In 2010, for the improvement of Kazatomprom’s corporate management, a Risk Management System (RMS) was implemented. Risk management is regulated and approved by internal RMS documents and regulatory RM documents of SWF Samruk-Kazyna JSC.
The Risk Management Division is a structural unit responsible for risk management in Kazatomprom. The key issues of Risk management 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 of the identified risks within the qualitative and quantitative risk assessments, and determines measures to minimize the 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, and 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). The Risk Management action plan and Risk Management Committee’s action plan are annually developed. The RMS development level of the group of enterprises is assessed on a regular basis.