In 2010, for the purpose of Kazatomprom’s corporate management system improvement, Risk Management System (RMS) was implemented. Risk management is regulated by approved internal RMS documents and regulatory RM documents of SWF “Samruk-Kazyna” JSC.
Risk Management Division is a structural unit responsible for risk management in Kazatomprom. Risk management key issues are preliminary submitted for consideration to the Risk Management Committee of Kazatomprom’s Management Board. All enterprises have their own separate divisions or risk managers responsible for risk management.
On a regular basis, risk owners together with Risk Management Division analyze all identified risks within the qualitative and quantitative risk assessment and determine measures to minimize their impact and/or likelihood of their occurrence.
Kazatomprom has made great efforts to improve its risk management system. The Company has formed a common risk management methodological base, set an effective risk identification process, implemented a risk limiting practice (determination of risk appetite, levels of tolerance with regard to key risks, limits to bank counterparty and implementation of a system of key risk factors). Risk management action plan and Risk Management Committee’s action plan are annually developed. RMS development level of a group of enterprises is assessed on a regular basis.