DEWA organises 2nd annual Enterprise Risk Management Conference

Thursday 08 October 2015

Dubai - MENA Herald: Dubai Electricity and Water Authority (DEWA) has today organised the 2nd annual Enterprise Risk Management Conference 2015, at Madinat Jumeirah, Dubai. The conference was held under the patronage of HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council, and in partnership with the Institute of Risk Management (IRM). The conference aims to promote enterprise risk management in organisations across the region, and raise awareness about risk management in the public and private sectors.

In his opening speech, HE Saeed Mohammed Al Tayer, MD and CEO of DEWA, highlighted the importance of enterprise risk management policies, and related practices and expertise. Al Tayer also received the ISO 31000 certificate from the British Standards Institution. DEWA has built a risk management system according to the certificate’s requirements, to ensure achieving its strategic objectives by developing policies, procedures, and guidelines related to safety and mitigating negative impact of risks if they occur.

The conference was attended by HE Abdullah Abdul Rahman Al Shaibani, Secretary General of the Dubai Executive Council, HE Major General Mohammed Ahmed Al Marri, Director General of the General Directorate of Residency and Foreigners Affairs in Dubai, HE Dr. Rashid Al Leem, Chairman of Sharjah Electricity and Water Authority, HE Ahmed Al Muhairbi, Secretary General of the Dubai Supreme Council of Energy, Executive Vice Presidents and Vice Presidents of DEWA, a large number of participants from the public and private sectors, representative from IRM, risk management experts and professionals, and representatives from government organisations and  decision makers in different sectors including aviation, finance, energy, and infrastructure.

“I welcome you today to the second annual Enterprise Risk Management Conference, which we organise to support the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and the objectives of the Dubai Plan 2021, to enhance government services to serve the people and achieve their happiness and comfort. The conference is held this year under the patronage of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council,” said Al Tayer.

“The objective of this conference whose theme is World Risk 2015, and is held in partnership with the UK Institute of Risk Management, is to promote the concept of enterprise risk management, and build awareness about it, especially among government organisations in Dubai. Risk management, and cyber risks in particular, is a major international topic that countries discuss. I would like here to refer to the talks held lately between China and the United States of America on cyber security and combating cyber-attacks. To keep up with these global developments, this year’s conference brings together risk-management experts and local and international decision makers in all sectors including aviation, finance, energy, infrastructure, and consultancy. Through DEWA’s experiences and expertise, we provide a comprehensive platform, that showcases the best practices in this area,” added Al Tayer.

“DEWA is the first organisation in the Middle East to apply the SAP system for risk management and adopt the ISO 31000-certified global best practices and the most integrated management systems in enterprise risk management that are closely linked to its planning and strategy. DEWA has also started implementing SAP Governance, Risk, and Compliance (SAP GRC 10.1-HANA) system, which is part of our strategy to use the latest technologies and solutions in our operations,” added Al Tayer.

“DEWA is driven by its vision to become a sustainable innovative world-class utility, by adopting comprehensive enterprise risk management systems that study all possibilities and risks that might impact its strategic plans and operations, take preventive measures and develop alternative plans for better corporate results and enhance DEWA’s global competitiveness in all its areas of work, including enterprise risk management, cyber security management, business continuity management, supply chain risk management, and the risk management of major projects,” noted Al Tayer.

“Based on our commitment to promoting and developing enterprise risk management and its efforts to limit risks, DEWA has won prestigious awards for this, including the Commitment to Learning and Development award at the Global Risk Awards 2015, managed by The Institute of Risk Management (IRM) in the UK. The award recognised DEWA’s achievements in risk management and adopting global best practices. DEWA is the first organisation in the Middle East and North Africa to win this award. DEWA also won the Global Risk Management Award 2013, in the category of Developing Risk Management Capabilities, during a ceremony organised by the IRM,” added Al Tayer.

“Developing risk management plans has become crucial in enterprise strategic planning, as it helps to deal with risks and emergencies, effectively and efficiently, and avoids negative impact on the organisation's performance. Through this conference, we will work to raise standards of risk management strategies, and apply the methodology in an integrated manner that will identify risks that could affect financial, operational, strategic, environmental, and health and safety aspects, and develop preventative plans. We hope this conference will lead to fruitful partnerships in risk management policies,” concluded Al Tayer.

This was followed by speeches by Felix Baumgartner, the Swiss skydiver who jumped from a balloon at a height of 39 km, on the edge of space, breaking a number of free-fall records, Tim Harford, a renowned economist and journalist, and Ian Livesey, CEO of IRM. The conference included a specialised sessions on Sustainability, Security Risk Management, Developments in ERM. This was followed by a session on Creating a Risk Management Culture, and Professionalism in Risk Management.

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