Controlling risk is a key function of Baiterek Holding
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Controlling risk is a key function of Baiterek Holding
Risk management is an integral part of the Holding's activities aimed at identifying, assessing, controlling threats to the Holding, and taking measures to minimize them.
The Holding’s risk management system works on several levels in the following bodies and departments: Board of Directors, Management Board, Risk Management Department, Internal Audit Service, and other structural units.
The Board of Directors plays a key role in overseeing the corporate risk management system. It performs some functions in the field of risk management by creating committees under the Board of Directors.
The Management Board is responsible for organizing an effective risk management system and creating a risk control department to ensure compliance with corporate policies, as well as raising “risk awareness” that reflects the risk management policy and philosophy of the Holding. In order to organize risk management, collegial bodies under the Holding's Management Board may be assigned functions and powers determined by the Holding's Management Board.
The main functions of the Holding’s structural units and other employees working with the risk management process are identification and assessment of risks on a regular basis, development of methodological and regulatory documents within their competence, implementation of approved measures to minimize risks, and the development of risk communication.
The Risk Management Department is responsible for coordinating the risk management system.
The Holding's Internal Audit Service audits risk management procedures and risk assessment methodologies, and also develops proposals to improve the efficiency of risk management procedures.
The Holding is constantly working to improve the risk management system in accordance with the best international standards. The mission, goals and objectives of the corporate risk management system, the risk management structure, and the main components of the risk management system are set out in more detail in the Holding’s Risk Management Policy.
