The war has changed the rules of the game: operational risks have become the main challenge for businesses, says a banker
7 July 20:14
YOUTUBE
Instead of financial and market risks, there is now the threat of a production shutdown. The full-scale war has radically changed Ukrainian businesses’ approach to planning: companies are increasingly focusing not on economic fluctuations, but on their ability to ensure business continuity amid uncertainty. Maksym Tsymbal, First Deputy Chairman of the Board of Pivdenny Bank, spoke about this in an interview with the "Komersant Ukrainian" YouTube channel.
“Before the large-scale invasion, businesses tended to focus on traditional risks: financial, economic, and market risks. The topic of operational risks was, perhaps, not particularly relevant. But after 2022, it became the most discussed issue among representatives of medium and large businesses,” the banker noted.
According to him, operational risks primarily involve the risk of production stoppages, disruptions to processes, or operational disruptions that can occur at any moment.
A separate problem, according to Tsymbal, is the lack of effective mechanisms for insuring against such risks.
“We cannot influence this situation, and unfortunately, there are currently no tools available to effectively insure against operational risks,” he explained.
In response, businesses have begun to develop new models of resilience—through the diversification of production, warehouses, and energy supply systems.
“A modern production facility today is a mix of various energy sources: solar power plants, storage systems, and generators—diesel, gasoline, and gas piston. That is diversification,” the banker concluded.
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