Description of the risk management system and its operation
The Russian Railways Group’s corporate risk management system operates in accordance with the main guidelines specified by the functional strategy in this area.
Purpose of the Russian Railways Group’s corporate risk management system
- optimisation of the results of the Group’s strategic management given the impact of external and internal risks;
- achlevement of the target benchmarks specified in the Russian Railways Group’s Development Strategy until 2030;
- ensuring the systematic approach to making long-term strategic decisions.
Main objectives of the corporate risk management system
- identifying potential risk areas and assess the feasibility of preventing or minimising risks;
- preventing risks based on their systematic forecasting and assessment;
- creating management tools and mechanisms to ensure effective risk management;
- developing and assessing the set of measures to prevent risk situations and minimise damage if they occur;
- identifying the resources required to eliminate and minimise risks as well as their optimal distribution in accordance with the established regulations;
- maximising the additional earnings generated as a result of risk management based on the sound handling of risk situations.