Organization and methodological basis for company's risk monitoring and control

Object: Research of methods and tools for monitoring the company's risks in order to control and adjust risk management in the current economic conditions. Methods: The paper examines the methodological basis in order to form a procedure for observation and analysis of risks for further application of methods to influence risky events. The possibility and expediency of introducing effective performance indicators of the company's structural divisions in risk management into the monitoring system are also considered. Findings: The authors propose an organizational and methodological framework for monitoring the company's risk management activities, including a documented format for monitoring the development of risk events in the application of methods to influence the factors and consequences of risks, and an algorithm for selecting risk management methods. Conclusions: By using the organizational and methodological scheme for monitoring the risk management system, the company becomes capable of responding in due time to an advent of risk events in order to reduce the negative impact of risks, which, in turn, will enhance the efficiency of risk management in general.