Present, future, actual and potential risk impact on the Group's activity is assessed. On the basis of this assessment, verification is conducted and management practices are adjusted so as to respond to individual risk.
In order to achieve this, coherent and practical risk management methodology in indispensable at the levels of KGHM Group, Divisions and Projects. It must be additionally supported by adequate organisational structure and regulations.
The breakdown of rights and responsibilities at KGHM Polska Miedź S.A. has been based on best practice principles for Corporate Governance and the generally recognised model of three lines of defense.
Performs annual assessment of the effectiveness of the risk management process and monitors the level of key risks and ways to address them.
Has ultimate responsibility for the risk management system and supervision of its individual elements.
Management staff is responsible for identifying assessing and analysing risk and for the implementation, within their daily duties, of responses to risk. The task of the management staff is ongoing supervision of the application of appropriate responses to risk within the tasks realised, to ensure the expected level of risk is not exceeded.
Supports effective risk management and ongoing supervision of key risks.
The Internal Audit Plan is based on assessing, risk and subordinated business goals, assessed is the current level of individual risk and the degree of efficiency with which they are managed.