Page 36 - 2009_2010_Annual_Report

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Risk Management
At SIGA, business risk is defined as the degree of exposure associated with the achievement of
key strategic, financial, organizational and process objectives in relation to the effectiveness and
efficiency of operations, the reliability of financial reporting, compliance with laws and regulations,
and the safeguarding of assets within an ethical organizational culture.
Principal risks and uncertainties that could affect SIGA’s future business results going forward is
of primary concern.
Risk Management Governance Structure
Although the SIGA Board is ultimately accountable for overseeing risk management within the
Authority as a whole, it has assigned responsibility to the Audit & Finance Committee to oversee
the Authority’s risk assessment and risk management processes. SIGA senior executives are
responsible for ensuring key business risks are identified, defined and prioritized. Executive risk
owners are engaged and charged with risk mitigation within limits established by the SIGA Board
of Directors. This data is complied in a corporate risk profile that is reported to the Audit &
Finance Committee on a quarterly basis. Results of the quarterly risk and control assessment are
incorporated into the development strategic planning process.