March 26, 2015. Business training on risk management and internal control took off at Uralvagonazov Corporation’s head plant. The seminar aims to train managers in detection, evaluation, and management of risks and in making risk-oriented decisions, the corporation’s press service reports.

‘The training is given by Moscow-based experts in risk management, who will also help the company create a risk management and internal control system, identify critical risk factors, and prepare reports for the top management and the Board of Directors,’ the press service says.

Based on these outside consultants’ suggestion, experts from among the plant’s long-service employees and former managers will be invited to help determine the business’s key risks.

Similar business training has already been given at the corporation’s Corporate Governance Center in Moscow, with over thirty people, including First Deputy DG and heads of departments, taking part. In Nizhniy Tagil, there are over fifty students altogether, many of them middle- and top-level managers. At the end of the seminar, certificates of completion will be issued to all the participants. Training will also be given to managers at the corporation’s other member enterprises in late 2015 and early 2016; internal control and risk management systems will also be developed there.