In order to provide the highest possible value to our stakeholders, our Group gives the utmost importance to the early identification and effective management of enterprise risks that could pose a threat to its existence. Therefore, it is aimed to ensure that enterprise risk management is integrated into the corporate strategies and corporate culture and that all employees focus on risks, opportunities and legal compliance besides their performances in their everyday works, thereby contributing to the sustainable growth of the company. In addition, it is essential that any changes be addressed and managed in line with this policy. In the event of a conflict of interest, the protection of human life and the environment takes precedence in addressing risks.
This policy document emphasizes the importance and priority of establishing and implementing an effective risk management system for the Kibar Group. All our group companies are expected to give importance to risk management practices in line with their field of activity and needs.
Kibar Holding Board of Directors is responsible for ensuring that all group company risks monitored in a consolidated manner, for making community-wide decisions on these risks and providing the necessary resources. The Board of Directors manages this role through "Holding Risk Committee”. Group companies are responsible for adopting this model to their companies and for early identification and effective management of their own risks. Kibar Holding Risk Management Directorate is responsible for the coordination of enterprise risk management activities across the group companies, the establishment and updating of relevant policies and procedures, and also for the execution of necessary activities for the development of the enterprise risk management system.
Under the guidance of the Holding Risk Management Directorate, top management teams and managers of our companies are responsible for early identification of their companies’ risks, creating the platforms to evaluate the risks accurately and manage them effectively, determining strategies and actions for the effective management of these risks, participating risk assessment workshops and following up established risk management action plans, establishing company-specific policies and procedures for risk management and monitoring that processes are managed within these policies and procedures, preparing risk management reports and issuing the reports after accurate, complete and timely analysis of risk management data. All our employees are liable for identifying, measuring and effectively managing the risks regarding their own processes.
With this policy document Kibar Holding Risk Committee announces to all stakeholders, its determination, commitment and support in ensuring, improving and enhancing risk management systems and implementations in all Kibar Group Companies.