Information on the internal control and risk management function

The Company’s organisational structure was approved by decision of the Board of Directors (Minutes No. 241/2016 dated 31 May 2016). As a result, the Internal Control and Risk Management Department was established that is an independent unit responsible for the implementation, development and improvement of the Company’s unified framework to building internal control and risk management systems, as well as for methodological and organisational support for the implementation of preventive and current control in the Company.

In accordance with the Risk Management and Internal Control Policy, the Internal Control and Risk Management Department performs the following functions:

• Co‑ordinates risk management and internal control processes
• Organises and conducts staff training in risk management and internal control
• Analyses the risk portfolio and develops proposals on response strategy and reallocation of resources in relation to risk management
• Generates risk reporting
• Exercises operational control over the process of risk management by business units
• Conducts control activities pertaining to the organisation and functioning of the RM&ICS
• Prepares and submits to the executive bodies information on the organisation, functioning and efficiency of the RM&ICS, as well as on other issues stipulated by the Risk Management and Internal Control Policy