Risk owners
Participate in risk analysis and assessment and in defining risk mitigation measures.
Risk Management
Corporate management system
Risk identification, assessment and mitigation
Volkovgeology JSC has implemented a risk management system. It operates under the Company’s approved internal documents and the risk management regulations of NAC Kazatomprom JSC.
RMS
Risk management system
Regulatory basis
- Internal RMS documents of Volkovgeology JSC
- Risk management regulations of NAC Kazatomprom JSC
Recurring process
Risk management cycle
Risk owners and the responsible department regularly analyse identified risks and define measures to reduce their impact and likelihood.
Identification
Recording risks and regularly updating the database of realised risks.
Assessment
Qualitative and quantitative assessment of identified risks.
Response
Defining measures to reduce the impact and likelihood of risk events.
Monitoring
Monitoring key risk indicators, limits and implementation of the annual plan.
System participants
Allocation of responsibility
Risk management brings together risk owners, the responsible department and a collegial body for preliminary review.
Responsible department
Business Administration and Risk Management Department
The structural unit responsible for organising risk management in the Company.
Risk Management Working Commission
Conducts preliminary review of key risk management matters.
System maturity assessment
NAC Kazatomprom JSC regularly assesses the development level of the Company’s risk management system.
Operating mechanisms
System instruments
The RMS is supported by interconnected mechanisms for risk identification, limitation and monitoring.
Realised risk database
Maintained and regularly updated.
Risk identification
An established risk identification process is in place.
Risk appetite and tolerance
Acceptable risk levels are defined for key areas.
Counterparty bank limits
Financial risk limits are applied.
Key risk indicators
An indicator system is used for regular monitoring.
Annual work plan
A risk management work plan is prepared each year.
Governing document
Risk Management Policy
The Risk Management Policy of Volkovgeology JSC defines the general principles of the RMS and is updated as necessary.
Risk Management Policy
2023 edition · PDF · 8.6 MB