The survey is titled "Risk Management as a driver of enterprise value in the emerging environment". We would like you to participate in the Risk Management Survey as your responses and view points are valuable to us. The survey would provide you with a good opportunity to benchmark your organisation’s practices with that of other organisations across EMA region. The survey ends on 4 March, 2011.

Take part in the Risk Management survey.

Meeting today’s challenges in implementing ERM

Until recently, many corporations believed that they had the right processes to identify, assess and monitor risks. However, the global financial crisis has forced companies to re-think their approach to risk management. The most important challenges in risk management include:

• Inability to view risk management with a strategic lens – most organisations have implemented risk management with a compliance mindset
• Accountability and ownership for risk management has remained blurred
• The sponsorship at the highest level has often been lacking leading to a weak risk culture
• The lack of risk champions to ensure that the whole organisation looks at risk with a consistent approach
• Failure to understand how much risk organisations are taking on in their pursuit of objectives – resulting from a clearly defined risk appetite and adherence to the same

The survey

Many organisations today are re-visiting their risk management processes to determine how it could be improved to make it a key strategic tool that can strengthen competitiveness and the ability to anticipate and deal with emerging threats and opportunities. The survey will help us address the following big questions around risk management:

• Are organisations able to accurately profile and capture their key risks such that surprises can be avoided, minimised?
• Do organisations have the right tools, techniques and governance structures to identify and monitor the risk exposures?
• Do organisations have an effective risk culture?
• What improvements are required for effective risk oversight at the Board level?
• How well are risk monitoring functions working and is there a consistent enterprise wide approach that breaks up the silos?

The survey will take about 45 minutes to an hour to complete. The results of this survey will be shared with you through a publication due for release in May 2011. This publication will provide a region wide perspective on Enterprise Risk Management practices and challenges including insights into addressing these challenges gathered from respondents and KPMG practitioners across EMA region.

Please note that details of survey respondents and company names will be kept strictly confidential, the survey results will be presented in an aggregate format.

Contact person in Ukraine: Ilya Kotlov, Partner, Risk & Compliance, KPMG in Ukraine.

The survey ends on March 4.

Thank you for your participation!