Effective Risk Management System Research Articles

Features of the functioning of the compliance control system in agriculture

The paper presents the results of the analysis of the characteristics of the use of compliance control in the practice of agricultural enterprises. The relevance of the study on the selected issue is due to the fact that compliance control forms a systemic focus of management processes within an agricultural organization that ensures effective risk management, economic security and sustainability. Within the framework of the article, the theoretical aspects of the concept of "compliance control" are considered. The interaction of compliance control with compliance with antimonopoly regulation legislation is analyzed. The role of the internal control mechanism of an agricultural enterprise in compliance control is determined. The main methods and tools of the risk management system, which ensures the achievement of the goals of compliance control of an agricultural organization, are considered. The risk management system in an agricultural organization promotes the application of measures and solutions that reduce the negative impact of the risks of the internal environment and threats to the external environment. This is carried out using the mechanism of early detection of factors leading to risks and threats to the enterprise. The controlling procedure in monitoring the effectiveness of the financial and production activities of an agricultural organization ensures the functioning of the accounting system and economic security. The authors come to the conclusion that an effective solution for organizing an effective risk management system in an agricultural enterprise is an unconditional combination of various methods. Each of them is used for certain types and forms of business threats. With regard to the general mechanism of compliance control, its use in the practice of agricultural organizations of the Russian economy is due to the need to comply with various regulations, obligations and rules on which the economic security and efficiency of commercial activities depend. In the current conditions of instability, compliance control is gaining great practical value and popularity among agricultural enterprises.

Credit Risk Management and Its Impact On the Performance of Commercial Banks in Pakistan: An Application of Penal Var Approach

Credit risk is nothing else but the default by the borrower. Credit risk management practices are adopted by the banks to mitigate this risk. It is crucial for every bank or financial institution to follow the effective risk management system to avoid or mitigate the credit risk. This paper is an attempt to investigate the effect of default or credit risk management on the financial performance of banks and how factors of CRM affect each other. VAR approach has been used to analyze the penal data. Sixteen private commercial banks have been taken into the consideration. Data has been collected from the year 2012 to 2021. Granger causality and impulse response have also been identified and analyzed. E view has been used for the purpose of analysis. Results of Granger causality reveal that almost all the variables are affecting or explaining each other. There is a bidirectional association ship between LTDR and ROE. In variance decomposition analysis, all the variables are mostly being affected by themselves or by their own shocks and shocked of other variables. Finally, short term relationship has been found or identified through VECM. This study is helpful for all the stakeholders of commercial banks. This study is also helpful for the students using penal var approach for understanding and analysis purpose. This study is also helpful for the decision makers to frame policy of credit risk management and see how effective risk management affects the financial health of commercial banks.

Risky Business: Critical Reflections on the Sources of Information for Risk Analysis Under the German Supply Chain Law and Some Ramifications for Global South Stakeholders

Like other mandatory Human Rights Due Diligence (mHRDD) laws, the German Supply Chain Law, the Lieferkettensorgfaltsplichtengesetz (LkSG), imposes a number of due diligence obligations on covered companies geared towards protection of human rights and the environment in the value chains of Transnational Corporations (TNCs). More specifically, as per Section 4(1) in-scope companies are expected to establish an effective and appropriate risk management system that will enable them to comply with their due diligence obligations. As part of establishing such a risk management system companies must “conduct an appropriate risk analysis…to identify the human rights and environment-related risks in its own business area and at its direct suppliers” (Sec 5. (1) LkSG). This contribution argues that a proper risk analysis is the cornerstone of an effective risk management system, and ultimately of compliance with due diligence obligations. It is therefore necessary to interrogate how covered companies carry out such risk analysis, and crucially, what sources of information they use for this purpose, as well as how they secure such information. Using the CSR Risk Check tool as an exemplar this contribution will critically analyze the pitfalls of carrying out risk analysis in ways that continue to entrench asymmetrical relations between Global North and Global South actors.

ПРОБЛЕМЫ УПРАВЛЕНИЯ РИСКАМИ В СФЕРЕ ИНФОРМАЦИОННОЙ БЕЗОПАСНОСТИ

The deals in issues of the risk management in the field of information security (IS). It considers the main factors that can lead to a violation of information security requirements, such as vulnerabilities in the system, human errors and actions of intruders, various approaches to IS risk management, including technical and organizational measures. Special attention is paid to the importance of the risk management system for business in general and for individual organizations in particular. The article offers practical recommendations for managing IS risks and evaluating the effectiveness of such a system. The results and conclusions presented in the article can be used to optimize the IS risk management system in organizations of various industries. An important aspect emphasized in the article is the ongoing adapting and updating the risk management system in information security according to the changing situation and technological development. Through the suggested recommendations and assessments of the effectiveness of the IS risk management system, organizations can improve their ability to prevent security incidents, minimize data loss, protect reputation and comply with legal requirements. Ultimately, an effective IS risk management system becomes an integral part of the business strategy, contributing to sustainable development and ensuring long-term success.

ЕКОЛОГІЧНІ ВИМІРИ ЗАБЕЗПЕЧЕННЯ ЕКОНОМІЧНОЇ БЕЗПЕКИ НАЦІОНАЛЬНИХ ЕКОНОМІК

The academic paper is devoted to studying the environmental component in the system of economic security of national economies. The author has demonstrated that environmental degradation and climate change pose a threat to modern sustainable development in every country in the world. As a result, the development of an efficient system for accounting for and monitoring environmental indicators is a prerequisite for the creation of an effective environmental risk management system. The scientific article provides a systematization of environmental indicators, the change of which affects the sustainability and security of development. The proposed approach is based on an algorithm that provides for the implementation of sequential actions within the framework of establishing a system of environmental security indicators, substantiation of the essence of each indicator from the standpoint of independence, sustainability, stability, and dynamism of national economies; systematization of indicators by the nature of their impact on the level of economic security, calculation of threshold, critical, and permissible values that can be used in the system of monitoring economic threats, determination of methods of normalization of individual parameters, which will ensure their reduction to a comparable form and allow aggregation into the appropriate structure of the final integrated security index. Using the tools of multidimensional evaluation, an integral index of the environmental component of economic security is proposed, which in turn is based on indicators of energy intensity, level of renewable energy consumption, level of renewable energy generation, air quality, carbon intensity index of the economy, environmental efficiency index, green growth index. The proposed methodology makes it possible to assess the level of security and classify countries by the state of development security, to identify areas of security/danger (risks) by indicators, in particular, environmental ones. The practical application of the proposed toolkit enabled the ranking of EU countries and Ukraine by the level of environmental safety, grouping them by the level of danger, which will allow taking these features into account when developing measures to increase the level of sustainability of economic development, considering environmental aspects.

СИСТЕМА УПРАВЛІННЯ РИЗИКАМИ У МИТНІЙ ЛОГІСТИЦІ

The article examines the main tasks of the concept of the risk management system in customs logistics: information space, development of universally innovative programs for identifying risks and their fixation, necessary resources for optimal distribution, risk minimization, damage assessment, customs control strategy. The process of risk management in customs logistics is considered in stages: in the first stage, the collection and processing of information about goods and vehicles moving across the customs border is carried out. An important factor determining the validity and effectiveness of the decisions made is the completeness, promptness and reliability of the information used for the development and implementation of measures to prevent and minimize risks. At the second stage, identification and assessment of risks is carried out. This stage involves the determination of: a set of risk-creating factors and conditions; customs operations, during the implementation of which there is a possibility of violation of customs legislation; criteria that make it possible to assign goods and foreign trade operations to the group with dangerous conditions. The third stage of risk management is the development and implementation of measures, when applying the risk management system in customs logistics, risk reduction programs should be developed, inspections of the financial and economic activities of enterprises participating in foreign economic activity should be carried out, risk profiles should be constantly updated, and control indicators should be monitored. The fourth stage of the risk management process involves summarizing the results of the measures taken and making adjustments. The development of an effective risk management system and its system-forming components is one of the most important directions for improving customs logistics mechanisms today. The risk management system is an effective mechanism aimed at ensuring the interests of all subjects of customs legal relations – both customs authorities and the state in general, as well as conscientious subjects of foreign economic activity, which corresponds to the general trends, principles and standards of modern customs administration, as well as is confirmed by international and, accordingly, national priorities of customs policy.

Risks of IT technology adoption

Automation of technological processes and digitalisation of various spheres of the economy are among the key management tasks. The main threats and risks to development include cross-border threats and illegal use of information and telecommunication technologies, including computer attacks on the information infrastructure and means of communication. The primary task in solving problems of cyber security is introduction of domestic technologies and software products. In this article, we consider the risks of adopting new IT-technologies. Initially, the risks at each stage of project implementation and introduction of IT-technologies were identified, then the methodology of risk assessment was applied based on the determination of risk probability and degree of negative consequences realization (losses for the organization). Each risk was assessed taking into account two items. The first is the probability of risk occurrence. The second is the danger of risk or adverse consequences (losses) which arise at the organisation in case of its realisation. To determine the degree of risk of risks, 4 priority groups were allocated, the weighting values of the groups, and the risks were calculated. Subsequently, each risk was assessed and the risks of implementing new IT technologies were ranked. The research showed that the main risks of IT implementation include innovation risks, information security risks, risks connected with decrease of productivity and capacity of information systems, with changes in the project budget, miscalculations in selection of techniques, equipment, its installation, insufficient qualification of executors. The grouping of risks by stage of their occurrence showed that the risks increase and have the highest aggregate assessment at the stage of operation. Risks are managed throughout the life of the project, but the ability to manage risk decreases as the project progresses towards completion. Identifying, assessing and ranking risks is the basis for developing an effective risk management system

Analysis of Yihai Kerry's Hedging Value

After conducting a SWOT analysis of Yihai Kerry, this paper analyzes the causes of its 2020 hedging failure in terms of its personnel management, hedging system, and strategic positioning respectively. Several scenarios are reasonably hypothesized based on the analysis before, the pursuit of personal performance influenced the trading mentality of the company's traders, while the company's oscillating decision between profitability and hedging made the hedging system and positioning of Yihai Kerry unclear, and under the influence of multiple factors, it suffered huge losses in the volatile futures market. This paper also proposes corresponding solutions to these problems. The research suggests that Yihai Kerry should sort out its own investment philosophy, establish an effective risk management system with clear strategic positioning and trading objectives, introduce and train professional quantitative researchers and traders, develop trading strategies based on the company's own characteristics, and reasonably use options and futures instruments to help the company better risk management.

Administrative and legal characteristics of digitization in the field of customs affairs

Customs procedures for the crossing of goods and vehicles across the border play an important role in the system of customs policy instruments. Ukraine’s international trade is developing at a rapid pace, in particular, there is an increase in the volume of imports of goods into Ukraine, in view of this, international organizations are increasing the requirements for the unhindered entry of foreign goods into the domestic market of Ukraine, therefore there is a need for constant improvement of customs control procedures in Ukraine in the field of digitalization of the customs space state
 Thus, the World Customs Organization defined approaches to speeding up and simplifying customs procedures in its program documents – the International Convention on the Simplification and Harmonization of Customs Procedures, Framework Standards for Security and Facilitation of World Trade. Since Ukraine aspires to full membership in the EU, the course of its customs policy should be aimed at improving the digitalization system atcustoms.
 It is quite obvious that speeding up and simplifying customs procedures is not possible with the use of old technologies based on paper documents. Here, information customs technologies come to the fore, the basis of which is electronic document flow. The introduction of electronic document circulation makes it possible to significantly reduce the time for receipt, processing and decision-making regarding the movement of goods across the customs border of Ukraine, the release of goods into free circulation, reduce the risks associated with customs offenses and smuggling, which in turn will ensure the growth of goods turnover, and therefore, an increase in revenues to the state budget.
 Therefore, today there is an urgent need to speed up the process of digitalization of customs policy in order to improve the effectiveness of customs procedures in Ukraine, review approaches to ensure their effectiveness and form an effective customs risk management system. The customs structure of the state must have powerful information support in the form of a qualitatively built system of information and analytical support. This can be achieved by creating a system of information modules. That is why the new stage of development of the customs system of Ukraine is impossible without the development of network information support. Information digitization of customs procedures should correspond to electronic business, trade and electronic foreign economic documents.

Prudential Principles in Murabaha Financing in Sharia Banking During the Covid-19 Pandemic

The outbreak of coronavirus disease 2019 (covid-19) globally has had a direct or indirect impact on the performance and capacity of customers (debtors) in fulfilling their obligations to financing payments, which impact on performance and capacity of debtors and will increase the risk of Murabaha financing which has the potential to disrupt banking performance and financial system stability so that it can affect the community's economic growth as a countercyclical. This study aims to determine the application of the prudential principle in Murabaha financing during the Covid-19 pandemic, using normative juridical research methods, and primary and secondary legal materials as well as primary data as supporting data. The legal research materials used are primary and secondary legal sources. Data was analyzed descriptively that finally was concluded deductively. The results of the study show that in applying the prudential principle, Islamic banks are required to apply an assessment of prospective customers based on the 3C principles (Character, Capacity, Collateral), namely an assessment of the character of the prospective customer, business feasibility, and collateral submitted to Islamic banks. Furthermore, a Murabaha financing restructuring program is needed in the form of restructuring, rescheduling, and settlement of financing payments through the execution of customer assets. It is recommended that in Murabaha financing during the Covid-19 pandemic, Murabaha Product Standards and their alignment with fatwas, sharia standards, and Compilation of Sharia Economic Law are needed including alignment with Financial Services Authority Regulation (POJK) No. 11/POJK.03/2020, PJOK Number 48/POJK.03/2020, and POJK No. 17 /POJK.03/2021 concerning the Second Amendment to POJK No. 11/POJK.03/2020 concerning National Economic Stimulus as a Countercyclical Policy for the Impact of the Spread of Coronavirus Disease 2019. In addition, it needs a good and effective risk management system, relaxation of financing according to the conditions of customers affected by the Covid-19 outbreak, and submission of relaxation requests can be made without physical customer contact.

DIGITAL ECONOMY: DEVELOPMENT PROSPECTS AND POSSIBLE RISKS

The formation of a digital economy is one of the current trends of our time, opening up new prospects and opportunities for the development of high-tech business, improving public administration, and improving the quality of life of people. However, digitalization contains challenges and threats, in particular to the national interests of the country in the economic sphere. The article analyzes the main risks and threats to economic security associated with digitalization and identifies two groups: risks resulting from digitalization and risks that hinder digitalization. It is noted that the maximum use of the benefits and advantages that digitalization brings, and the neutralization of potential threats require active regulation by the state. The most important document that determines the development of digitalization in the country is analyzed — the national program “Digital Economy of the Russian Federation” from the point of view of taking into account potential threats and risks of the development of digital processes in its constituent federal projects in order to neutralize their possible negative impact on the socio-economic sphere. Based on the assessment of the implementation of the national program, the types of risks that may hinder its effective implementation have been identified. In order to create an effective risk management system that arises in the process of digitalization, it is proposed to form at the federal level a unified standard classifier of the risks of implementing the digital transformation of the economy and, on its basis, a register of identified risks. The organization of systematic work to identify and neutralize risks will contribute to the successful digital transformation of the country.

Risk analysis of biological hazards in food industry in terms of Public Health

Abstract Numerous pathogens are transmitted via food and according to recent surveys, there are millions of incidents recorded in Europe in the last decade. More specific, foodborne pathogens such as bacteria, fungi, parasites, and viruses can be detected in different stages of production or distribution of a food product. Examples of predominant symptoms caused by these foodborne pathogens are nausea, vomiting, diarrhea, cramps, fever, headache, cough etc. Therefore, it is essential need to detect, manage, and prevent of foodborne pathogens “from farm to fork” regarding consumers health risks. Europe has established and suggested management systems in food industry that control hazards in food products. However, outbreak incidents by foodborne pathogens existing until now. By using PRISMA guideline, we searched for the most recent publications referring microbiological risk assessments from online databases Scopus, PubMed and Science Direct. From 505 articles initially captured, data was extracted from 84 studies regarding microbiological risk factors in terms of food quality and safety, that are evidenced in European studies. Moreover, information about country of origin, food type, production phase and technology used for detection of pathogens, are also presented. Our results indicated that quality systems should be further developed to control all possible routes of contamination in the supply chain. This work provided information to managers in food industry and scientists for further research regarding microbiological risk assessments. Implementation of effective risk management systems in food industry could contribute to identify and eliminate potential risks and thus, consumer’s health and food quality could be reassured. Therefore, our findings could provide managers in food industry either to build up more effective management systems or even help scientists to better understand ecology of pathogens regarding food matrix and environmental conditions. Key messages • Risk analysis of biological hazards in food industry could prevent foodborne diseases. • Risk analysis of foodborne pathogens is important for public health.

DETERMINATION OF THE EFFECTIVENESS OF RISK MANAGEMENT SYSTEMS IN THE ELECTRICITY INDUSTRY

Electrical power companies are operating today in a turbulent environment characterized by changes in energy regulatory policies, opening of the electricity markets, competition and a subsequent loss of market share, increased customer demand, increased expectations from stakeholders; price volatility of electricity, fuel and CO2 emissions; difficulties in securing fuel supply routes, difficulties in securing transmission facilities at acceptable prices and other factors. An effective risk management system can permit an enterprise to recognize opportunities and react to change at the right time, i.e. to protect and increase the company value. In this paper, a hypothesis is presented that there is a correlation between the effectiveness of a risk management system and market competitive intensity, MCI. For the purpose of testing this hypothesis, an index has been developed to measure the effectiveness of a risk management system. The results of research conducted on a sample of twenty—one electrical power companies operating both inside and outside the countries of the European Union confirm this hypothesis.

MATHEMATICAL MODELING OF RISK ASSESSMENT OF ENTERPRISE MANAGEMENT

The article considers the issues of selection and use of management tools and methods, development and selection of enterprise strategy taking into account risks. The author's understanding of the risk management process is given, the basic principles that guide the development and implementation of risk management strategy at the enterprise are listed. The development of a risk assessment algorithm is proposed and the features of individual elements of the integrated risk assessment flowchart are characterized. In the paper, attention was drawn to the differences in the qualitative and quantitative risk analysis, the peculiarities of their methodology were determined. Considerable attention is paid to the definition of risk assessment methods, methods of risk minimization are listed, and as a result, the definition of the term "risk" is generalized. The methods of formation of enterprise strategy, which can be represented by three groups: portfolio analysis methods, mathematical methods, forecasting methods, are investigated. It is determined that modern methods of enterprise management and mechanisms for making key decisions in business imply the need to develop a procedure for both substantive and quantitative accounting and assessment of the entire range of possible uncertainties and risks that accompany the market activity of the enterprise. It is shown that most of the risks to be taken into account, quantified and accounted for in the economic and mathematical model of the enterprise, cover two main activities of the enterprise, and are integrated into the concept of risk management assessment: production and financial sphere. An economic and mathematical model of choosing the optimal strategy of the enterprise, taking into account the risk factors of management, according to the criterion of maximizing the amount of consolidated cash flow from operating and financial activities, which reflects both the production and technological conditions of the enterprise and the peculiarities of decision-making in the commodity and financial markets, is built. This optimization model is implemented to solve the problem of choosing the optimal management strategy taking into account management risks. However, all these methods start to work when the risk is realized (or must be realized) in losses and damages. Such an approach to building an effective risk management system does not comply with the principle of proactivity: it is not necessary to include in the cost estimate of the enterprise the costs of eliminating the consequences of the risk, it is necessary to include the costs of preventing the risk. With this approach, preventive and adequate measures can reduce the cost of risk, as well as choose the optimal level of risk, which is determined by the minimum cost. The results of the analysis show that most of the known methods of forecasting and risk assessment are inapplicable in conditions of unpredictability. The situation with the application of risk management tools is slightly better. Dissipation and insurance, as well as diversification of activities and the creation of funds and reserves are at least limitedly applicable. The presence of a risk assessment and coordination system at the enterprise will make it possible to identify existing risks, determine the level of danger and, using certain methods and tools of risk management, reduce their negative impact on the financial and economic activities of the enterprise. Currently, the approach to risk assessment is being transformed, as new challenges require fundamental changes in risk assessment and modeling systems.

Risk and Risk Management in the Public Sector : A Theoretical Contribution

All public and private sector organizations are vulnerable to internal and external integrity risks, such as fraud and corruption and others. In the absence of mechanisms to identify, analyze and manage these risks, they can have negative consequences such as economic losses, security applications and reputational applications. In turn, these impacts can erode citizens' trust in public services and trust in government. In order to preserve the integrity of public sector organizations, effective risk management systems are essential, especially in high-risk areas, such as financial management, information technology, fraud and corruption among others. in a context characterized by an uncertain organizational environment. By adopting a risk-based approach, public sector organizations can apply laudable controls that strengthen oversight, without unduly burdening the organization or impairing efficiency. At the same time, it can reduce the perception of excessive control burden among staff and thus reinforce their full commitment to integrity. The objective of our article is to define new concepts relating to the study of risk and risk management in the public sector.

Building an effective personnel risks management system of the organization

The object of this study is a technique to reduce the personnel risks of an organization operating in a developing country under difficult conditions in order to improve the efficiency of staff. The form of ownership of the organization is state-owned, the number of employees is 120 people. The duration of the period for assessing the effectiveness of staff work and monitoring the impact of personnel risks on the organization is 4 weeks. It has been established that the organization has an integrated personnel risk management system. It enables fulfilling an average of 74 % of tasks and is not effective. Given this, an integrated personnel risk management system was developed based on the European approach. For this purpose, using technology transfer, information was obtained on the functioning of an effective personnel risk management system. After that, it was improved taking into consideration the peculiarities of the functioning of the organization when performing tasks. In addition, hard- and soft-skills of personnel were taken into consideration, thus, the complex effect of factors increasing the organization's resilience to personnel risks was taken into account. To implement the personnel risk management system in the organization's activities, a road-map was developed. Duration of implementation – 3 weeks. To assess the effectiveness of an integrated system for combating personnel risks, a comparative method was used for the qualitative and quantitative effectiveness of the tasks of 4 teams of the organization. Two of them worked according to the standard personnel risk management system, and 2 – according to the implemented one. The comparison was performed with the available data on the effectiveness of identical tasks for a period of 4 weeks. It has been established that the implemented comprehensive risk management system is effective, as it provides 100 % fulfillment of tasks under difficult conditions. The developed system can be used to improve the effectiveness of the tasks set for organizations in developing countries.

ESG Concept As The Newest Determinant Of Corporate Risk Management Strategies Of Multinational Enterprises

Within the rapid development of the world economy in recent decades, the growth of stable financing, including the increase in the number of relevant financial products, the attention of investors, politicians and various stakeholders in civil society has been drawn to the potential of multinational enterprises (MNE) to bring financial returns in accordance with social values and to make their contribution to overall macroeconomic stability and the fight against climate change. In particular, investing according to the concept of environmental, social and governance (ESG) has become a leading form of sustainable financing and has moved from early stages of development to mainstream financing in a number of leading countries. ESG ratings applied to MNE, which accounted for about 80% of the global economy's market capitalization in 2020, have evolved in recent years to incorporate long-term financial risks and opportunities into investment decision-making processes. An effective risk and opportunity management system, as well as appropriate risk management strategies, are an important component of the effective implementation of the ESG concept in the activities of MNE. A significant role is played by the risk management system of MNE in the areas of environmental factors (environmental) and the latest system of corporate governance (governance).

Об основных направлениях методического обеспечения эффективного управления банковскими рисками

The article is devoted to the role and importance of qualitative methodology in the creation of effective bank risk management. The paper analyzes the main problems faced by banks in the development of modern methodology and identifies key areas of innovative methodology of risk management in the modern conditions of digital economy. As a result of the research, it was highlighted that the qualitative methodology of bank is the most important aspect of creating an effective bank risk management system. It led us to the conclusion that it is necessary to constantly improve and develop the internal risk culture of the bank by regulating certain norms in internal regulatory documents. The development of methodology for bank risk management for the purposes of identification, localization, measurement and subsequent control will allow solving the main problems of risk management. At the same time, in the process of creating a high-quality internal regulatory framework, the specifics of the commercial bank's activities, the risks they face, as well as the tools used by banks in the risk management process should be taken into account.

ОРГАНІЗАЦІЙНІ АСПЕКТИ СТВОРЕННЯ ІНФОРМАЦІЙНОЇ СИСТЕМИ УПРАВЛІННЯ РИЗИКАМИ ПІДПРИЄМСТВА

Issues related to the organization of information provision of risk management processes at the enterprise, in particular the development, implementation and development of information risk management system. The purpose of the article is to consider the theoretical foundations for information support of risk management processes and development of proposals for the implementation of the project implementation of information risk management system of the enterprise. The methodological basis of the study were logical methods of information processing, methods of systems analysis, abstract-logical method for formulating conclusions. The main hypothesis of the study is that when building an effective risk management system of the enterprise should take into account the need to collect and process a significant amount of information, which determines the importance of creating and implementing an appropriate information system. The organization of the enterprise risk management information system should be based on a process approach. Presenting main material. Theoretical and methodological principles of information support of risk management of the enterprise are considered. It is emphasized that now the approach to risk management has evolved from a separate function to a comprehensive management system of the organization. This has significantly increased the amount of information needed to implement risk management processes and the burden on the risk management system of the enterprise. The requirements for the composition of the necessary information at all stages of the risk management process of the enterprise are analyzed. The project of introduction of the information system of risk management of the enterprise with use of elements of the functional analysis is offered. This will increase the efficiency of processes in the risk management system of the enterprise The originality and practical significance of the study is confirmed by the possibility of using the proposed approach as a practical tool for implementing projects to implement risk management information system in the enterprise. Conclusions and prospects for further research. The proposed recommendations can be used for organizational change in enterprises that implement a risk management system in their activities.

SAFETY AND QUALITY MANAGEMENT IN THE ORGANIZATION USING RISK ASSESSMENT AT THE WORKPLACES OF PERSONS WITH DISABILITIES

Increasing the effectiveness of safety and quality management systems is one of the most important ways to ensure the sustainable development of any organization. Employment of people with disabilities is a significant challenge for safety and quality management systems, as it can potentially increase the risk of hazards related to employee injury or property damage due to growing manufacturing defects. Therefore, the implementation of an effective risk management system is an urgent problem. The article analyzes the ways of risk management at the workplace of people with disabilities using the clauses of probability theory. Calculation of the probability of influence the level of employee's work ability on the growth of risk in the context of safety and quality showed that the most effective way to minimize risk is to develop a flexible work schedule for employees with disabilities, as well as giving to the employee with a high degree of loss of professional ability such work production tasks, characterized by the circulation of low-value products. Calculations carried out using the Bayes` formula showed that the most effective way of managing safety and quality at the workplaces of employees with disabilities is to reduce the volume of production tasks. As a result of the calculation, it was determined that reducing the volume of production tasks by 10% decreases the probability of getting injuries of an employee with persistent functional changes in the health state by 11%. These measures will allow the organization to avoid severe restrictions on the level of working ability of persons with disabilities in their employment, as well as to minimize risks in the context of safety and quality of work.