Energy Risk Management

Introduction

Risk and the management of risk are at the centre of all organisations, however, many organisations still take the view that risk is something that is best left to chance despite the growing need to manage business risks as part of the regulatory and prudential management obligations placed on today’s modern enterprise. It can be a source of potential loss or a contributor to poor performance. When understood and managed effectively, risk can create value and success, and risk management is all about driving success and business excellence. Whether an organisation has been in business for decades, in start-up mode, or driven by innovation, the risk is key in daily operations, regulatory compliance, strategy, and projects and transformation initiatives. Capturing value and leveraging value to build a sustainable performance-led organisation starts with risk management and embedded risk-aware culture.

This interactive, highly practical course is designed to equip attendees with a sound foundation in awareness of risk and managing risk. It provides attendees with the confidence needed to discuss risk at all levels in their organisation. The training course covers the risk management framework, including processes, communication, and culture, embedding risk management and the governance of risk, and the systems associated with energy risk management which can aid and support more vital risk management for energy businesses. The emergence of ESG practices is significant for energy businesses. This course will help attendees understand how risk and ESG interact and how ESG Risks are identified and managed.

This GLOMACS Energy Risk Management training course will highlight:

• Overview of Risk Management
• Overview of Energy Risk Management
• Types and Categories of Risk
• Energy Specific Risk Management Tools, Techniques, and Strategies
• Financial Risk Management and its Role in Energy Risk Management
• Operational Risk Management for Energy Businesses
• Risk Accountability Structures, Roles and Responsibilities
• Emerging Risks
• Energy Trading and Risk Management Systems
• The Governance of Risk

Objectives

At the end of this Energy Risk Management training course, you will learn to:

• Develop energy risk management methods and frameworks
• Identify, analyse and measure risk
• Establish suitable risk management structures
• Apply globally accepted risk management practices
• Confidently discuss risk and risk management in the context of an energy business
• The use and applicability of energy trading and risk management systems
• Risk’s role in value creation and sustainable business

Training Methodology

This training course is fast-paced, highly interactive and participatory, and it will be delivered through a combination of presentations, group discussion, role-play and group exercises. This training course is rich in case studies and examples. Multimedia presentations will feature video case studies and the opportunity to hear experts from a variety of disciplines.

Organisational Impact

The organisational impact will be as the following:

• The capacity and confidence for developing long-term energy risk management strategies
• A basis for establishing a common understanding of risk management, including risk terminology and frameworks
• Bringing insight and understanding of the relationship between financial and non-financial risks for energy companies
• How to develop forward-looking indicators to manage risk proactively
• An understanding of the various risk mitigation strategies, tools, techniques, and approaches to ensure risk-taking is within acceptable limits
• Awareness of risk management’s role in driving forward operations, performance, and strategies
• How to approach establishing and monitoring risk appetite and risk tolerance
• Insight to the use of risk / ERM / ETRM technologies as part of the overall risk management architecture

Personal Impact

Upon completion of this Energy Risk Management training course, the delegates will gain:

• A clear understanding of energy risk management
• A sound basis and knowledge of risk management in its role in decision making
• An appreciation of the various types of risk in the energy business
• An understanding of risk’s role in the energy sector
• The skills needed to participate in meaningful risk management and strategy discussions confidently