RUSRISK – RUSSIA Russian Risk Management SocietyMoscow, on June 4-5, 2014

Increasing of political and economic risks in the world is a subject of concern not only for leaders of the states and a business community, but also for each person. The professional organizations can’t stand aside also. The last Forum of Russian risk management society (RusRisk) which has taken place on June 4 and 5, 2014 in Moscow in Golden Ring Hotel was devoted to discussion risk management new calls and prospects.

About 150 heads of risk management divisions and risk managers of industrial, insurance, investment companies, banks, representatives of authorities and expert community, teachers and students took part in the Forum.

“Willis CIS”, “Rosgosstrakh”, “RusHydro”, “SIBUR”, “Zurich”, “Prognoz”, “PM Software”, “Bureau van Dayk” and also information partners provide a support to the Forum.

The Forum began unexpectedly for many – with unique business game for risk managers which developed an excellent carried out by Alexey Sidorenko (RUSNANO, Risk Academy) and Olga Obraztsova (EY company). On the example of large Russian holding each participant could test himself as the general director who has to make the fast and right decisions taking into account available risks. In opinion and responses of participants, this business game caused a great interest and brought practical benefit for everyone.

Discussion of interaction of internal control system, audit and risk management, practice of RusRisk on development of voluntary certification system, training and creation of new standards on risk management, political risks as factor of investment activity and appeal, other actual problems became one of important question of the Corporate Governance Risks conference in the first day.

The great interest of participants was caused by Mr. E.G. Yasin’s speech, the research head of the National Research University “Higher School of Economics”, the former Minister of Economics of the Russian Federation with the analysis of macroeconomic risks of Russia and Mr. M. Kharms – the chairman of the board of the Russian-German foreign trade chamber with risk analysis and opportunities of trade and economic cooperation of Russia and Germany and in the whole EU. Mr. M. Faleev, the president of the Russian scientific organization of the analysis of risk devoted to risk management of emergency situations the performance.

The second day of the Forum was devoted to insurance and financial risks.

Detailed discussion took place at the session devoted to questions of effective corporate insurance organising (a moderator – Mr. A. Elokhin, the head of insurance Department of JSC Lukoil). Representatives of the leading insurance, brokers, estimated companies (“Willis of the CIS”, “Rosgosstrakh”, “Zurich”, SOGAZ, “The Vienna insurance brokers”, “Greco JLT”, “Matthews Daniel in Russia and the CIS”, “Mensor”, etc.) discussed the following issues:

  • problems and trends of insurance markets in Russia and abroad,
  • how a company should optimize an insurance program,
  • crisis influence on a choice of strategy of insurance protection,
  • the international experience implementation in the risk-engineering,
  • effective settlement of losses and
  • others.

In the second day of the Forum problems of financial risks management were discussed on the independent conference satellite named “The Best Decisions of Risk Management Automation at Financial Institutions”.

Mr. A. Lobanov, the deputy head of bank regulation department at the Bank of Russia acquainted with actual problems of state regulation of bank risks. Mr. A. Blohin from the Ministry of Finance of the Russian Federation stressed the risks of the state programs performance and budgeting.

Within the next two sessions presentations of the best decisions of credit, market and retail risks management were considered. Representatives of the companies “Bureau Van Dayk”, “Prognoz”, “Business Systems Consult” and Zenit Bank offered to banks and other financial institutions modern control systems of these risks.

As a whole, discussions of the most burning issues at the Forum have to help RusRisk to formulate the position for General Assembly (in Brussels, on June 26, 2014) both to the next seminar and celebration of the FERMA 40 anniversary (on October 20-21, 2014) and to approve the plan for the European certification of risk managers.

At the end of the Forum winners of the annual Competition “The Best Risk Management” in nominations: creation the complex risks control systems, systems of insurance protection, the best publications, scientific and student’s works are noted. In

In the main nomination “The Best Risk Manager of Year” as the winner Alexey Sidorenko from JSC RUSNANO is recognized.

Results of the Forum confirmed a growing interest of business community in Russia and the CIS to questions of practical use of world experience of risk management for elaboration of a new approaches and mechanisms of overcoming of a crisis situation in economy.