Page 3 - Risk Management Bulletin January-February 2023

RMAI BULLETIN JANUARY TO FEBRUARY 2023

Risk Management Association of India

Registered Under Societies Registration Act - 1961 Vide Registration No. S/73835 (WB)
Global Body Dedicated to Education, Research and Development on Risk Management

VOL. VI - No. 01 - January - February 2023
Council Members Editorial
Mr. R.G.Agarwala, President
Prof. (Dr.) Abhijit K Chattoraj, Vice President
Dr. Rakesh Agarwal, Secretary General We wish all our members and readers a Very Happy New Year
Mr. Shyam Agarwal, Treasurer 2023!
Mr. Vineet Agrwal
Mr. Naren Bonnerjee According to a recent survey by the World Economic Forum, the
Mr. Bilwa Banerjee cost-of-living crisis will be the biggest global risk over the next
Mr. Vivek Kumar Naik
Mr. Deepak Choudhary two years. It said that the Global inflation remains at sky-high
levels after energy and food costs rocketed last year following
Advisory Council Members the invasion of agricultural powerhouse Ukraine by major oil
Mr. B D Banerjee and gas producer Russia. It also said "Conflict and geo-
Mr. Kamalji Sahay economic tensions have triggered a series of deeply
Mr. G Srinivasan interconnected global risks."
Mr. Kaushal K Mishra
Mr. Sridhar Kalyanasundaram In the current environment the risk developing in one part of the
Mr. Somit Chitrey
Mr. KB Vijay Srinivas word cannot be ignored. The Risk Manager has to broaden his
Mr. Vivek Kumar Naik horizon to anticipate risks originating in different parts of the
Mr. Deepak Choudhary globe. Risk is dynamic so should be the risk manager. He
should identify the trends leading to evolving of risks and how its
RMAI Industry Experts organisation may be impacted. Russia war led to serious
Mr. Amol Padhye - Banking disruption in Supply chain management and impacted several
Mr. N.K.V Roop Kumar - Life Insurance
Mr. Anjan Bhattacharya - Life Insurance economies around the world.
Mr. Ganesh Iyer - Life Insurance
Mr. Vikas Newatia - General Insurance Similarly an EY / IIF survey found that 72% of global Chief Risk
Mr. Avez Sayed - General Insurance Officers (CROs) view cybersecurity as the top year-ahead risk,
Mr. Surath Mukherjee - Corporate followed by credit and environment risks. Around 62% of
Mr. Dwaipayan Dutta - Life and Health European banking CROs regard geopolitical risk as a top risk
Mr. Kr Sumit Gaurav - Life Insurance, Uganda
management issue relative to 28% globally.
RMAI Brand Ambassador The impact of the war in Ukraine is the top geopolitical risk for
Mr. Shaik Gulam Afzal Biya Bani,
Middle-East and North Africa (MENA) 54% European banking CROs. Global banking CROs see
climate risk, change through digitization and data integrity as
RMAI Academic Council the top emerging risk priorities for regulators over the next five
Prof Manoj K Pandey years. European banks are leading the way in conducting
Prof Pratik Priyadarshi climate risk-related scenario analysis and/or stress testing, and
Dr. A. A. Attarwala
62% of European banks incorporate these activities into their
firm’s risk management activities, relative to 36% globally.
Registered Office
25/1, Baranashi Ghosh Street All the surveys lead us to a broader role that needs to be played
Near Girish Park Metro, Kolkata – 700007 (India)
Website : www.rmaindia.org by the risk management department in the organisation. Risk
Email : info@rmaindia.org Managers must look for continuous training and development
Help Line : 033 22184184 / 40078378 / 40078428 opportunities to upgrade their skills.

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