Petrolimex Party Committee's training conference on Risk Management

On November 6, 2024, in Hanoi, the Party Committee of the Vietnam National Petroleum Group ( Petrolimex Party Committee / Group Party Committee) organized a conference to train and update knowledge and skills for the Group's leaders and member units with the topic: Risk Management - A strategic tool for sustainable growth.

Comrade Pham Van Thanh - Member of the Central Enterprises Party Committee, Party Secretary, Chairman of Petrolimex Board of Directors directed the conference.

Deputy General Director in charge of Deloitte Risk Management Consulting Services Pham Hung Anh Ivan shared at the conference

Attending and directing the conference were comrade Pham Van Thanh - Member of the Central Enterprises Party Committee, Party Secretary, Chairman of the Board of Directors of Petrolimex; comrade Dao Nam Hai - Deputy Secretary of the Party Committee, Member of the Board of Directors, General Director of Petrolimex; along with comrades Standing Committee members, members of the Party Executive Committee of the Group; members of the Inspection Committee, leaders of the Party Committee's staff of the Group and representatives of the leaders of the Group's member units attending directly and online at more than 60 connection points.

On the consulting side, there are: Mr. Pham Hung Anh Ivan - Deputy General Director in charge of QTRR consulting services of Deloitte Vietnam, Mr. Nguyen The Manh - Director in charge of QTRR consulting of Deloitte Vietnam.

On May 10, 2024, the Politburo issued Regulation No. 145-QD/TW on the training and updating of knowledge and skills for leaders and managers at all levels. This is an important regulation, demonstrating the orientation of the Party and State in building a leadership team with sufficient qualities, thinking capacity, and vision to lead the country into a new era, an era of national growth as the General Secretary shared. Accordingly, training and updating of knowledge and skills is a mandatory regime for leaders and managers at all levels in general and is one of the criteria for evaluating cadres and Party committees and organizations in enterprises in particular.

As one of the state-owned enterprises operating under the joint stock company model, ranked as a special one, a typical Party Committee under the Party Committee of the Central Enterprises Bloc with a national scale with tens of thousands of cadres and employees as Party members, the Vietnam National Petroleum Group always deeply understands the importance of building, consolidating and developing the Party in enterprises; Party building work at Petrolimex is always closely linked to the implementation of political tasks and cadre organization, in which the Standing Committee of the Group's Party Committee plays the role of the nucleus in orienting and directing the Group's collective leadership to closely follow the policies of the Central and the State in Party building and administration.

Speaking at the Conference, Comrade Pham Van Thanh - Member of the Central Enterprises Party Committee, Party Secretary, Chairman of the Board of Directors of Petrolimex emphasized that petroleum business is a high-risk industry, sensitive to micro and macro economics , therefore, risk management is always a key issue in the Group's production and business activities. Effective risk management not only helps the Group develop sustainably in the context of a volatile domestic and international economic environment, but also contributes to creating stability and safety for the country. Petrolimex must consider effective risk management as the responsibility of the entire leadership team from the Group to its subsidiaries and all officers and employees. In addition, Comrade Pham Van Thanh suggested that leaders of units need to have plans to proactively adapt to the business environment and support effective decision making. The Group always commits to the will and resources for the apparatus to carry out risk management work throughout the Group and its member units. Thinking and approaching the issue from the perspective of Risk Management at all levels of leadership in the entire industry is extremely necessary, contributing to raising the awareness and responsibility of each individual in risk management, creating a foundation for effective risk management implementation at Petrolimex.

At the training session, Deloitte conveyed some very basic information about risk management, the position of risk management in the enterprise; the role of individuals and departments in the organizational system of defense layers to carry out risk management, implementation methods suitable for the organizational model from the Group to the General Corporations, Subsidiaries...; Deloitte also shared information about the list of key risks of some energy business groups in the region (Eneos, Petronas...) and suggested a list of risks for Petrolimex to consider, evaluate and include in the list of key risks,...

The discussion attracted attention when the Group's General Director raised very profound and practical questions for the Group's management and business operations: Is risk management the elimination of risks? Which department is responsible for risk management? The choice of "accepting" and "living with" risks? Is it possible to add a fourth layer of defense? Is it possible to choose to provide services as a layer of defense in the risk control system? As a State-owned enterprise, Petrolimex must comply with both the law and the Party's regulations. Therefore, compliance risks for Petrolimex also need to be supplemented with this content; in addition to the risks suggested by Deloitte, with the context and business conditions of the economic environment in Vietnam and the region, what other risks might Petrolimex encounter?

Some pictures at the conference: