30 May - 01 June 2017

TCOP Plenary meeting on Risk Management

Vienna, Austria

The main objective of the TCOP 2017 annual plenary meeting held in Vienna was to deepen the understanding of the concepts and definitions related to risk management by the COP members and share the ideas and experiences on how these could be applied to the core national treasury functions in the participating countries. The event also served the forum to review the results of TCOP activities over the last year and to discuss the COP medium-term strategic plan for the future period. The meeting commenced with a conceptual overview regarding risk management in general, and its particular application to public financial management (PFM) and the treasury function specifically. The IA COP was invited to share the results of the work of its thematic group that produced the Risk Assessment in Audit Planning Guide issued by the COP in 2014. As part of its activities, the group invested significant time into studying the concepts and definitions related to risk management. 

1. Presentation „The concepts and evolution of risk management in Public Financial Management ”  Mr. Mark Silins, PFM Expert, The World Bank 

2. Presentation „Risk Management and the Treasury Function”  Mr. Mark Silins, PFM Expert, The World Bank

3. Presentation  ” The Russian Federation’s experience in identifying and classifying risks in treasury operations” Mr. Alexandr Demidov, Deputy Head of the Federal Treasury of Russia

4. Presentation „Green Corridor for automation of low risk transaction. Reorganization of the treasury function following automation”  Ms. Nino Tchelishvili, Deputy Head of the State Treasury Service of Georgia, session Facilitator

5. Presentation “Risk Management: a Review of Business Processes in the Azerbaijan Treasury” Mr. Vugar Abdullayev,  Deputy Head of the State Treasury Agency of the Republic of Azerbaijan


1. Presentation ”PEMPAL Internal Audit COP experience  - presentation of the work undertaken by IA COP to study the concepts and definitions related to risk management” Ms. Edit Nemeth, Vice Chair of IACOP, Head of CHU, Ministry of Economy, Hungary

2. Presentation „Risk Management in Relation to Cash Management in Turkey”  Mr. İlyas Tufan, Head of Department of Cash Management, Prime Ministry Undersecretariat of Treasury

3. Presentation „Hedging of the Risks related to Management of Liquidity on TSA”  Mrs. Ekaterina Semenova, Head of Department of federal budget execution of the Treasury of the Russian Federation

4. Presentation „Risk management as a basis of information security of the MoF”  Mr. Andrey Narchuk, Head of Perspective Development Division, Ministry of Finance of the Republic of Belarus

5. Presentation „Ensuring the continuity business of processes and IT Risk Management” Mr. Nazim Gazimzade, Head of Information Technologies Department, State Treasury Agency, Ministry of finance of Azerbaijan

1. TCOP Executive Committee Report on TCOP 2017 (f.y.) Activity Plan implementation 

2. Presentation ”PEMPAL IACOP experience in organizing community’s activities” Ms. Edit Nemeth, Vice Chair of IACOP, Head of CHU, Ministry of Economy, Hungary