Risks & Opportunities
Effective risk management as the foundation of business growth
COO, CSO, CRO, Senior Managing Corporate Executive Officer and Board Director, Head of HR Technology SBU
For Recruit Group to successfully pursue its growth strategy on a global scale, a solid foundation of risk management and compliance is essential. Considering the rapidly changing environment surrounding the Internet business, simultaneously achieving growth and managing risk is a challenge, but with the development of appropriate systems and safeguards, we are positioning the Group to meet this. To anticipate change in both technology and business environments, and quickly expand the business, we are transferring most decision-making authority related to business operations to the three SBUs. At the same time, to mitigate risk and maximize the merits of the SBU system, we have established a Risk Management Committee within each SBU, to enhance risk management effectiveness on the front lines of the business.
We regard security management, including the protection of personal information, as one of the most important risks. In particular, the handling of data in the HR Matching business in which we aim to expand, is highly sensitive. As the laws and regulations of countries and regions constantly change and evolve, we must strengthen our responsiveness and raise the level of our risk management. While this is by no means easy, it is a challenge that we must meet head-on as we work to become a global leader in the HR Matching business.
The advancements of technologies such as machine learning and the changes brought to labor markets worldwide can present both risks and opportunities — depending on our actions. Amid rapid change, effective and steady risk management is the key to provide opportunities continuously that offer real meaning to both individual users and enterprise clients. To achieve this, we are implementing various measures such as strengthening cybersecurity projects with additional expert engineers. Looking ahead, we will not only focus on recruiting and retaining security specialists, but will also work to further strengthen our risk management systems through all means necessary, including reviews of our governance rules and procedures.
Beyond powering new businesses, we also see that technology provides significant opportunities for efficient and effective risk management and compliance activities. We aim to pursue risk management appropriate for our Group, while looking in depth at swiftly changing global trends.