Risk management standards may not have been drafted with the risk of war in sight, but we operate in a volatile region that is sadly prone to it. Rewards are commensurate with the risks, indeed. However, such rewards can be swiftly reversed if war takes you by surprise. In this presentation, Control Risks will discuss the key ingredients required to pre-emptively manage the risk of war during times of peace, so you can achieve optimal return on investment by transferring, tolerating and/or terminating the risk at the right junctures. Such ingredients include having an early warning system embedded in your security management framework, and having a tested, functional crisis management process that can help you respond and recover rapidly and effectively.
Business impact of this session
- Demonstrate the benefits of early warning systems and regular monitoring as a way to pre-empt losses derived from major geopolitical upheavals.
- Consider available risk management options in case of a significant destabilisation of security conditions in a country in which you operate.
- Understand how geopolitical risk can be embedded in your organisation's wider risk management programme in a world which continues to be prone to crisis and where competitive advantage will belong to well-prepared, resilient organisations.
Ms Sorana Parvulescu, Director, Control Risks MENA, UAE
Sorana is an experienced risk management professional, focused on helping private and public organisations to make informed decisions about new market opportunities, by understanding jurisdiction-specific political, integrity and security risks to their operations. During almost a decade with Control Risks, she has specialised in designing in-house risk assessment and risk monitoring programmes, particularly around security, corruption, and policy risks, to enable clients to build resilience and seize opportunities in a confident, informed way. Some of the sectors of particular focus for her include pharmaceuticals, infrastructure and oil & gas.
Sorana currently leads Control Risks’ geopolitical risk practice for the Middle East and North Africa and is part of Control Risks’ regional management team in Dubai. Prior to this, she was leading our analytical and consulting output in Europe and CIS. Sorana holds an International Risk Management Certificate from the Institute of Risk Management (IRM) and an MSc from the London School of Economics (LSE), both with distinction. She also holds BAs in Political Science and International Economic Relations from two universities in Bucharest, Romania and a postgraduate certificate from the Friedrich Schiller University of Jena, Germany.