The Partnership has a Risk Officer reporting directly to the Supervisory Board, ensuring the organization of the functioning of the Partnership’s risk management, internal control and business continuity management systems, performing functions in accordance with the legislation of the Republic of Kazakhstan, the constituent documents and internal documents of the Partnership.
The tasks of the Risk Officer are:
- ensuring the functioning of the risk management and internal control system of the Partnership;
- ensuring the functioning of the Partnership's business continuity management system;
- preventing and minimizing risks and associated losses of the Partnership; ensuring the transparency of the Partnership's activities and strengthening trust in the Partnership;
- assisting the executive body of the Partnership in risk management.
Risk Management System
As part of improving the Partnership's corporate governance system, a risk management system (RMS) has been implemented.
Risk management is carried out on the basis of the Partnership's approved internal documents on the RMS, as well as in accordance with the regulatory documents on risk management of the Sole Participant and Samruk-Kazyna JSC.
Accurate and timely identification, assessment, monitoring and response to risks allow for effective decision-making at all management levels and the achievement of the Partnership's strategic goals and key performance indicators.
Internal control system
Organization of the internal control system in the Partnership involves building a management system capable of quickly responding to process risks, exercising control over the main and support processes and daily operations.
Internal control in the Partnership is aimed at preventing risks in three key areas of activity, including the formation of financial and management reporting, compliance with the requirements of legislation and internal regulatory documents, as well as improving the efficiency of processes within the framework of operational activities.