ESG Governance Platform
ESG • Compliance • Supply Chain Risk
As a provider of software solutions, Riskonnect makes limited use of raw materials in the development of our products. Regardless, Riskonnect regularly seeks opportunities to reduce the environmental impact of our facilities, technology, and cloud infrastructure hosting services among other areas of the business.
Pollution, Waste & Carbon Footprint: Given the asset-light nature of our business, Riskonnect encourages our employees to minimize travel and employ virtual meeting tools.
Riskonnect has a limited supply chain consisting mainly of human resources, along with software platform and hosting/infrastructure providers.
- Riskonnect regularly reviews opportunities for retention, education, training, and work/life balance of employees and reviews the sociopolitical impact of countries where Riskonnect team members are based.
- Riskonnect maintains redundancy within our hosting and infrastructure and wherever possible uses third-party, cloud-based hosting infrastructure service providers to take advantage of their ESG programs and reduce operational risk.
- Riskonnect team members and our hosting infrastructure vendors are spread across selected locations in several different geographies which diversify our business input risks.
Technology Strategy: As an integrated suite platform provider, Riskonnect provides a cloud-native solution for risk management systems that allows customers to consolidate their use of multiple cloud platforms dispersed over many locations into a single integrated cloud SaaS offering from a single vendor. As such, Riskonnect customers can reduce dependency on less scalable data centers and on-premises hardware systems.
Using public cloud hosting and virtualization of our co-located environments for our software solutions allows for efficient use of resources. Virtualization allows us to consolidate and manage system use much more specifically, and it generates savings in resources and energy use. The flexible nature of the public-cloud hosting environments helps us expand when necessary, reducing overall material and power-consumption requirements.
The Riskonnect HR team is very involved in supporting employee engagement and job satisfaction, including thoughtful consideration for work/life balance, leadership, and career development, along with the management of key employee wellness initiatives.
- Riskonnect provides many programs for employee development, including learning tracks with topics ranging from financial planning, product boot camps, nutrition, and fitness, and wellness.
- Riskonnect has a ‘shout out’ program whereby employees can recognize their peers for exceptional performance.
- Riskonnect has a strong career development plan and works with employees on career pathing within their own functions and cross-departmentally.
- Riskonnect offers an annual wellness reimbursement for each employee, as well as an Employee Assistance Program (EAP).
- Riskonnect routinely measures employee engagement both internally and externally. Internally, Riskonnect executes periodic cross-company engagement surveys and ad-hoc departmental engagement pulses.
Riskonnect invests in diversity efforts including recruitment, training, and promotion by the following:
- Riskonnect launched awareness and education programs that focus on addressing racial inequality, human rights, and underserved communities globally.
- Global training programs have included deep dives into cultural sensitivity and bias.
- Riskonnect has used new colleague recruiting approaches that promote diversity recruitment.
- Riskonnect has encouraged and supported employee-led groups such as WITKonnect (Women in Technology), which focuses on the development of women in the fields of risk and technology.
- As part of our recruiting process, Riskonnect works to improve diversity, such as developing outreach programs and partnering with local colleges and universities.
Riskonnect’s core value of Community has been turned into action through numerous global and local charitable initiatives that enable employees to volunteer and monetarily give back to the communities where we live throughout the world.
Riskonnect has appointed its CHRO and his/her designees as accountable individuals in building the Riskonnect’s ESG program. During the implementation of the program, metrics will be defined against best practice frameworks. Riskonnect has a conflict-of-interest policy, a corporate social responsibility policy, a code of conduct setting out Riskonnect’s requirements and process to report and deal with noncompliance, and a whistleblower policy. Riskonnect ensures segregation of duties, monitors financial transactions, provides training to employees and the board, and has recently updated its core policies.
Riskonnect maintains a Code of Business Conduct and Ethics and Anti-Bribery/Anti-Corruption Policy that all employees are subject to.
While Riskonnect has many ESG initiatives, it is currently actively engaged in a project with its owner and portfolio ESG director to establish a comprehensive ESG program, which is a requirement of all TA Associates portfolio companies.
Our ESG Priorities
Our Environmental, Social, Governance (ESG) strategy framework is focused on nine priorities, determined through an initial assessment conducted in mid-2021. The assessment included seeking internal and external stakeholder feedback and benchmarking our position via third-party input.
Over the past several years as ESG has come into a clearer focus, Riskonnect has been working to better align itself with the various ESG components. As a first step, Riskonnect partnered with Ecovadis to assess our efforts. Ecovadis’ sustainability rating methodology covers 21 sustainability criteria across four themes: environment, labor & human rights, ethics and sustainable procurement. In Riskonnect’s latest report from Ecovadis, the company earned a bronze medal in recognition of our sustainability achievements, placing Riskonnect in the top 50% of evaluated companies.
Please find below an overview of Riskonnect’s perspective on ESG and action plans related to continuous improvement.
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