ХI International Forum «Managing risks in Russia and CIS»

Risks of world financial and economic crisis are a call for all: from the authorities and business to each person. The professional organizations cannot stand away too. A regular Forum of Russian Risk Management Society (RusRisk), which took place on 22-23 May 2013 in Metropol Hotel in Moscow, was devoted to discussion a new calls and opportunities of risk management.

About 100 heads of risk management division and risk managers of industrial, insurance, investment and broker companies, banks, representatives of authorities and expert community, teachers and students took part in it.

A support to the Forum was given by the known companies: «Inter RAO UES», «Willis CIS Insurance Broker LLC», «RGS», «RusHydro», «SIBUR», «Zurich», «GrECo JLT Group», «PROGNOZ», «PM SOFT» and media partners.

One of important issues on the first day during the conference «Industrial Risks and Insurance» was discussion the professional standards of risk management. The basis of the discussion became a standard developed by RusRisk and named «Risk management of the organization», which was approved by RSPP Commission on professional standards in September 2012.

A further advancement in the field of business and education, the creation of national standards for different segments of the economy, a pilot project for the voluntary certification of risk managers was also discussed.

A great interest of participants caused the I. Nikolaev speech, the Director of the FBK strategic analysis Department concerning analysis of macroeconomic risks of Russia and the S. Remes speech - a member of the SIBUR, RUSNANO and several energy companies boards, one of the best independent Directors in Russian business.

Detailed discussion took place at the session devoted to questions of organising an effective corporate insurance (the moderator - A. Elokhin, the head of insurance Department of OJSC Lukoil). Representatives of the leading insurance, broker, estimative companies («RGS», «Zurich», «Willis CIS Insurance Broker LLC», «AON RUS-Insurance Brokers», «GrECo JLT Group», «Matthews Daniel in Russia and the CIS», «American Appraisal CIS», etc.) had discussed such topical issues as: the state regulation of the industrial insurance market, a choice of optimal insurance program and a practice of property value determining, a condition of the world's reinsurance market for high risk facilities, liability insurance of top management, board members and others.

At the second day a serious consideration was given to the problem of financial risk management. A. Lobanov, the deputy director of banking regulation Department in the Bank of Russia – introduced the new rules of state regulation of banking risks. D. Nikulshin from the Ministry of Finance of the Russian Federation devoted his speech to legislative initiatives and current practice in insurance of business and financial risks. A separate discussion was devoted to information technologies in effective risk management in banks and enterprises, which was organized by one of the leading Russian companies in this field – CJSC «PROGNOZ».

During the roundtables at the second day the topical issues of the systemic risks management in credit and financial organizations (moderators: M. Pomazanov, from «Bank Zenit» and S. Zamkovoy, from «NOMOS-Bank») and also questions of creating a risk management culture (moderator: A. Korbut, «ENEL OGK-5») were discussed.

Most speakers have paid serious attention to links between risk management and internal control and audit, business continuity (BCM), integration of risk management systems with strategic business planning, networking with government agencies, the introduction of new standards for risk management (ISO 31000:2009 and GOST R 31000) in corporate environment and state administration.

One of the main RusRisk tasks is consolidation of experience and knowledge of professional risk managers working in the industry, financial and insurance sectors of economy, their high-quality training and certification.

During the Forum a presentation of RusRisk issue named «Risk management in Russia: 10 years of development» prepared and published for the 10th anniversary of the Society took place. This issue presents certain scientific-methodological and practical contribution of the Society members in the risk management formation and development in Russia.

The results of the Forum discussions should help RusRisk to define the position in preparation for the General Assembly (Brussels, 20 June 2013) and the annual Forum FERMA (Federation of European associations of risk management) in Maastricht (September 29-October 2, 2013) and to approve the pan-European certification.

At the end of the Forum the winners of the annual Competition «The Best risk management» were awarded in such categories as a complex risk management systems creation, systems of insurance protection, the best publications, scientific and student's works were highly noted. In the main nomination «The Best Risk-Manager of the year» as winners were recognized Konstantin Babayev from ОJSC «RusHydro» and Anna Korbut from OJSC «ENEL OGK-5».

In General, the results of this Forum have confirmed the growing interest of the business community of Russia and the CIS to practical use of global risk management experience and activity in development of new approaches and mechanisms of overcoming the crisis in the economy.