Risk management in the company is constant, dynamic and continuous process.
With the purpose of effective organization of risk management the Committee of risks was founded under the President of the Company. The Committee of risks is a constantly acting collegiate body under the President of the Company who coordinates the process of risk management system organization of the Company.
Risk management
The company represents a new independent direction of management which is one of the most important administrative processes in the company.
Adoption of the corporate management risk management in the Company supposes establishment and development of necessary infrastructure and culture as well as includes logical and systematic identification methods usage, analysis and estimation, monitoring, control and risk management inherent in all activity directions, functions or processes of the Company with the purposes of losses and profit maximalization prevention.
During implementation of its activity within the limits of policy the Company takes into consideration interests and consequences of risk realization for the Sole shareholder of the Company and other parties in interest. The Company developed methodology in risk management sphere. This Policy of risk management of JSC «MRG» is approved by the decision of the Board of directors of the Company.
During the process of every component realization of the risk management system information change between the structural unit is provided.
Risk — management in the Company is carried out on the basis of COSO standart.