TENEX risk management system (RMS) set up in 2010 represents a complex of the organizational, methodological and instrumental platforms that ensure efficiency and steadiness of the business processes by means of timely risk identification, assessment and analysis, as well as reaction to assure reasonable confidence in attainability of the Company’s goals.
RMS is based on the requirements of the international standards of risk management, primarily on ISO 31000:2009 “Risk Management. Principles and Guidelines”.
The process of risk management implies coordinated activity of the corporate governance bodies, the top-management and all employees aimed at development of the “risk — profitability” ratio consideration culture while making decisions.
The company carries out annual quantitative assessment (Value at Risk) of strategic, financial and operational risks in relation of, primarily, the key economic indicators. The risks are analyzed within the budget period (one year), on the horizon of business planning (up to 5 years) and strategic planning (until 2030).
TENEX uses insurance as an instrument to manage remote risks, the consequences of which may be considerable for the Company (the risks of freight loss and damage during transportation, and the ones of goods and materials loss and damage during production), as well as in the cases defined by the legislation (risk of civil liability for nuclear and radiation damage).