May, 28th 2009 there was the VII International Professional Conference “MANAGING RISKS IN RUSSIA. CRISIS AND NEW OPPORTUNIRIES”, which took place in the conference hall “Kebur-Palas”. 
 
              The conference, that was organized by Russian risk management society (RusRisk) with support from Russian Regional Bank Association, RUSSIAN UNION OF INDUSTRIALISTS AND ENTREPRENEURS (RSPP), National Securities Market Association (NSMA), drew much attention of market leading companies and financial institutions.

              Main Sponsors of the event are: Willis, Ingosstrakh Ltd., Euler Hermes Credit Management, Ernst & Young(CIS), PM SOFT, VTB Capital, MARSH, AIG.
Mr. Igor Yurgens Igor, vice president of Russian Union of Industrialists and Entrepreneurs, Chairman of the Board of Trustees, RusRisk, believed that under new market conditions managing risks will essential part of successful business. “Our task is to create and develop informational environment for sharing experience between risk managers, to increase a level of risk management culture in Russia and to make risk management a part of everyday business activities”.
All participants underlined the growing role of risk management in leading Russian companies, especially during the international financial crisis. Today there is hardly any company that doesn’t pay attention to managing risks. This idea run all through the conference.

              Following many speakers, it is very important to change approach to risk management from local to international and to develop relations with the Government. Hence one of the most important tasks for RusRisk is to unit experience and knowledge from professional risk managers working in financial and insurance industries, non-financial sector, and to organize the educational process and certification. Mr. Evgenij Petrosyan, deputy director of Federal Agency of technical regulation and metrology, drew attention to the necessity of development the national standards of risk management using international experience. Moreover, the new standard of risk management ISO 31000 will be approved in June. Therefore, RusRisk initiated the creation of Coordinated Risk Council as part of the Federal Agency on Technical Regulating and Metrology.      

              Mr. Oleg Ivanov, Vice president of the Association of Regional Russian Banks, was talking about the real risks and threats to the Russian banking system. He worried about passive position of the Russian regulators in respect of Russian banks and credit institutions.

              The participants of the conference learnt about new trends and instrument in risk and crisis management during the presentation made by the special guest, Mr.Peter den Dekker, the President of Netherlands association of Risk and Insurance Management (NARIM), director of Federation of European Risk Management Association (FERMA).  
The participants of the Conference were very interested in several issues, that are international and Russian risk management standards, advantages and disadvantages of integrated risk management system, managing financial risks in Russia and CIS, relations between banks and companies under new environment, current investment-banking decisions for non-financial companies, professional education, etc.    
The outcome of the discussion should help Russian participants to take the right stand during the Forum FERMA, Prague, October 2009.

              At the end of the conference the results of the Annual Competition “The best risk management” were announced. There were four nominations – building the integrated risk management system (in industrial, credit and financial institutions), an insurance program, a student research and the best risk manager. Main award “the best risk manager 2009” was given to Mr.Sergej Timohovich, VTB Capital.  

              The conference showed the growing practical interest of top-managers in Russian and CIS companies to use an international experience of risk management in business activities, especially during the current crisis situation.  



The President of RusRisk 
Mr. Viktor Vereshagin