Page 27 - BF Cover February 2019

REPORT

RMAI Risk Management Summit 2019, a giant leap towards

developing Risk Management culture in India

Risk Management Association of India (RMAI) is a Non Profit ment of risk culture. Digitisation will play a crucial role to
body engaged in promotion and development of Risk Man- this attainment."
agement discipline in India.
Mr Nilesh Sathe, Member Life, Insurance Regulatory And
Risk Management Association of India has taken the oner- Development Authority outlined the initiatives of the Insur-
ous responsibility to create a platform for Risk Profession- ance Regulator in moving towards the regime of Risk Based
als, Insurers, Bankers, Financial professionals, Corporate Risk Capital and new guidelines being issued by IRDAI in Cyber
Managers to exchange latest news, articles, resources re- Security and other related areas.
lating to risk management, encourage research and devel-
The structure of deliberations in the Summit included 2 panel
opment, provide certification to members, provide courses
discussion on Insurance moderated by Dr Rakesh Agarwal,
on risk management, conduct webinars, Conferences etc.
Secretary General, RMAI, and Prof (Dr) Abhijeet Chattoraj,
In its maiden endeavour to promote the cause of Risk Man- Hon Vice President, RMAI, Banking panel discussion mod-
agement, RMAI organized its inaugural Full Day Summit on erated by Mr Amol Padhye, Head Market Risk, HDFC Bank
Thursday, 24th January 2019 at Hotel Holiday Inn, Mumbai, and RMAI Banking Expert, and the Corporate panel discus-
India. The Summit witnessed participation of more than 25 sion was moderated by Mr Rajosik Banerjee, Partner and
speakers and 180 delegates not only from India but also from Head, Financial Risk Management, KPMG in India apart from
SAARC and Middle East Countries. many individual presentations.
The congregation witnessed presence of some best talents The theme of the first panel discussion on Insurance was
from the insurance, banking and Corporate bodies. The "Evolving Risk Landscape and Governance". The panel mem-
confluence was a mix of senior persons from the industry as bers included Mr. Nilesh Sathe, Member (Life) Insurance
well as young talents. Regulatory and Development Authority of India, Mr Praveen
Gupta, CEO Raheja QBE General Insurance Company, Mr G
The Theme of the Conference was "Risk Management Chal-
lenges in the New Era - Way Ahead", wherein eminent speak- Srinivasan, Director, National Insurance Academy, Atul
ers from across the industry deliberated upon the current Mehta, President - Strategic Partnerships, GO Digit. Dr
trends, future challenges, unknown risks and ways to miti- Rakesh Agarwal raised some vital issues regarding role of
gate them and give food for thought to promote risk culture regulator in Risk Based regulation, Risk based underwriting
in India and build a strong foundation for Risk Management vs Competition based underwriting, Inclusivity in Diversity,
practices in India. Climate Change, Disruptions in online selling.
The ever increasing risk in every sphere of business is The theme of Second panel discussion was "Risks and Po-
prompting organizations to have a more focused approach tentials in Banking Sector towards $ 5 trn Indian Economy".
to manage risk and decide future course of action. No in- The panel members included Mr Ajay Mahajan, Group Ex-
dustry can remain aloof to the rising risk potentials and must ecutive President- Head, Commercial & Wholesale Banking
take prompt and corrective measure. The Financial Industry - IDFC First Bank, Mr. Ramaswamy Meyyappan, Chief Risk
is also growing very fast but at the same time is facing huge Officer, IndusInd Bank, Mr Manish Jeloka, Independent Ad-
challenge to stay afloat in competitive environment and visor, Mr Bharat Panchal, Senior VP & Head - Risk Manage-
manage risks properly.
ment at National Payment Corporation of India. During the
Speaking on the occasion Dr Rabi N Mishra, Principal Chief discussion, Mr Amol Padhye touched upon critical points such
General Manager, Risk Monitoring Department, Reserve as evolving savings and consumption behaviour requiring
Bank of India said, "Crystal gazing at the future of manag- product development at Banks, regulatory framework
ing risk shows some basic building blocks that are needed. around Insolvency & Bankruptcy Code, Ind-AS and Basel
These blocks will lead us to the ultimate objective of the risk norms, significant development in digital payment space and
management systems in an organisation which is develop- risks associated with it.

BANKING FINANCE | FEBRUARY | 2019 | 27