Risk and Business Continuity Management
GlobalFoundries strives to meet commitments to clients, the community and employees through credible risk assessment, disciplined mitigation, comprehensive threat awareness and practiced crisis management. In this manner, we hope to achieve strategic and practical recovery planning backed by responsible risk financing. The following are key elements of GlobalFoundries approach to business continuity:
- Global scale and resiliency
- Executive stewardship and broad organizational participation in both planning and crisis decisions
- Business continuity and recovery planning via recognized standards of practice
- Crisis communication and command protocols for prompt and appropriate attention to threats
- Manufacturing operations in low risk geographies
- Highly Protected Risk (HPR) standard for critical properties
- World-class Environmental, Health and Safety programs support loss prevention and mitigation
- Pro-active management of supply chain risks
Global scale and resiliency
Client support and manufacturing capability across the globe means spread of risk – regional or other widespread threats should impact only a fraction of our resources which affords flexibility in prevention, threat awareness, crisis response and recovery.
Recognized standards of practice
GlobalFoundries Business Continuity Program is designed in consideration of recognized resources, including international standard ISO22301:2012 and DRII (Disaster Recovery Institute International) professional practices. The process is repeated on an annual cycle and deliverables are defined at each stage.
Risks are identified at the manufacturing site level through a variety of assessment methodologies conducted by both internal and external resources. The frequency of these assessments depends on risk type, but is typically annual. Risks are aligned via a common risk scoring matrix and results roll up into a list of top enterprise-wide risks. During this process, mitigation strategies are identified, validated and measured.
Sites develop recovery action plans based on critical business functions and recovery objectives. Global organizations develop recovery action plans in alignment with the sites.
Low risk geographies
GlobalFoundries manufacturing sites are located outside regions typically exposed to destructive natural hazards: earthquake, hurricane, tropical cyclone, volcano, tsunami or storm surge. Regional or other widespread threats will generally impact only a fraction of our resources, affording flexibility in prevention, crisis management and recovery options. Burlington, Dresden, East Fishkill and Malta experience moderately heavy rain and winter storms, which are not likely to result in significant impacts.
High risk quality for critical properties
All GLOBALFOUNDRIES manufacturing sites are considered Highly Protected Risk (HPR) locations as defined by the global property insurance standards.
"Property that is judged to be subject to a much lower than normal probability of loss by virtue of low hazard occupancy or property type, superior construction, special fire protection equipment and procedures, and management commitment to loss prevention."
- International Risk Management Institute, Inc. (IRMI), 2012
"A highly protected risk (HPR) location is one in which all reasonable physical and human element loss prevention measures have been implemented to protect buildings, equipment and contents from all losses, including those caused by natural hazards. All needed human element programs have been established, automatic sprinkler protection has been provided throughout, there are no outstanding FM Global recommendations with significant loss expectancies, and change is being managed proactively to maintain this status."
- Harry Yonemoto, Account Manager, FM Global
We work closely with our insurance loss control professionals to monitor manufacturing site risk quality, identify issues and develop appropriate and timely risk improvement plans.
World-class safety programs
Through our Global Environmental, Health and Safety policy, we are committed to a “Beyond Compliance” approach, seeking to exceed the requirements of applicable regulations. We implement consistent and rigorous EHS standards, management systems, metrics, external reporting, and compliance assurance programs. These are designed to protect the environment; to protect the safety, health and well-being of our employees, contractors and communities; and to ensure that we meet or exceed regulatory compliance requirements. Our manufacturing sites maintain EHS Management Systems certified to the ISO 14001 and ISO 45001 standards. More information about our Environmental, Health and Safety programs and our current ISO certificates are available on our Corporate Responsibility resources page.