Company's Risk Management System Development Plan for 2012
The plan for the Company's RMS development in 2012 includes the following key measures:
- practical hedging of the currency risk under the methodological guidance of the State Atomic Energy Corporation ROSATOM;
- developing and implementing the methodology and model of portfolio analysis for the Company’s newly signed contracts in terms of “risk-profitability” and verifying that they conform to the risk preparedness indicator and commodity risk threshold;
- developing the assessment of the prospective sales volume of the Company under the risk with strategic horizon (until 2030) under the ROSATOM’s strategic initiative — “Retaining global leadership in the initial stage of nuclear fuel cycle”;
- finalising the integration of RMS with the budgetary and
mid-termplanning processes, introducing risk management into the decision-making processes when negotiating new contracts and developing (adjusting) the Company’s business strategy;
- automation and computerisation of the risk management process, including the transition from ’manual’ preparation of Reports by risk ’owners’ to the interactive process based on software application.
- regular VaR assessments, FMEA analysis, compiling risk pyramids and risk maps, as well as a risk radar, and providing the Reports to the State Atomic Energy Corporation ROSATOM and the the Company's management.