Corporate risk management in line with international best practice

Programme

• Introduction to the risk management concept. Goals and principles of risk management. International risk management standards
  The evolution of risk management. The need for risk management in a crisis. The development of risk management in Kazakhstan. Goals and principles of risk management.The Australian standard ISO 31000, the standards of the Committee of Sponsoring Organizations of the Treadway Commission COSO 2004-2012. Fundamentals of international risk management standards
• Corporate risk management. Levels of responsibility for risk management
  The role of the risk management system in the corporate governance system. The procedure for determining the level of responsibility for risk management in the company
• Risk identification and analysis. Risk identification methods. Cause-and-effect relationship of risks and their correlation. Risk classification, all types of risks (strategic, financial, operational, compliance risks, country risks, etc.)
  The procedure for identifying risks by applying various risk identification methods (brainstorming, the interview method, the questionnaire method, etc.). Analysing possible causes (factors) of risks and the negative impact of a risk on achieving the set goals and objectives. Conducting a cause-and-effect analysis of risks and decomposing risks into top-level and lower-level risks. The procedure for classifying risks into various risk categories in accordance with the Company's organisational structure
• Risk assessment and analysis. Impact and likelihood criteria in accordance with the international practice of extractive companies
  The procedure for assessing and analysing risks by analysing the criteria of risk impact and likelihood of occurrence in accordance with the international practice of extractive companies
• Financial assessment of inherent and residual risk in accordance with the international practice of extractive companies. Ranking risks on the risk matrix
  The procedure for assessing and analysing risks. The procedure for determining the inherent risk scenario, analysing the risk impact and conducting a financial assessment of inherent and residual risk. The procedure for performing financial calculations for the financial assessment of risks. Practical examples of risk assessment. Determining the risk level on the risk matrix
• Current controls in accordance with the international practice of extractive companies
  The procedure for analysing current controls in accordance with international practice
• Practical development of preventive measures to reduce risks. Risk management methods. Evaluating risk measures
  The procedure for developing preventive measures to reduce risks based on the results of the risk assessment by applying one of the risk management methods. Risk management methods (reduction, transfer, avoidance, acceptance) and practical examples of their application. Practical development of measures, evaluation of risk measures
• Practical preparation of the Risk Register and the risk matrix for it in accordance with the international practice of extractive companies
  Reviewing risk register and risk matrix templates. The procedure for completing the risk register. Practical completion of the risk register and risk matrix
• Practical preparation of risk reporting. Periodic risk monitoring
  Reviewing risk reporting templates and completing them. Deadlines and responsibility for preparing reports. The procedure for preparing risk reports and providing management with the necessary risk information. Practical preparation of risk reports. The procedure for monitoring risks, identification of new risks, detection of materialised risks, revision of risk assessments, revision of risk mitigation measures. Analysis of materialised risks, the steps taken to reduce the consequences of materialised risks, analysis of the consequences of materialised risks. Practical risk monitoring
• Summing up the seminar
  Reviewing training participants' questions, discussing them and providing practical answers