UNIC and CIPE held a joint webinar on systemic risk management as a basis for competitiveness of Ukrainian business
On 24 April, UNIC organised an online event ‘Moving to the next level: systemic risk management and increasing the competitiveness of Ukrainian business in recovery projects’ with the support of the Centre for International Private Enterprise (CIPE).
According to Oksana Oliynykova, Director of CIPE Ukraine, the war has exacerbated the issue of the inevitability of democratic reforms in Ukraine, which are the key to restoring the state and maintaining our competitiveness in the international arena. ‘The high interest in this event demonstrates that Ukrainian business not only has zero tolerance for corruption, but is also ready to do everything possible to implement the best practices of integrity in its operations. We hope that such practices will help companies move to a different level of development, in particular during Ukraine's European integration process,’ she said.
‘Reputation is the main asset of any company,’ says Viktor Romasenko, CEO of Dialogue Diagnostics, ’Compliance involves creating a business structure that minimises the possible consequences of communication with various government inspection bodies to avoid criminal and administrative liability. It is compliance that allows your business to attract investment, gives you the opportunity to work with the world's largest players, systematically increasing your market share and margins, and supporting the company's sustainable development.’
Lyubov Shevchuk, Deputy Director of KT Cosmetics (Mr Scrubber and Hollyskin brands), noted that the main motivating factor for the company's compliance implementation was the desire to develop. ‘After the full-scale invasion, we significantly increased the number of contractors, and to avoid risks when looking for new people and business partners, the company began to extrapolate internal compliance principles to its potential partners. And it is thanks to the established counterparty assessment system that we have already succeeded in a number of risky transactions.’
‘If you want to be successful both in business and in other spheres of public life, you must adhere to the principles of integrity,’ says Ivan Sakal, CFO of Organic Systems (Agrofusion Group), ’Reputation and integrity are so vulnerable that they should not be neglected. It was thanks to the trust in our company that we managed to attract loans from a number of banks to restore our damaged facilities in the south.’
In the second part of the event, COSA Senior Analyst Andriy Bezsonov conducted a practical training session, during which participants received a detailed analysis of tools and tips for effectively assessing potential business partners and counterparties to avoid risk factors and corruption offences during cooperation.
It is worth noting that this event was a preparatory step for a practical offline training with the provision of tools and documents to improve risk management and implement corporate culture within companies. So, follow our announcements so as not to miss the opportunity to join the event.
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The event is organised by the Ukrainian Network of Integrity and Compliance (UNIC) together with the Center for International Private Enterprise (CIPE) as part of a joint pilot project aimed at strengthening and promoting a culture of integrity and compliance standards among Ukrainian SMEs.
