ccro
ADVANCING PRACTICES FOR RISK PROFESSIONALS IN THE ENERGY INDUSTRY

Working Groups

RISK METRICS SUBCOMMITTEE

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Risk Metrics Subcommittee

The CCRO members are moving forward now with this new working group that will address the topic of risk metrics in the context of the latest thinking by CROs today.  Our previously published risk metrics whitepaperprovides a baseline for this group. 


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Stated mission:

  • To create an active discussion forum” about risk metric topics.
  • To address only current, cutting-edge metric topics.
  • To document discussions and case studies to create reference materials.

The group will be holding a series of monthly webinar discussions.  These webinars allow members to share their current practices with their peers and discuss how to advance leading practices for CCRO publication.  The group coordinators provide support with documentation of the discussions and analysis, as well as facilitating insights into leading practices that have been uncovered in the discussions.

 

Topics to be addressed through regular webinar discussions:

1. “How do you make your set of metrics appropriate for your organization?”

A rich dialog led by the diversity of types of energy companies fhow appropriate metrics vary with the type of business at hand


2. “Terminology Standards”

There are often several variants on calculation methodology for common risk metrics.  Such specifics often are not clearly spelled-out, leading to mis-understandings and a breakdown in the appropriate use of many metrics.  Terminology standards published by the CCRO could improve clarity, thereby ensuring risk metrics are applied appropriately in support decision making


3. “Key Risk Indicators”

Review lessons-learned in the financial industry, external resources from other industries, and a rich dialog on how the CCRO could advance leading practices for the use of KRIs in the energy industry. 


4. “Trade Monitoring”

Possible to leverage existing metrics deployed in a company to create transactional monitoring? 


5. “Operational Risk Metrics”

This area has been a spot of considerable weakness in our industry


6. “Short Survey”

Survey of members regarding current risk metrics reported, what calculation methodologies applied, and how metrics are used internally (purpose).


7. “Risk Reporting Archive”

This is a CCRO initiative, wherein members anonymously contribute their favorite internal risk reports into a CCRO database.  This creates a growing resource of current risk reports, which members may search through in support of their own internal reporting objectives.


 

Working Group Leaders

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Jonathan Stein

CRO, Hess
Co-Chair

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Garth Renne

VP ERM Analytics
Co-Chair

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Chris Strickland

Coordinator

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Elizabeth Barker

Coordinator

 

Recent Materials:

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Slides from the discussion at the March 11th CCRO meeting in Alexandria, Va. Discussion was led by Garth Renne & Bob Anderson.

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Scope and priorities, notes from planning call, Jan 17, 2015