Committee Of Chief Risk Officers Inc

Programs: Prepared and published whie papers that recommended best practices regarding (1) "a framework for commercial compliance" - this paper provides a best practices reference to help energy companies ensure that their commercial activities are being held to the highest standards while observing the spirit and letter of all applicable laws; (2) "market clearing in the energy industry" - the purpose of this paper is to advance the use of fianncial as well as physical clearing in the energy industry by contributing to a common understanding of its benefits and the challenges still present; (3) "enterprise risk management and supporting metrics" - this paper provides a framework for understanding the role and nature of best practices metrics in an enterprise-wide risk management program; (4) "understanding s&p's risk management ranking survey" - this paper aids in understanding s&p's "pim" framework and the type of information that s&p would need to gather to establish insight into the specific risk management practices of an energy company.

developing a training program for members and non-members that provides case studies and exercises to better communicate the many messages and methods found in our white papers.

launch working groups to evaluate: (1) understanding best practices perspectives on the application by some rating agencies of "debt equivalency" for specific long-term financial agreements; (2) recognition of many unintended consequences of real-world application of fas 133 accounting requirements; (3) building an effective regulatory compliance program for an engery company; (4) methods to address less quantifiable, yet material risks that energy companies face and should consider management of.

new web-based portal server providing central e-mail and file sharing. This greatly simplifies management of working group activities and documents, keeps members up-to-date as to upcoming events, all while enhancing our regulatory compliance procedures re anti-trust and protection of proprietary ccro material.