The Group’s enterprise risk management process is inspired by solutions based on best practices in risk management: ISO 31000, COSO II, FERMA, as well as the specific nature of the Group’s business.
Risk management is a continuous process and is subject to continuous improvements, covering both the organisation’s strategy as well as procedures for implementing this strategy. It methodically resolves issues related to threats to the organisation’s operations that took place in the past, are currently present and are the most likely to occur in the future.
The Group has a comprehensive enterprise risk management system consisting of a policy and procedure for enterprise risk management. These updated documents describe a systemic approach to risk, cover material risks that are applicable to the Group’s operations and meet the highest ERM standards, thus contributing to the Group’s reputation on the market. The ERM system is a tool supporting management processes, allowing a comprehensive approach to identifying, evaluating and managing risk.
The ERM system constitutes a set of rules concerning risks to the Company’s activities and covers: