AlES: development of compliance system

The compliance service has been working at "AlES" JSC since October 2021. The company is actively working to introduce this form of corruption prevention and full compliance with the law.

On June 17, 2022, AlES hosted a meeting on the development of the compliance system in the profile companies of Samruk-Kazyna JSC. The meeting was attended by 19 heads of JSC "Almaty Electric Stations".

– At the moment, compliance services have been created in all portfolio companies and their subsidiaries, – said Dauren Akshalov, Head of the Compliance Service of Samruk–Kazyna JSC. – The group of companies has 77 independent compliance services and 44 divisions, which are entrusted with the execution of anti-corruption compliance functions. Compliance services are directly accountable to management bodies, which ensures their independence from executive bodies. The services created in the Fund apply the best international practices in the field of corruption and regulatory risk management. Internal analysis and monitoring of these risks are carried out, the results of which are sent to the management of companies and government agencies. In line with the new ideology of renewal adopted by the Fund, the role of compliance in ensuring transparency of procurement has been strengthened.

In JSC "AlES" an internal analysis was carried out in 2021. According to the results, 11 possible corruption risks were identified, which were eliminated. For example, by making appropriate changes to the company's internal documents.

– Thanks to systematic preventive work, most employees have zero tolerance for any manifestations of corruption, – said Yerlan Kirkinbayev, Chairman of the Management Board of JSC "AlES".

"AlES" carries out work on checking counterparties for reliability through open sources of information. A standard contract has been developed, a questionnaire for contractors to fill out for affiliation and reliability, as well as a declaration of a potential conflict of interest.

This allows the company to minimize the risk of business relations with counterparties who may be involved in corrupt activities.

– Within the framework of the Compliance Program, the company implements measures to form an anti-corruption culture, a quarterly report on the Plan to Minimize Corruption Risks is considered by the Board of Directors. The initiative information system (hotline) has become another effective tool in the fight against violations of legislation and corruption, Kanat Zhanysbayev, Compliance Officer of AlES JSC, continued.

Every year, all employees of the company are tested for knowledge of the anti-corruption legislation of the Republic of Kazakhstan. Trainings are conducted, memos and presentations for the company's employees have been developed.

The company's compliance service is a driver of changes towards transparency and business integrity.