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Our Strategies

Overview

OurStrategies

Disaster Planning
Amalgamated Security Services Limited has adopted a rigorous approach to disaster planning. We have developed a comprehensive Crisis Management and Business Continuity Plan that covers the five (5) spheres of disaster. (Refer to Disaster Planning Section – Security Resources page).
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We conduct both emergency and crisis drills quarterly with top management and staff in preparation for response to natural and man-made disasters.

Enterprise Risk Management
Certified in ISO 9001:2015, ISO 18788:2015, and ANSI/ASIS PSC 1:2012, Amalgamated Security Services Limited (ASSL) embodied the enterprise risk management (ERM) strategic business discipline that supports the achievement of the organization’s objectives by addressing the full spectrum of its risks and manages the combined impact of those risks as an interrelated risk portfolio.
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Amalgamated Security Services Limited employs the process of identifying and addressing methodically the potential events that represent risks to the achievement of strategic objectives, or to opportunities to gain competitive advantage.

Strategic Risks ASSL’s risks have been classified into four main categories: strategic, operational, compliance, and reporting. These categories are based on our risk portfolio – contract signing and negotiation, execution of contractual obligations, compliance with legal and regulatory requirements, and reporting results.

Operational Risks The operational risks category includes risks that are associated with our daily operations and the services we provide to our clients. It also covers risks related to infrastructure such as business continuity, Information, Communication, and Technology risks, etc.

Reporting Risks The reporting risks category includes the risks related to litigation and financial reporting such as fraud and error risk, management estimates assumptions risk, credit, and cash flow risk, and regulatory reporting risk.

Compliance Risks The compliance risks category includes risks associated with ethics compliance risks, health, safety, and environmental risks, and legal risks.
Risk Based Monitoring
Risk-based monitoring approach encouraged Amalgamated Security Services Limited to engage in a comprehensive and systematic process to pre-emptively manage the risks associated with its operations. This approach fueled the framework for continual improvement and the creation of an ongoing, dynamic and interactive risk-based thinking process that served to promote strategies that will:
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  • Manage risk posed to the lives and property of clients we are contractually obligated to protect.

  • Support the objectives of the Montreux Document on Pertinent International Legal Obligations and Good Practices, the International Code of Conduct for Private Security Service Providers (ICoC), and the Guiding Principles for Business and Human Rights; Implementing the United Nations “Protect, Respect and Remedy” Framework.

  • Demonstrate commitment, conformance, and accountability to respect human rights, laws, and fundamental freedoms.
  • Reduce risk and support the business and operational mission.

  • Successfully manage an undesirable or disruptive event by developing a strategy and action plans to safeguard its interest and those of its clients and other stakeholders.
Insurance as a Risk Management Tool
Amalgamated Security Services Limited utilizes external insurance to protect its balance sheet against risks that have the potential to cause a significant financial impact. Our risk appetite is important to us in that it aids in the protection against unforeseen events.

Our investigations unit adopts a proactive approach to claims management by conducting risk assessments at clientele locations to determine whether it is within a high or low-risk region. The unit also analyses claims and incidents to provide positive recommendations for improvement of client’s security programs.

Notable that our risk management portfolio is continuously monitored and reviewed periodically because risk, risk control, and risk transfer methods change constantly.
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