Risk Management - the Realities today

Abstract

The authors consider the risks not as a fragmental negative event, but as a permanent attribute of Russian companies. The article analyzes the process of risk management development in Russian business based on the data from the survey of the research center of Deloitte in the CIS concerning the main problems of risk management formation in Russian companies. The article focuses on the weaknesses in the establishment of risk management divisions in companies. The key risks that modern companies face are identified in accordance with the data of the Federation of European Risk Managers Associations (FERMA). The study allows us to conclude that most Russian companies at present are at the stage of forming risk management, while it is necessary to implement foreign practices and develop risk management techniques taking into account the realities of the Russian economy.