Page 3 - RMAI Bulletin July - September 2021
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RMAI BULLETIN JULY TO SEPTEMBER 2021


             RISK MANAGEMENT ASSOCIATION OF INDIA
             RISK MANAGEMENT ASSOCIATION OF INDIA



                 Registered Under Societies Registration Act - 1961 Vide Registration No. S/73835 (WB)
                 A Non Profit Organisation Engaged in Promotion of Risk Management Discipline in India


                          VOL. IV - No. 03 - July - September 2021     Editorial

            Council Members
            Mr. R.G.Agarwala, President
            Prof. (Dr.) Abhijit K Chattoraj, Vice President
                                                           Risk management has taken center stage as companies grapple
            Dr. Rakesh Agarwal, Secretary General          with the after effects of the COVID-19 pandemic. Organisations
            Mr. Shyam Agarwal, Treasurer                   who  already  had  a  robust  Risk  Management  Policy  and
            Mr. Vineet Agrwal                              framework were too affected but they could quickly adapt to the
            Mr. Naren Bonnerjee                            new environment and the overall impact was controlled.
            Mr. Bilwa Banerjee
                                                           A large number of organisations did not have a proper system in
                                                           place. They were the most affected lot. In this age of competition
            Advisory Council Members
                                                           those who cannot respond quickly to the development in external
            Mr. B D Banerjee
                                                           environment are bound to suffer. Pandemic also led to adoption
            Mr. Kamalji Sahay
                                                           of technology at massive level across the organisations.
            Mr. G Srinivasan
            Mr. Kaushal K Mishra                           Technology has its drawbacks in terms of cyber issues but overall
            Mr. Sridhar Kalyanasundaram                    the benefit of adopting technology is much greater in terms of
            Mr. Somit Chitrey                              ease  of  operation,  better  internal  communication,  better
                                                           customer service.
            Mr. KB Vijay Srinivas
                                                           But the companies must be cautious and have a proper Cyber
            RMAI Industry Experts                          Risk Management Plan as there would be increased chances of
            Mr. Amol Padhye - Banking                      data breach and possible cyber attacks.
            Mr. N.K.V Roop Kumar - Life Insurance
            Mr. Anjan Bhattacharya - Life Insurance        Organizations need to plan and implement a risk management
                                                           strategy to mitigate the risks specific to their business and to
            Mr. Ganesh Iyer - Life Insurance
                                                           eliminate cyber-attack threats. A cyber risk management plan
            Mr. Vikas Newatia - General Insurance
                                                           can help the decision-makers to identify the risks associated with
            Mr. Avez Sayed - General Insurance
                                                           it on an operation level. An assessment related to cyber risk will
            Mr. Surath Mukherjee - Corporate
                                                           help the business to establish the likelihood of any cyber-related
            Mr. Dwaipayan Dutta - Life and Health          attacks they are vulnerable to. A cyber risk management strategy
            Mr. Kr Sumit Gaurav - Life Insurance, Uganda   can help the organisations to understand the major threats and
                                                           devise strategy according to the nature of risks.
            RMAI Brand Ambassador
                                                           Business  leaders  can  no  longer  solely  rely  on  out-of-the-box
            Mr. Shaik Gulam Afzal Biya Bani,
                                                           cybersecurity solutions like antivirus software or firewalls. The
            Middle-East and North Africa (MENA)
                                                           cybercriminals  are  getting  more  and  more  smarter  and  their
                                                           tactics  are  becoming  more  resilient  to  conventional  cyber
            RMAI Academic Council                          defences.
            Prof Manoj K Pandey
            Prof Pratik Priyadarshi                        Cyber  threats  can  come  from  any  level  of  organization.  The
            Dr. A. A. Attarwala                            workplaces must include cybersecurity awareness training to
                                                           educate staff about common cyber threats like social engineering
                                                           scams,  phishing,  ransomware  attacks  (think  WannaCry),  and
            Registered Office
                                                           other malware designed to steal intellectual property or personal
            25/1, Baranashi Ghosh Street
                                                           data apart from other risk mitigation plans.
            Near Girish Park Metro, Kolkata – 700007 (India)
            Website : www.rmaindia.org                     A proper cyber risk management plan can help to prevent attacks
            Email : info@rmaindia.org                      and mitigate cyber-attacks, help in cost reduction and protecting
            Help Line : 033 22184184 / 40078378 / 40078428  the revenue, and also helps to Increase business reputation.

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