Risk management and internal control
Functioning of the RM&ICS
Rosseti Kuban JSC put in place a risk management and internal control system (hereinafter referred to as the RM&ICS), the purpose of which is to ensure the implementation and maintenance of an efficient RM&ICS that complies with generally recognised practices and standards in the field of risk management and internal control, the requirements of regulatory and supervisory authorities, and contributes to the achievement of the operational goals of the Company’s financial and economic activities, as well as ensuring reasonable confidence in achieving the Company’s goals and the development strategy of Rosseti Group PJSC, including ensuring reliable, high‑quality, and affordable power supply to consumers.
The main documents that regulate the organisation and functioning of the RM&ICS in the Company are:
- Risk Management and Internal Control Policy approved by resolution of the Company’s Board of Directors No. 521/2023 dated 16 June 2023 (Order No. 727‑od dated 27 October 2023)
- Preferred Risk Appetite (Minutes of the Board of Directors No. 535/2023 dated 5 October 2023)
- RM&ICS Development Programme for 2023–2024 (Order No. 401‑od dated 14 June 2023)
- Procedure for organising risk management and internal control (Order No. 699‑od dated 23 September 2024)
- Risk Assessment and Monitoring Methodology (Order No. 835‑od dated 4 December 2023)
- Procedure for determining preferred risk (risk appetite) (Order No. 705‑od dated 19 October 2023)
- Glossary on risk management and internal control (Order No. 43‑od dated 25 January 2023)
- Risk Register for 2024 (Minutes of the Management Board Meeting No. 41/2023 dated 6 December 2023)