Risk management

Risk is a conscient choice, not a twist of fate ....

 G.Tschampion  

 

RISK MANAGEMENT

 

 

SNTGN TRANSGAZ SA focuses on risk education and intends to build a company culture to change the risk model from a reactive approach to a proactive risk governance model.


Risk Management is a continuous and cyclical process based on the analysis of the company internal and external environment.


SNTGN TRANSGAZ SA continuously reassesses its existing risk portfolio, identifying new exposures and adding value to the company by properly applying the best and most effective risk strategies.


The need for Risk Management to become part of the general management is an important company target. An efficient and effective organizational framework has been created for this purpose, framework supported by the following pillars:

 

  • Statement of commitment on Risk Management; (Romanian language) 
    risc

  • Risk Management Strategy, document setting out the company's position to and approach of risk, the risk tolerance limit, the strategy adopted for the response to the risk, the vision, the specific targets and the measures necessary to meet them;
  • System Procedure PS 05 SMI Risk Management: establishes a unitary set of rules for risk management and the preparation and updating of the Risk Register;

  • Risk profile: provides an overview, including a general, documented and prioritized assessment of the range of company identified risks. The risk profile of SNTGN TRANSGAZ is updated annually;

  • Risk tolerance limit: is the level of exposure to the risk assumed by the company;

  • Internal decisions for appointment and Rules for the organising and functioning of the Monitoring Committee and of the Risk Assessment team.