Governance Structure
Governance Structure
Risk Management
In 2024, the Airports Authority strengthened its approach to risk management as a cornerstone of operational resilience and long-term sustainability. Our framework continues to evolve in response to emerging challenges and risks, with a focus on identifying, assessing, mitigating and monitoring threats to business continuity, the environment, and our stakeholders.
This year, the Airports Authority formally established an Enterprise Risk Management Committee, further mobilizing a coordinated, organization-wide strategy to assess and manage risk across all functions and business areas.
We employ a dual risk management approach at the operational and enterprise-levels, tailored to the scale and complexity of our organization.
Operational Risk Management
• Promote the safety and health of passengers and employees
• Review contracts for appropriate risk transfer mechanisms, including insurance requirements
• Apply risk thresholds to balance exposure and cost, capping potential loss
• Collaborate with insurers through property inspections to safeguard physical assets
• Review construction plans for new development and existing facilities
• Secure insurance coverage to support cybersecurity, expansion projects and ongoing construction
Enterprise Risk Management
• Lead proactive identification, assessment and mitigation of key risks aligned with the Airports Authority’ s mission and strategic goals
• Customize processes to fit the Authority’ s structure, scale and corporate direction
• Anticipate and address risks inherent in day-to-day operations and broader business activities
• Engage employees across departments in recognizing and managing potential risks
• Communicate risk strategies and updates to internal and external stakeholders
The creation of the Enterprise Risk Management Committee reflects the Airports Authority’ s continued investment in forward-looking governance, embedding risk awareness into every level of decision-making and operations.
REGULATORY COMPLIANCE | 2024 IMPACT REPORT 36 METROPOLITAN WASHINGTON AIRPORTS AUTHORITY