Keyvan Ilka, board member and head of the Risk Committee, said during the committee’s sixth meeting of 2025 that the scale of operations, extensive assets, and the country’s specific conditions necessitate the establishment of a comprehensive enterprise risk management (ERM) system and the formation of an effective Risk Committee.
Ilka explained that the Risk Committee functions as an arm of the board of directors, overseeing risks across the holding and its subsidiaries, aligning them with corporate goals and strategies, and shaping risk management policies. He emphasized the committee’s role in building a risk-aware culture, while providing assurance to the board and stakeholders that international standards are being applied to risk governance and operationalization.
The committee regularly submits reports to the board, supported by the active presence of skilled experts across subsidiaries, Ilka added.
Highlighting the group’s risk management activities, he noted that training courses, advisory services, regular audits, and the formation of four specialized subcommittees—covering strategic, operational, compliance, and reporting risks—have accelerated the company’s progress toward ERM maturity based on the COMCOVER model. PGPIC has also obtained international certifications under ISO 31000:2018.
Ilka stressed that risk appendices must accompany financial appendices in all new projects to ensure sustainability and success. “Identifying and managing risks is a prerequisite for business continuity and achieving strategic objectives,” he said.
He further described these actions as a strategic step toward securing PGPIC’s position as a national and regional leader, underscoring the company’s commitment to professional risk management and sustainable growth.
The committee, in compliance with stock market regulations and corporate governance principles, includes independent and expert members. Alongside Ilka, who represents shareholders on the board, the committee features prominent figures such as Shapour Mohammadi, former head of Iran’s Securities and Exchange Organization and founding CEO of the Iran Energy Exchange; Fereydoun Rahnamaye Roudposhti, former research deputy at Islamic Azad University and secretary general of the Iranian Financial Engineering Association; and Mirfayez Fallah, former board member of the Iran Mercantile Exchange and Supreme Council of the Stock Exchange.
Ilka concluded that risk management will increasingly serve as a key performance indicator for CEOs and board members. He urged subsidiaries to work closely with the group’s risk management division, adopt forthcoming risk governance guidelines, allocate adequate resources, and present operational plans to achieve full ERM maturity in the shortest possible time.