RusHydro is improving its risk management system.
The annual ICRMS improvement plan is being developed in the areas of methodology, training, updating and monitoring of activities:
- In 2019, the 2019—2020 ICRMS Improvement Plan was approved.
- The RusHydro Management Board approved the 2018—2019 Strategic Risk Management Plan. Updates with the approval of the above plan:
- log of RusHydro Group strategic risks
- implementation indicator system for the strategic risks of RusHydro Group
- list of RusHydro Group strategic risk management activities
- Based on the results of 2018, the Company's Management Board approved a Report on the Implementation of RusHydro Group's Strategic Risk Management Plan for 2018;
- The 2018 Report on the Corporate Internal Control and Risk Management System was considered by the Audit Committee under the RusHydro Board of Directors in 2019 and approved by the RusHydro Board of Directors in June 2019;
- Development of risk management plans for 2019—2020 in controlled companies was discussed and approved;
- The actual implementation of risk management measures in controlled companies is regularly monitored.
Business and operational level:
- RusHydro branches and controlled companies are evaluated and prioritized according to the level of risk and the implementation status of risk management procedures in order to form a risk-oriented plan for RusHydro's internal audit control measures for 2019.
- On a regular basis, the implementation of measures to improve the internal control system of RusHydro's key business processes is monitored, and proposals for the introduction and/or improvement of control procedures in business processes are drafted.