International expert in Governance& Risks
Elina Moshkovich is an independent advisor in governance, risk, and compliance, working with companies across Europe and the Middle East on building management frameworks, developing ERM approaches, strengthening compliance functions, and embedding risk culture. Her work focuses on designing governance systems that support better decision-making, improve business resilience, and help organisations operate within increasingly complex regulatory environments.
Her career has developed across both consulting and in-house risk roles. She started at PwC, where she worked on ERM implementation, risk assessments, KPI and KRI design, and training for management teams. She then joined KPMG Russia, focusing on operational risk modelling for international banks, regulatory reviews, and model validation. Later, at SOGAZ, she was responsible for developing the operational risk framework, including stress testing, scenario analysis, and working with management on risk identification and assessment.
She moved on to senior roles in international insurance companies. At MetLife, she served as Risk Director and Head of Fraud Prevention, working on cross-border initiatives across EMEA, launching risk culture programmes, advancing ERM automation, and ensuring business continuity. At Allianz, as Risk Director, she worked on adapting group standards in ERM, ICFR, ORX, and behavioural risk and business ethics, while strengthening compliance, operational risk, and resilience frameworks. She was also involved in crisis management and business continuity during periods of geopolitical disruption.
Today, she advises boards, owners, and executive teams on governance design, board effectiveness, and the evolution of compliance functions. A significant part of her work is focused on developing leadership capabilities among Chief Risk Officers and GRC leaders, particularly in organisations that need to translate international regulatory requirements into practical and scalable governance models.
Policies, risk registers and risk committees do not necessarily mean that a company is managing risk. The system begins to add value when it helps to take better decision before a mistake becomes irreversible. This article looks at how to connect risk with business objectives, involve the risk function earlier and turn indicators into management action.
Corporate fraud is usually blamed on the individuals involved. But there is another question worth asking: which management decisions allowed the misconduct to begin, spread and remain undetected? Drawing on two anonymised cases, Elina Moshkovich shows how conflicts of interest, poorly designed KPIs and weak control functions can turn isolated abuse into a systemic business risk.
