based Uniglobe is also adding Canada's House of Travel to its membership. Remuneration Committee: Jacqueline Hey (Chair), Maxine Brenner, Michael L'Estrange and Todd Sampson. Management Committee and the Board of Directors, for the purpose of assessing the performance of the Qantas Group. Yet its own employees, and not just union officials, raised these concerns with Four Corners. This was on display when Qantas negotiated a new enterprise agreement with its long-haul pilots for Airbus 350 planes capable of ultra-long-range flights, direct from Australia to New York or London. Policies - Qantas Qantas has an enviable safety record, consistently ranked as either the safest airline in the world or not far from it. FY22 continued to present significant challenges for the Group as we navigated our recovery from the widespread impact of the global pandemic. The increase of increase is evident from the fact oil prices a prone to fluctuation all over the world(Sky News. Resistance to Qantas's proposal from the flight attendants and their association crumbled. Upgrade your web browser for an enhanced experience. Qantas was one of the first airlines to introduce an integrated Safety Management System in the 1990s, which we continue to evolve. Tony Lucas has been a pilot for 30 years, 27 of those with Qantas, and he has risen through the ranks to become a check and training captain. For consumer brands especially, protecting value is also about maintaining a social licence to operate. 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. The Qantas Group is announcing changes to its Group Management Committee, as the national carrier moves into a new phase of growth and renewal. OurWhistleblower Programis a key aspect of our approach to managing human rights, providing a confidential and accessible channel for individuals to raise matters of legitimate concern with us, so they can be addressed. Qantas provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age . We hold ourselves to high standards in everything we do and give others the information to evaluate our performance. The system is recognised globally by the industry as an example of best practice and forms the foundation of our risk management approach. Safety, Health, Environment and Security Committee: Antony Tyler (Chair), Alan Joyce, Belinda Hutchinson and Michael L'Estrange. During FY22 this included: The Business Integrity & Compliance team support the business on meeting the requirements of human rights related legislation, practices and standards, including through assessment of suppliers in our supply chain assurance program. Prior to joining the Qantas Group in 1999, Mr Evans held a number of corporate finance roles with Caltex Australia and KPMG in Australia and the UK. <>/Metadata 362 0 R/ViewerPreferences 363 0 R>> Earlier today, Qantas, Australia's flag carrier, said it expected to add 8,500 roles over the next decade, a move that it said represented a signal that the aviation industry was moving into a . The S&P/ASX 200 Index (ASX: XJO) airline stock closed yesterday trading for $6.28 per share. Our Business Integrity Compliance program is overseen by the Qantas Board, through the Qantas Audit Committee. Qantas is committed to respecting all internationally recognised human rights, as well as complying with national and certain international laws, we voluntarily commit to uphold the standards of theUN Guiding Principles on Business and Human Rights (UNGPs)Opens external site in a new window. The Audit Committee, at least annually, reviews Qantas Managements establishment and operation of an enterprise-wide risk management system. Bags are being loaded onto aircraft incorrectly. This includes aviation safety, WHS, environment, security (including cyber security) and business resilience matters. He has more than 35 years experience in the aviation industry across regional, domestic and international operations in both the premium and low cost carrier sectors. Tino has significant experience in the Transport industry in both Commercial and Financial roles having worked for a number of Airlines. Opens in a new window We're committed to reducing our emissions in line with the Paris Climate Agreement to limit warming to well below 2C above pre-industrial levels, and pursuing efforts to limit the temperature increase to 1.5C above pre-industrial levels. Book and Service View policies and guidelines Fares and Ticketing View policies and guidelines Changes, Reissues and Refunds View policies and guidelines Ticket Taxes, Fees and Charges View policies and guidelines Specific Needs View policies and guidelines Lesley Grant was appointed as Group Executive, People, Culture and Corporate Affairs from 1 November 2017 and previously held the positions of Chief Executive Officer, Qantas Loyalty from 2012 to 2017 and Group Executive Customer and Marketing. The Qantas Group has paid all taxes that it owes and all tax compliance obligations are up to date. A current ground staff member told ABC's Four Corners: "Anybody that thinks the outsource of the in-house ground handling is not a problem is delusional. He has over 35 years experience in aviation across a variety of roles, including six years as Chief Financial Officer for Qantas International and 12 years managing regional arm, QantasLink. Commercial experience with contract management Risk refers to the probability of an event and potential consequences, both positive and negative, to UNCG. Jetstar-branded carriers operate more than 5,000 flights a week to more than 85 destinations. Supplier Requirements. *Please note, applicants must have unrestricted working rights to live and work in the USA. "This investment can't be made at any cost and the flight crew cost base remains the last component of the overall business case which needs to be met," Qantas management told pilots in an email. The Qantas Group works with partners to make a positive impact in the community, address disadvantage and extend opportunity. Opens in new window, To read our CDP Climate Change disclosures, please visit the Using this risk-based approach, we may also deliver training to contractors, agents or persons who may act on our behalf. Consistent with the Groups consultative approach on this complex issue to date, we expect that as our operation resumes, that our dialogue with stakeholders will also resume. Many of our employees donate their time and skills to good causes. Qantas categorically rejects claims that its aircraft maintenance engineers are overworked or that there is a risk to safety. hR:)[%_f: -7Q&vj;gm ! q$u}^VQ PI He is a member of the ACC General Counsel Advisory Board, and ACC Australias GC100 and Advocacy Network. 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. Qantas makes no apologies. The Board has established Committees that are responsible for considering detailed issues and making recommendations to the Board. Risk Management Policy - Timaru District Council After COVID devastated aviation in 2020, Qantas announced it would retrench 1,700 ground staff at Australia's major airports. Risk management is a part of decision making. 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. It is intended to ensure a consistent approach to risk management throughout the university. Learn more aboutInclusion and Diversity. Read more hereOpens in new window "So, for that critical safety sensitive role, basically people are now being paid the same as if they worked in a fast-food outlet or worked at a supermarket. Nominations Committee: Richard Goyder (Chair), Jacqueline Hey, Belinda Hutchinson and Antony Tyler. How Singapore stacks up against Hong Kong in battle of Asia hubs The Qantas Sale Act requires the Constitution to contain specific provisions designed to reflect Qantas' position as Australias national carrier. Our Modern Slavery Statement,pursuant to the Australian Modern Slavery Act 2018 (Cth) (MSA) and s54(1) of the Modern Slavery Act 2015 (UK MSA) sets out the actions taken by the Qantas Group to assess and address modern slavery risks in our operations and supply chains. "What we have had to do over the years to be efficient to be able to compete in a very competitive in market," Mr Joyce told ABC's Four Corners, in answer to our questions at the Qantas group financial results briefing. The radical Qantas action smashed resistance to what has become a foundation of the airline's business model: to gradually replace, or threaten to replace, existing employees with outsourced labour, or hire new staff on lower pay and conditions hired through subsidiary companies Qantas creates or acquires. Unless they accepted Qantas's terms, it warned: "We will be left with no viable alternative but to have [the] flying performed by a new employment entity that can provide the cost base we need.". John Gissing was appointed as Group Executive, Associated Airlines and Services in March 2015. 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. Lesley is a Director of the Australian Brandenburg Orchestra since October 2015, a Director of Venues NSW since May 2017, a member of Chief Executive Women and was previously a Director of Taylor Fry Pty Ltd from 2015 to 2017, a Director of the Qantas Foundation from 2009 to 2017, and a non-executive director of UNICEF Australia from 2006 to 2015. From 2017/18, we will shift our reporting to open source disclosures, leveraging our Its constant refrain is that it does what it needs to do to meet its business objectives, compete in a tough market, and remain viable. We hedge fuel and foreign exchange to protect against material adverse movements not to beat market prices. "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. A summary of indicators can be found hereOpens in new window "We can't build enough experienced people doing the job more efficiently and safely, so we do jobs more slowly and haphazardly as people just don't know, they're still learning on the job. Olivia Wirth was appointed as Chief Executive Officer of Qantas Loyalty in February 2018. Risk management Observations. Financial risk management Risk Management Policy; 9. The Qantas Constitution (PDF) is Qantas' key governance document. The two TMCs officially came together on 1 January, 2023, after the larger Gattinoni Group (which also . Similarly, Qantas Airline is likely to suffer from the consequences of economic recession. Our commitment to strengthening business resilience and fostering a risk aware culture creates the foundation for sustainable performance and adaptability to respond to shifting market conditions. It can come with a hidden cost to morale. 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. 4.2 Risk management process The risk management system is dynamic and is designed to adapt to GTN's developments and any changes in the risk profile over time. "For workers, agreement termination is a threat that their remuneration, their working conditions fall off a cliff,"Professor McCrystal said. 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. As Chief Financial Officer his portfolio included Finance, Strategy, Treasury, IT, Procurement (including Fleet), Investor Relations, Mergers & Acquisitions and the Groups Business Transformation Program. Vanessa has a Bachelor of Business and was admitted as a Member of the Institute of Chartered Accountants in 1994. . Modern slavery including child labour / forced labour; Cyber security including data and credit card protection. CHESS also has oversight of risks associated with regulatory compliance. hbbd``b`z $@@}7"n \"A`IAD([RD @B +"b`` 1@ 3IX endstream endobj startxref 0 %%EOF 192 0 obj <>stream Program management and oversight is a University-wide responsibility that calls for the active involvement of executive . In doing so, we can ensure that our business is resilient in the transition towards a low carbon economy. This amendment provides the Group with an additional level of verification in line with our voluntary commitments under the UNGPs, while at the same time upholding our position that the Australian Government is best placed to make decisions on the legal status of people seeking asylum in Australia. Qantas told ABC's Four Cornerthat it "shows a safety management system that is working and designed to capture human error through multiple fail-safes". Join Qantas Frequent Flyerorsubscribe to Red Email today. 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. With the Groups international flying operations still well below pre-pandemic levels, the repatriation of deportees at the request of the Australian Government has been limited to a low number of Involuntary Deportees. He worked for a specialist, external labour-hire firm that supplies flight attendants to Qantas and a subsidiary company, QF Cabin Crew Australia, that Qantas set up to employ new international flight attendants. We hold ourselves to high standards in everything we do and give others the information to evaluate our performance. In line with the UNGPs, we engaged expert advisory consultants to lead the refresh of our salient human rights issues. 4.36 QFF follows the Qantas Group risk management practices, policies and procedures. 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 continually review the criteria we use to identify and assess supplier risk to ensure our methodology is reflective of the shifting global environment. The three principles that underpin this approach are: Every Qantas Group employee is a custodian of our reputation for excellence and integrity, with a responsibility to uphold the standards we set ourselves and the values we represent. He started this role in March 2015. PDF Group Risk Management Policy - May 2021 - Coca-Cola Hellenic Bottling Immediately prior to her appointment as Chief Customer Officer, Vanessa was the Executive Manager of Sales and Distribution with responsibility for the airlines revenue through all sales channels including key corporate and agency accounts. _^)%Ngx:(uC$[[$[[$[[$[[$[[$[[d"Ssmf_:'c[tlWzgpf J endstream endobj 37 0 obj <> endobj 38 0 obj <> endobj 39 0 obj <> endobj 40 0 obj <>stream xkS;3[f! Volatility is part of the Qantas Group's everyday operating environment, whether it's in the prices we pay for fuel, business and consumer confidence levels, weather patterns across our global network, or broader geopolitical events. hereOpens in new window The Risk Management Policy serves as a statement of the overall UNCG risk management goals and focus. Reconciliation Action Plan (RAP) Re-establishing key governance forums such as the Supply Chain Assurance Leadership Council and business-led supplier governance mechanisms and internal working groups. However, a Qantas spokesperson told Simple . ", A Qantas pilot told ABC's Four Corners: "When you mix a safety critical role with a threat of losing your job, then it really only ends in one way. Since its privatisation 30 years ago, it has been finding creative ways to cut labour costs. click here. Opens in a new window Alan Joyce has been Chief Executive Officer and Managing Director of Qantas since November 2008. The Group Policies apply to Qantas Group entities and employees in line with the Group's Corporate Governance . Cyber Security Policy; 5. Naren Kumar was appointed Acting CEO of Qantas International in April 2019. "We're expected to do basically the tasks that the Qantas ground services did, but with a lot less numbers and experience," said one worker from an outsourcedcompany used byQantas to manage ground-handling. 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. The Qantas Group announced its Chairman succession on 28 June 2018. 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. A third hat has been thrown into the ring in the race for a potential new boss of Qantas as Alan Joyce prepares to step down as chief executive by the end of the year.. Qantas hiring Duty Airport Manager, New York JFK in New York City Risk Management Policy Release Date December 11, 2014 Revision Date June 24, 2021 Issued by Risk Management Committee Supersedes Released dtd. Why Platinum, Qantas, Red 5, and Zip shares are dropping today endobj 2 0 obj Management of personal information Qantas Frequent Flyer 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. Definitions 1) Life insurance and pension programs are primarily managed by HR and Group Compensation & Benefits. On 1 May, Qantas announced changes to its executive team that will take effect on 1 October 2019. The Group undertook our first climate scenario analysis in 2019 in line with the recommendations of the TCFD. Mr Finch holds a Bachelor of Commerce, Bachelor of Laws from UNSW, a Master of Laws with First Class Honours from the University of Sydney, and a Master of Business Administration (Exec) from the AGSM. The global financial crisis will affect the international business operations of Qantas Airline. View the highlights from the latest and previous Full Year Results announcements. This service may include material from Agence France-Presse (AFP), APTN, Reuters, AAP, CNN and the BBC World Service which is copyright and cannot be reproduced. More broadly, with Hong Kong open and China's abandonment of its zero-Covid policy, the IMF has forecast Hong Kong to grow 3.9 per cent in 2023, faster than Singapore's 2.3 per cent. 1 . TMC network Uniglobe Travel has strengthened its presence in Europe by adding new members in the UK and Turkey. Risk management explicitly addresses uncertainty. Qantas Group - Manager Risk "I would say that the Australian domestic market is the most competitive in the world. SHOW MORE security and internal audit risk across the Qantas Group. Qantas hiring Risk Manager in Sydney, New South Wales, Australia | LinkedIn Since then, the Group has been working to implement these across the core elements of climate-related disclosures. "We're seeing them occur across multiple weeks, and ultimately that's where things start to increase in operational complexity. COVID-19 is the biggest challenge ever faced by global aviation and its impacts will be felt for some time.

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