Petrolimex trains and improves risk management skills in 2024

On November 13, 2024 in Da Nang, Vietnam National Petroleum Group ( Petrolimex / Group) launched a Risk Management (QTRR) training program for its staff. This training activity is part of the 2024 Overall Risk Management program of the Board of Directors of Petrolimex.

Petrolimex Deputy General Director Nguyen Sy Cuong gave instructions at the program.

Directly attending the training program were Petrolimex Deputy General Director Nguyen Sy Cuong; Head of Risk Management Board - Petrolimex Board of Directors Pham Thi Dung; and nearly 400 trainees who are leaders and risk officers of the Board of Directors, the Group's professional departments, departments of Business, Finance and Engineering at Petrolimex member petroleum companies.

On the consulting side, there are: Mr. Nguyen The Manh - Director in charge of Risk Management Consulting, Deloitte Vietnam and Ms. Huynh Thi Anh Phong, Head of Risk Management Consulting Department, Deloitte Vietnam.

Speaking at the program, Petrolimex Deputy General Director Nguyen Sy Cuong emphasized that petroleum trading is a conditional business line and contains many risks due to the strong influence of macroeconomic factors as well as fluctuations in the market, prices, supply sources, etc. Therefore, the Group has promptly researched and implemented a risk management framework that approaches good international practices, placing risk management as one of the top priorities in the governance mechanism. Effective risk management helps the Group develop sustainably in the context of volatile domestic and global economies, contributing to the safe development of the country. Risk management is the responsibility of all employees from the Group to its member companies. Thinking and approaching the issue from the risk management perspective is extremely important, contributing to raising the awareness and responsibility of each individual in risk management, creating a solid foundation for effective risk management implementation at Petrolimex.

The training program is also a preparation for implementing risk management work more extensively and effectively, building a process-level risk management system at the Group in the near future.

As the first QTRR training course organized by Petrolimex for the implementation team at member petroleum companies, Deloitte has conveyed quite comprehensively with vivid examples the very basic contents of QTRR of enterprises as well as the actual implementation at the Group, the necessity of QTRR, risk appetite, risk parameters, QTRR stratification, internal control system, QTRR framework and QTRR process at the Group...

Based on the reference to the list of key risks of some large energy corporations in the region (ENEOS, Petronas) and the business context in Vietnam, Deloitte analyzed some key risks that the Group and its member petroleum companies may encounter: fire safety risks, compliance risks, legal risks, cyber security risks, goods management, etc.

The discussion with questions about identifying risks in compliance with the provisions of Decree 123/2020/ND-CP regulating invoices, documents and control measures received enthusiastic participation from staff of many units and specialized departments of the Group. Thereby, it also helps units learn and gain more experience and good methods to best manage risks in managing the use of invoices at their units.

At the end of the training course, the trainees are fully aware that the responsibility for risk management belongs to the entire system, not just to the specialized departments of risk management. Each individual, depending on their position, plays a certain important role in the risk management system, contributing to the good operation of the entire system to minimize risks and ensure the achievement of the Group's goals.

Source: https://www.petrolimex.com.vn/nd/tin-chuyen-nganh/petrolimex-dao-tao-nang-cao-ky-nang-qtrr-nam-2024.html