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National Managing
Holding "Baiterek"

Risk Management

Corporate risk management system is an integrated component of the Holding and its subsidiaries (hereinafter – the Subsidiaries), which is aimed at the identification, evaluation and monitoring of all material risks of the Holding, as well as measures to decrease these risks.

In September 2013, in order to improve the efficiency of asset and liability management of the Holding and its Subsidiaries in compliance with the principles of diversification, optimization of financial risks and maintenance of financial stability of the Holding group, the Asset and Liability Management Committee was established.

In October 2013, the Board of Directors approved the Risk Management Policy which is a document that reflects the concepts and approaches in risk management of the Holding. The Policy is obligatory for familiarization and application by all structural subdivisions and all employees of the Holding, and is recommended for application by the Subsidiaries of the Holding.

The Holding continually improves the corporate risk management system in accordance with the best international practice of risk management. This includes development and updating of the methods for assessing and monitoring risks and reporting on risks which is submitted to the Managing Board and the Board of Directors.

Due to the fact that the main task of the Holding in the field of risk management is not only the risk management of the Holding itself, but also active enhancement of the role and effectiveness of risk management in the Subsidiaries. The Risk Management Department of the Holding introduced centralized standards and reporting forms on all risks, and also participated in the development of the list of documents regulating the process of managing money, borrowing and lending.

The Holding plans to introduce automated management reporting system, including risk management, which will significantly improve the promptness and accuracy of the information for managerial decisions.