Risk management is a process that begins with strategy development and affects the entire organization's activities.

It aims to identify potential events that could affect the SSIF and manage the risks associated with these events. SSIF risk management is carried out with the participation of the Board of Directors, the Management Board, the Internal Audit Service, structural units - risk owners, and the structural unit responsible for risk management.  The risk management system (hereinafter referred to as the RMS) of the SSIF is based on the “Three Lines of Defense” model, which offers a balanced approach in determining the roles and responsibilities of all participants in the  RMS: in any organization, each employee bears joint responsibility for risk management within the framework of their functionality.

Main tasks of the RMS:

• timely identification of SSIF risks;
• preventing the realization of risks and reducing their consequences to an acceptable level;
• informing members of the Management Board and the Board of Directors of the SSIF on risk management issues;
• monitoring the impact of risks on financial stability, achievement of strategic and operational goals and on the reputation of the SSIF;
• maintaining local regulations of the SSIF in the field of risk management up to date; 
• development of a culture of risk management in the SSIF, in particular, through training events for employees.
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By the decision of the SSIF Board of Directors dated December 24, 2024, the RMS documents were approved:

RMS Policy - defines the goals, objectives, principles and methods, general organization and processes of the RMS;

RMS Rules - regulates the activities of RMS participants in each process; determines the timing and frequency of risk management processes;

Risk register - a summary table containing the following structured information about risks: name of risks, description of risks, risk owners, causes and factors for the occurrence of risks, description of possible consequences from the implementation of risks, risk management measures, risk assessment;

Risk map is a description of risks presented in the form of a graphic image in which risks are arranged sequentially depending on their level.

At the current stage of operation of the RMS, its implementation is being carried out in the processes of the SSIF, monitoring the state of  

the RMS on an ongoing basis, including by reporting shortcomings in the risk management process identified during ongoing monitoring, with further implementation of corrective actions to eliminate the identified shortcomings.