Risk Management enables the Group to efficiently transform risks into value. By employing the Risk Management system, the Group is able to control and adapt the entire risk portfolio and limit exposure towards certain types of risk. Efficient and prudent risk taking and management gives Triglav financial strength and thus the possibility to cater to the clients' needs, to fulfil the obligations towards them as well as to create value for its shareholders.
The Group has a conservative culture and attitude regarding risks, which are managed state-of-the-art tools. As Risk Management represents one of the most important functions of the Company, an appropriate level of funds must be allocated for the organisational structure, strategic guidelines, staff training as well as regular and continuous risk reviews. The Group's Risk Management system is based on the monitoring and identification of risks. To efficiently evaluate risks, the Group employs a set of advanced tools, designed also for analysing the interconnectedness of risks at the Group level. The same applies for reporting and monitoring which are supplemented by several Rules. A common denominator is transparent information sharing, which builds the basis of this part of the Group's Risk Management system. As a consequence, the Group's operations are more transparent, stable and secure, enabling it to perform well and increase the satisfaction level of all stakeholders in its operations.
Added value of the Triglav Group's Risk Management system
To enable efficient risk taking and risk identification, which form the essence of Triglav's risk management system, all business divisions have clearly defined limits and apply an internal control system for monitoring their operations.
The Risk Management Strategy is defined in a clear and precise manner, in line with Triglav's business strategy. Its goals are to reinforce Triglav's financial stability and strength, to cater to the clients' needs and to fulfil the obligations towards them as well as to increase the value of the Company for its shareholders. Moreover, the Strategy sets out the risk appetite, i.e., the framework and level of risks Triglav is willing to assume and manage. The system is designed to allow transparency and efficient communication.