The Company appoints a Risk and Compliance Officer who reports directly to Supervisory Board, ensuring the organization of the functioning of Enterprise risk management and internal control, including compliance with mandatory regulatory requirements on anti-corruption issues of the Republic of Kazakhstan, and performing functions in accordance with the legislation of the Republic of Kazakhstan, constituent documents and the internal documents.
The tasks of the Risk and Compliance Officer are:
• Ensuring the functioning of Enterprise risk management and internal control;
• Ensuring the functioning of the business continuity system;
• Ensuring compliance by employees of the Company with the requirements of the legislation of the Republic of Kazakhstan, international standards, agreements, contracts and internal regulatory documents on anti-corruption issues.
Enterprise risk management
Enterprise risk management (ERM) is a major part of improving the corporate governance system.
Risk management based on approved internal documents for the ERM, 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 effective decision making at all management levels and ensure the achievement of strategic goals and key performance indicators of the Company.
Internal control
The organization of the internal control system provides for the construction of a management system capable of quickly responding to process risks, exercising control over the main and auxiliary processes and daily operations.
Internal control 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 operating activities.
Compliance
The Company strives to conduct its business with integrity and the highest standards of business ethics, and the Company expects the same treatment from its suppliers, customers, consultants, agents and other business partners.
Our Company carries out a comprehensive check of counterparties in order to minimize the risk of cooperation with persons involved in any illegal activity, including bribery and other manifestations of corruption, money laundering and terrorist financing, or subject to international sanctions prohibiting cooperation.
