Development of the Risk Management System
TransContainer regularly identifies risks, annually reviews its risk map, and monitors the identified risks.
To improve the efficiency of the risk management system, the Company’s IT experts developed an automated corporate risk management system launched in 2016.
In 2018, The Company elaborated the corporate risk management system to improve its functionality.
In 2018, the Company continued introducing elements of the risk-oriented budgeting. A financial model helped to identify the key drivers of financial results and to conduct stress tests against key financial and operational metrics.
In 2019, the Company’s efforts to improve the corporate risk management system will be focused on completing the alignment of the corporate risk management system with COSO ERM 2017 and ISO 31000:2018, further strengthening the role of quantitative methods in the risk management system, and integrating risk management deeper into the Company’s business processes.