Page 4 - Risk Management Bulletin Jan- Mar 2021
P. 4

RMAI BULLETIN JANUARY TO MARCH 2021

                               Content                                        About us

                                                              Risk Management has assumed great significance in
                                                              the global economic scenario. More and more com-
             Fraud Risk Management through                    panies are recognising the need of implementing the
             Control Measures: Cost v/s utility               concept in their organisation.
             Shibyanshu Sharma                           03
                                                              Unless risk is monitored properly the very existence
                                                              of business may be at stake. The technological ad-
             Identifying Unknown Risks through
                                                              vancement has revolutionised the ways of doing
             Mystery Shopping                                 business but at the same time has posed new
             Gaurav Jain                                 14
                                                              challenges to manage and contain risk.

                                                              In western countries Risk Management is an impor-
             Crisis Management; Building
                                                              tant area which has attracted the attention of Bankers,
             Corporate Resilience
                                                              Insurers, Financial Institutions, Government, business
             Charlie Matheson                            18
                                                              houses,  in forecasting the imminent risk in undertak-
                                                              ing any project/work and taking suitable precautions
             News Update                                 20   to avoid or minimize the adverse impact of risk.

                                                              However in India though the importance of Risk Man-
             Here's how GIS helps in better
                                                              agement has been recognized but no concrete step
             Disaster Management                         22   has been taken to establish it as  integral part of
                                                              activity so that risks may be perceived in advance and
                                                              suitable measures be taken to avoid it.
             Glossary                                    24
                                                              In order to respond to the future challenges, Risk
                                                              Management Association of India  has taken the oner-
                 Not taking risks one doesn't                 ous responsibility to create a platform for Risk Profes-
                                                              sionals, Insurers, Bankers, Corporates to exchange lat-
                 understand is often the best                 est news, articles, resources relating to risk manage-

                   form of risk management.                   ment, encourage research and development, provide
                                                              certification to members, provide courses on risk man-
                           Raghuram G. Rajan                  agement, conduct webinars, Conferences etc.




























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