The mission of the Risk Management Unit (RMU) is the substantial contribution in the development of a modern operational framework at all organisational levels, for the acknowledgement, assessment and management of the risks faced by the Company.

The RMU ensures that the risks undertaken by the Company’s units are consistent with the disposition for taking risks and with the tolerance limits which the senior administration shall specify and form.

According to the requirements of the Decision No.1/891/30.9.2020 of the HCMC, the RMU has adopted appropriate and effective policies, procedures and tools (such as for example risk registers) for the determination, analysis, control, management and monitoring of any kind of risk inherent in the Company’s operation. More specifically, the RMU applies risk acknowledgement, awareness and assessment procedures (risk assessment), risk management and risk response procedures and risk progress monitoring procedures (risk monitoring).
The RMU shall apply the methodology “Enterprise Risk Management” (ERM), which allows the Management to detect, assess and manage risks. The methodology is based on the COSO (Committee of Sponsoring Organizations of the Treadway Commission) framework ERM, which provides directions for the incorporation method of the ERM minutes and captures their implementation principles.

The RMU operations shall be performed by the Head of the Risk Management.



Related Documents: 

Charter of Risk Management Unit

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