Established in 1980 with a mission to bring together all state-owned elements of the Kuwait oil sector under one corporate umbrella, KPC now oversees a fully-integrated industry with operations spanning six continents. The sheer size and complexity into which the operation has grown called for an Enterprise Risk Management strategy.

 

Avanon ERM was selected for its versatility and functional coverage to deliver the platform for the ANZ4360-based ERM.

 

KPC’s ERM objectives are:

• Support business growth strategy through the implementation of well-defined and common risk management processes, tools, and techniques
• Develop a common language that helps establish the broad scope of risk, organize risk management activities, and reinforces KPC’s risk culture
• Establish clear accountability and ownership of risk
• Improve the understanding of interactions and interrelationships between risks
• Develop the capacity for continuous monitoring and reporting of risk across KPC, from the operational level to the Boardroom
• More knowledgeably exploit opportunities and quickly identify risks to avoid, both current and emerging
• Improve business value by optimizing risk and return
• Optimize the use of risk-based capital and resources across KPC and its Subsidiaries and Business Units

 

 

Contact us for the full Case Study.

 

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