2022-23 SGI CANADA Annual Report
System Availability and Recovery
Risk: A disruption to operational systems persists beyond tolerable limits resulting in financial hardship, reputational
damage and lost business opportunities.
Mitigation: Progress has occurred on several initiatives that will improve system availability and recovery capabilities
for SGI. Efforts include that of SGI outsourcing business system support to reduce skillset/knowledge risk and
employing a centralized database to inventory the technology estate to speed identification and remediation
of vulnerabilities and proactively drive problem resolution to preserve services. In addition, business continuity
management and disaster recovery processes are being modernized with highest risk business services
prioritized for updates when required. Migration to new technology platforms is underway through the Corporate
Transformation program. These platforms are cloud based and utilize modern approaches to development and
integration which position SGI to improve system reliability overall.
Culture
Risk: The risk that the company does not have the culture to align with the corporate strategy, or the right people to
align with the culture.
Mitigation: Culture is a very high priority at SGI. In 2023, a refresh and expansion on culture skills is planned to
further build on existing critical skills and knowledge. Special efforts have focused on senior leaders to create
the focus and alignment necessary to lead employees through Corporate Transformation. This includes skill
development in the areas of leadership enablement, coaching and mental health first aid. A new governance structure
has been built to bring culture and an inclusive workplace together. This governance framework is comprised of
executive and senior leaders as well as involvement from a variety of leaders and employees.
Competition
Risk: To be successful, SGI CANADA must attract new customers and retain its profitable market share by focusing
on meeting the elevated expectations of customers of how, when and where they want to do business. SGI must also
achieve the minimum sustainable size that will allow it to survive in an increasingly consolidating market.
Mitigation: The Corporation continues to provide superior service and support to brokers to attract new
business and retain the existing book of business and has enhanced pricing with more sophisticated use of data.
The Corporation monitors market developments closely, particularly in Saskatchewan, and has expanded its broker
network in areas outside Saskatchewan. The Corporation is developing online services to improve the speed,
accuracy and ease with which brokers and consumers do business with the Corporation.
Strategy
Risk: The risk that company strategy does not appropriately capitalize on opportunities or mitigate against risks in
the business environment.
Mitigation: SGI follows a formalized planning process that considers opportunities and risks in the business
environment. The process allows for developments in the business environment to be identified and addressed
throughout the year. The current plan runs to 2025-26, supported by annual plans. The strategy is evaluated using
a balanced scorecard, with regular monitoring of results and formal quarterly reporting. The strategy is cascaded
through the company via senior leadership meetings, all-management meetings and staff town halls, all supported
by SGI's performance development plan process. Initiatives are prioritized by SGI's Strategic Review Board and
Executive Leadership Team to ensure critical strategic initiatives are appropriately resourced and supported.
SGI's Enterprise Program Management Office oversees program and project management to ensure execution
of strategic initiatives.
2022-23 SGI CANADA Annual Report 27View entire presentation