Risk management

For maintenance of efficiency of activity, providing a guarantee of achievement of strategic objectives the management of the Company assumes obligations to develop, introduce, develop, and constantly to improve system risk of management, through realization of the following policy including the purposes, tasks and the principles of risk management.

Purposes and problems of risk management of the company:

1) Decrease in the arising threats and increase in opportunities for achievement of strategic objectives, preservations of business reputation and development of the company:

  • identification and assessment of materiality of the events influencing achievement of strategic objectives;
  • ensuring preventive actions for minimization of probability and negative influence of risks on the purposes;
  • strategic planning taking into account risks;
  • timely informing of heads of the company and interested parties on existence of threats and opportunities;
  • monitoring of actions for control over risks.

2) Ensuring the safety and security of gas supply to consumers:

  • Creating programs to respond to risky situations;
  • regulation the processes of localization the effects of risk events;
  • coordination, provision and evaluation of a timely response to emergencies.

3) Improving the quality of management and a positive change in the management culture of the company:

  • Improving the accuracy and adequacy of management’s representations about the real state of the company by streamlining space analysis of the company and its environment,
  • the use of regular, methodically supported by risk analysis procedures in all the spheres of activity on all the factors internal and external environment;
  • expansion of a range of the possible and offered operating anti-risk influences proved by projections of results of introduction of accepted operating influences;
  • ensuring the communication between the last and the future of the company, between the last and the future economic conditions of the company.

4) The guarantee of the investments` safety:

  • increasing the attractiveness of the company to potential investors by increasing the transparency of business processes and financial stability of the company;

5) Increase of management efficiency by processes, projects and changes;

6) Introduction to the work of the practice of evaluating the likely financial deviations of the target values of the risk;

7) Increase in the value of the company by minimizing the losses that the company may incur as a result of the risk;

8) Increase profits by increasing the efficiency of resource use.

The strategy and principles of risk management:

System approach. Management of all types of risks on all key spheres of activity, at all levels of company management. Risk management — a component of all organizational processes of the company, including strategic planning and management of processes;

Full responsibility for risks. Informing each division and the employee about his tasks in the management of risks within competence, knowledge and available information;

Cross-functional interaction. Implementation of management process by interfunctional risks on the basis of the joint decisions accepted in common, taking into account information available for various functions;

Information security risk management system for creation opportunities to inform timely and fully the decision-makers about the risks;

Separation of decision-making levels. Making decisions on risk minimization at different levels of government, depending on the significance of the risks;

Resource providing the one who is responsible for risk management;

Binding to the purposes. Risk management is based on the goals of the Company`s Strategy, the purposes and indicators in the field of compliance to legislative and standard requirements, the purposes and indicators in the field of quality, health protection and safety of people, environment protection;

Involvement of interested parties. Corresponding and correct on time involvement of interested parties in management of risks, acceptance in attention of their views and interests when determining criteria of an acceptability of risk;

The concentration on the external and internal context and the structure of the company’s risk, taking into accounts the human and cultural factors, identifying potential perceptions and intentions of internal and external stakeholders who can help or hinder the achievement of the objectives of the company;

Cost-effectiveness of the risk management. Ensuring economic efficiency of risk management measures;

Monitoring the effectiveness of risk management. Implementation of monitoring of key indicators of the risks developed for each priority area of risk management;

Response to changes. Creation a dynamic, repeating and capable to changes the risk management process, promoting continuous improvement of the company;

Development and implementation of strategies for the development of risk management along with the development of other management systems and aspects of the company.

The management of the company takes the responsibility for the implementation of policies in the field of IMS (quality, health and occupational safety, environmental protection and risk management), the analysis of the adequacy and suitability, and revision.

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