Head of Risk Management Deparment
– What were the most significant risks taken in achieving ROSATOM’s strategic goals in 2013, and what measures were taken to reduce them? How would you evaluate the efficiency of risk management in the reporting year?
– The most significant included the risks associated with the nuclear fuel cycle goods and services market, which were affected by the stagnation in demand and the downward trend of prices. In the reporting year, the impact of these risks was largely offset by the signing of long-term contracts using different pricing mechanisms.
The risk management efficiency of an organisation is evaluated by the results of its activities. In the reporting year, the established parameters of risk preparedness were met. But the risk management system has to be continuously developed; otherwise at a certain point, it could fail to meet the requirements of both external and internal environments. The earlier the risk management work starts, the greater the effect of its corresponding measures; therefore it is important to implement risk identification and assessment procedures in the working processes at the planning stage.
– What risks could affect the achievement of strategic goals and the stability of ROSATOM’s business processes in the long term?
– ROSATOM’s long-term strategy is linked to international activity. Therefore the most serious risks are the international political and regulatory ones.
– In your opinion, what is necessary to improve the corporate risk management system, and what are the main priorities for the near- and mid-term?
In the coming years, the main work areas are the completion of the CRMS’s organisational structure and the development of risk management processes in ROSATOM’s divisions.
Also, there are plans to improve the monitoring system, including the integration of indicators describing risks in the system of reporting. This will improve the quality of risk monitoring and allow timely adjustment approaches for their management.
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