OREANDA-NEWS. October 20, 2011. Mr. Nikolay Zavrazhnykh, head of the Risk Management Department of OJSC IC ROSNO, participated in the Moscow-based conference "Corporate Risk Management Systems: Best Practices", devoting his speech to analysis and search for risk management opportunities aimed at improving corporate financial performance, reported the press-centre of ROSNO.

Club. It was attended by top managers, financial directors and risk management specialists of such companies as MTS, Integra, Vimm Bill Dunn, CROC, etc. They discussed the most important corporate risk management issues.

Mr. Nikolay Zavrazhnykh delivered a presentation "Search for Risk Management Opportunities Aimed at Improving Corporate Financial Performance".

"The correct understanding of the role of risk management is a critically important precondition for the successful development of this function. A risk management function is primarily intended to protect the company’s operation and capital against the events which are relatively rare yet have a very strong negative effect. Proper understanding of risks enables, firstly, competent equity management through optimization of dividend policy and, secondly, identification and restriction of the company’s risk appetite through specific limits and procedures, instead of just intuitive understanding. Undoubtedly, to achieve the best possible financial performance result, the risk management function must be closely intertwined with internal control and internal audit, thus increasing the importance of control functions and making it possible to avoid serious breakdowns and losses".