The awareness of these risks requires maintaining, using, and constantly improving a formalised and integrated enterprise risk management (ERM) system. Its framework is determined by the single Enterprise Risk Management Policy binding in ENEA Group.
At ENEA Group, ERM system is based on the comprehensive approach to the risk management issue and determination of detailed rules for risk identification and assessment. This is the basis for identification of the key corporate risks and for monitoring of exposure to these risks as well as preparing and monitoring mitigation plans. In the case of some corporate risks, such as credit, liquidity loss, FX, interest rate, and commodity risks, the formalised approach to risk management takes the form of dedicated Policies and Procedures. The Procedures describe the process flow of these activities and the methods used in carrying out tests, measurements, etc.
The model functioning at ENEA Group is supplemented by the business continuity management system, the purpose of which is to identify critical processes for the operations of the key Companies of ENEA Group and to implement such actions and procedures that will reduce the risk of process interruption and ensure its continuity in an emergency situation.
The risk management rules adopted are determined on the basis of the highest management standards and compliant with relevant market practice.
The Group uses IT systems to implement corporate risk, credit risk and commodity risk management processes.