JSC Atomenergoprom Annual Report
JSC ATOMENERGOPROM / ANNUAL REPORT / 106
GOVERNANCE SYSTEM
Results in 2022:
-
-
-
The URAN (Risk Management: Analytics) Industry-Wide Risk Management System (URAN IRMS), an
information system developed as part of project B-RM1-1 to build an Industry-Wide Risk Management
System in ROSATOM, became fully operational;
A list of key risk indicators was compiled, including a description, the calculation algorithm and
frequency, sources of information and thresholds (baseline, warning and response thresholds);
A system for early response to risks related to national and federal projects was in place;
Key risks that JSC Atomenergoprom is exposed to and that affect the Company's key financial and
economic indicators were identified and assessed;
Workshops, risk sessions and conferences were held to enable risk officers and employees within the
hierarchy of the Risk Management function to share their experience; this included holding a roundtable
discussion titled 'Risks and Opportunities: Responding to Challenges of the Global Economy' as part of
the 12th ATOMEXPO 2022 International Forum.
Risk management process at JSC Atomenergoprom
RMS processes
Organisational model of ROSATOM's risk management system applied in the Company
Director General and
Strategic Council
Risk Committee
Risk owners at the
Corporation and Division
levels
Risk Management
Department/
Risk Officers in
Divisions
Strategic level
Aligning risk management with the Company's
business strategy
Tactical level
Organisation of effective RMS functioning in accordance
with the Company's strategy and established risk
appetite
Operational level
Risk identification and assessment; development
and implementation of risk management
measures
Organisational and methodological support of
RMS processes at the Company and Division levels
RMS methodology management
Methodological support of RMS processes and individual risk management
1
Risk
Risk
identification
Proactive risk
identification at all
management levels,
appointment of risk
owners
assessment
Qualitative and
quantitative
assessment of
the impact on
the Company's
objectives within
different time frames
2
3
4
Risk
management
Planning of risk
management
measures,
Risk
monitoring
Monitoring
compliance with the
risk appetite level
assessment of their
effectiveness
RMS process effectiveness monitoring
Internal and external monitoring of RMS effectiveness
Reporting on risks in the planning process
STRATEGIC MANAGEMENT
BUDGET PLANNING
BUSINESS PLANNING
INVESTMENT PLANNING
Specialised internal control bodies
(independent assessment
of RMS performance)
Key business risks50
As part of the functioning of the RMS, a list of critical risks was compiled; risk owners were appointed; risks
were assessed, and risk management measures were developed and implemented.
Low level
12
High level
11
Critical level
High level
10
1
13
2
7
Low level
9
8
2022 risk assessment
2023 risk assessment
3
5
st
4
1. Currency risk
2. Interest rate risk
3. Credit risk
4. Liquidity risk
5. NFC product and service market risk
6. Electricity and capacity market risk
7. Risk of a decrease in power
generation
8. Health, safety and environmental
risks
9. Risk of loss of and damage to assets
10. Reputational risk
11. Project risks
12. Climate risk (including
environmental risk)
13. Social and political risks
Comprehensive risk management measures largely offset the negative impact of external factors on the
implementation of JSC Atomenergoprom's strategy.
50. The annual report does not contain an exhaustive description of all risks that may affect the Company's operations; it only provides information on key risks.
GOVERNANCE SYSTEM
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