Subject: 2020 Annual Operational Risk Report | Pension Agency
From: Bakar <[email-masked]>
To: Natia Turnava <[email-masked]>, [email-masked], [email-masked], olivier rousseau <[email-masked]>
Cc: Avtandil Liluashvili <[email-masked]>, Giorgi <[email-masked]>, Giorgi Chichinadze <[email-masked]>
Date: Mon, 22 Feb 2021 13:48:30 +0000

Dear Supervisory Board members,

In compliance with the Pension Agency's Operational Risk Management Framework document, attached please find the PA’s 2020 Annual Operational Risk Report both the full Georgian version of the report and summary presentation in English. The report describes the identified Operational Risk events of the Pension Agency, assesses their financial and reputation impacts and overviews CRO’s recommendations that are proposed actions designed with the objective to reduce the impact and probability of occurrence of the identified risk events. Lastly, I would like to highlight that the director of PA and his team have already started to effecitvly address the major risk categories.

The risk control department remains at your disposal should you have any questions concerning this report.

Regards,