Titanium’s fund management, asset management, and investment services are licensed and strictly supervised by the Finnish Financial Supervisory Authority (Finanssivalvonta). According to applicable regulations, the company must maintain adequate internal controls and risk management systems relative to its operations.
Internal Audit
The company’s senior management is responsible for ensuring effective and appropriate internal control and for organizing proper and efficient risk management. All business operations must be considered in risk management, and significant risks related to these operations must be identified. The board of directors is responsible for establishing and approving internal procedures and guidelines for risk management.
The objective of internal audit is to ensure that Titanium’s operations comply with the company’s objectives, policies, operational principles, and applicable industry regulations, as well as with generally applicable law. Through audit activities, internal audit provides Titanium’s senior management with essential information for decision-making and oversight, and aims to prevent regulatory violations, errors, and misconduct. Internal audit reports its activities to the board and provides at least an annual summary of its work.
The company discloses its most significant risks in its financial statements and interim reports. Risks related to Titanium’s business and operating environment were presented in the prospectus published on 21 September 2017 in connection with the First North listing.
Compliance Function
The compliance function ensures that all of Titanium’s activities adhere to laws, regulatory guidance and directives, market self-regulation, and the company’s own internal policies and procedures. The Compliance Officer keeps management informed of changes in applicable regulations and their potential impact on operations, trains personnel on regulatory updates, advises staff on the application of rules in their work, and conducts inspections to verify compliance. The compliance function reports to the board at least annually, providing a comprehensive summary of its activities and observations across all of Titanium’s business operations.
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