Contents
Introduction Social
Governance
Environmental
Indexes
Awards
TTEC 2024 Impact and Sustainability Report
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Enterprise risk management Proactive risk management is fundamental to how TTEC does business. At TTEC, risk is continuously assessed and managed with the oversight from the Audit Committee of our Board of Directors. Key elements of our risk management program include:
Climate-related risks Climate-risk assessments are conducted, on average, every two to three years to identify and assess climate- related risks. These risks are measured and prioritized by the potential impact they could have and likelihood of occurring. In addition to managing these identified risks and opportunities, we ensure we are kept up to date on, and compliant with, any existing or emerging climate- related regulatory requirements as they relate to TTEC through our third-party partner. Our proactive risk management approach also identifies opportunities to reinforce operational resilience and enhance client relationships. By maintaining a mix of remote and on-site employees, we reduce the impact of localized climate events and support employee well-being. This flexibility improves adaptability and can reduce operational costs. Strong client relationships enable collaborative solutions to climate-related challenges, supporting sustainable and resilient operations. This ongoing and comprehensive enterprise risk management system is continuously reassessed to enable an agile and proactive approach to risk management. How TTEC transfers risk TTEC annually procures a multi-level insurance program tailored to the needs of the business. TTEC’s chief risk officer and chief financial officer determine the level and structure of TTEC’s insurance program based on the needs of the business, its risk appetite, and tolerance. The cost of insurance is considered an ordinary cost of doing business, budgeted annually.
Staying at the forefront of relevant developments in our business to understand and continuously assess potential risks and disruptors, including impacts of economic trends and consumer sentiment.
Monitoring clients’ business to understand likely impacts on the demand for the company’s services.
Requiring business leaders to manage risk proactively in alignment with TTEC’s appetite and tolerance for risk.
Identifying certain prioritized risks that could not be reasonably mitigated and transfer them through insurance or risk-sharing strategies, if these risks are outside of TTEC’s tolerance level. Communicating risks throughout the organization in clear and timely fashion to keep relevant stakeholders informed about potential short-term and long-term risks in their part of the business. Stakeholders are held accountable for understanding the risks and escalating them as appropriate. Conducting periodic formal risk assessments through interviews and surveys of company leaders, across geographies and business segments, and analyzing risk-specific data on the likelihood of occurrence and severity of impact. Risks with highest scores are then further evaluated to adjust risk scores based on the effectiveness of existing mitigation processes. Continuously evolving how business is done, or abandoning certain aspects of the business, as needed, to reduce the likely impact of unmitigated risks.
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