RMAI Risk Management Summit 2019, a giant leap towards developing risk management culture in India

Risk Management Association of India, an NGO dedicated to cause of Risk Management education, training, organized a Full day Conference on Risk Management Challenges in New Era on 24th January 2019 at Hotel Holiday Inn Mumbai. The Summit witnessed participation of more than 25 speakers and 180 delegates.- A big leap towards growth of Risk Management Culture in India.

Risk Management Association of India (RMAI) is a Non Profit body engaged in promotion and development of Risk Management discipline in India.

Risk Management Association of India  has taken the onerous responsibility to create a platform for Risk Professionals, Insurers, Bankers, Financial professionals, Corporate Risk Managers to exchange latest news, articles, resources relating to risk management, encourage research and development, provide certification to members, provide courses on risk management,  conduct webinars, Conferences etc

In its maiden endeavor to promote the cause of Risk Management, RMAI organized its inaugural Full Day Summit on Thursday, 24th January 2019 at Hotel Holiday Inn, Mumbai. The Summit witnessed participation of more than 25 speakers and 180 delegates not only from India but also from SAARC and Middle East Countries.

The Theme of the Conference was “Risk Management Challenges in the New Era – Way Ahead, wherein eminent speakers from across the industry deliberated upon the current trends, future challenges, unknown risks and ways to mitigate them and give food for thought to promote risk culture in India and build a strong foundation for Risk Management practices in India.

The ever increasing risk in every sphere of business is prompting organizations to have a more focused approach to manage risk and decide future course of action.  No industry can remain aloof to the rising risk potentials and must take prompt and corrective measure. The Financial Industry is also growing very fast but at the same time is facing huge challenge to stay afloat in competitive environment and manage risks properly.

Speaking on the occasion Dr Rabi N Mishra, Principal Chief General Manager, Risk Monitoring Department, Reserve Bank of India said, “Crystal gazing at the future of managing risk shows some basic building blocks that are needed. These blocks will lead us to the ultimate objective of the risk management systems in an organisation which is development of risk culture. Digitisation will play a crucial role to this attainment.”

Mr Nilesh Sathe, Member Life, Insurance Regulatory And Development Authority outlined the initiatives of the Insurance Regulator in moving towards the regime of Risk Based Capital and new guidelines being issued by IRDAI in Cyber Security and other related areas.

The structure of deliberations in the Summit included 2 panel discussion on Insurance moderated by Dr Rakesh Agarwal, Secretary General, RMAI, and Prof (Dr) Abhijeet Chattoraj, Hon Vice President, RMAI, Banking panel discussion moderated by Mr Amol Padhye, Head Market Risk, HDFC Bank and Industry Expert, RMAI, and the Corporate panel discussion moderated by Mr Rajosik Banerjee,  Partner and Head, Financial Risk Management, KPMG in India apart from many individual presentations.

The theme of the first panel discussion on Insurance was “Evolving Risk Landscape and Governance”. The panel members included Mr. Nilesh Sathe, Member (Life) Insurance Regulatory and Development Authority of India, Mr Praveen Gupta, CEO Raheja QBE General Insurance Company, Mr G Srinivasan, Director, National Insurance Academy, Atul Mehta, President – Strategic Partnerships, GO Digit.

The theme of Second panel discussion was “Risks and Potentials in Banking Sector towards $ 5 trn Indian Economy”The panel members included Mr Ajay Mahajan, Group Executive President- Head, Commercial & Wholesale Banking – IDFC First Bank, Mr. Ramaswamy Meyyappan, Chief Risk Officer, IndusInd Bank, Mr Bharat Panchal, Senior VP & Head – Risk Management at National Payment Corporation of India.

The theme of Third panel discussion was “Evolving Dynamics in Corporate Risk”The panel members included Mr. Vidhyasagar Tyagi, Head-Audit, Refining & Marketing, Reliance Industries Ltd, Mr. Vijayan Subramani, Managing Director, Treasury and Markets, DBS, Mr. Vikram Sondhi, Head Price Risk Management, Hindalco Industries Ltd, Mr. Anirban Banerjee Head Delivery Excellence & Risk Management, TCS BFSI CBO

The theme of Fourth panel discussion was “Bridging the protection gap, Insurance fraud, Risk Management”. The panel members included Mr Soumil D Mehta, Director, Mehta & Padamsey Insurance Surveyors & Loss Assessors, Mr Ganesh Iyer, CEO, PRO RISK Business Solutions, and President AiCM, Mr K K Mishra, Ex CMD, TATA AIG General Insurance Company and advisory council member RMAI

The Summit included individual presentations from the following speakers:-

Know the Unknown Risk -Mr Avez Sayed, Chief Risk Officer, SBI General Insurance Company
Technology Challenges in Risk Systems – Mr D N Prahlad, Founder and Chairman,Surya Software Systems Private Ltd
Evolving Trends in Risk Management and Way Forward” Mr. Sanmoy Chakrabarti, Head-Risk Management, HDFC Bank Ltd
Cyber Security- Mr N.K.V Roop Kumar, EVP & Chief of Risk, SBI Life Insurance Company
Disaster Management Techniques of AOG Perils – K L Naik
Risks in Markets – Issues & Challenges for Corporates- Mr Rahul Ghosh, Ex Vice President NCDEX

Mr R.G.Agarwal, President, RMAI said  “Our wishful thinking is to develop RMAI as a platform that would help sharing knowledge through proactive risk dialogue across all varied stakeholders with a view to creating a proactive and pre-emptive risk management culture that would ultimately help the stakeholders to develop a dedicated risk managing approach.”

The members of Risk Management Association of India can access the online repository of Risk Management Research Reports, Case studies, Videos, articles, webinars for upgrading their skills and also enroll in various courses related to Risk Management.

Editorial Contact:
Dr.Rakesh Agarwal
MCom(BIM),PGJMC,LLB,FIII,MBA,FCA,DISA(ICAI),FRMAI,Phd
Secretary General
Risk Management Association of India
25/1,Baranashi Ghosh Street, Near Girish Park, Kolkata – 700007
Phone : 033-22184184/ 22696035
www.rmaindia.org. Email at info@rmaindia.org