IRM India Affiliate’s Post

2023 ANNUAL #ENTERPRISERISKMANAGEMENT SUMMIT (INDIA) With unparalleled technological advancements, resilience occupying center stage due to emerging risks, shifting focus from risk to opportunity thinking, and transformative risk regulations — after the success of Chandrayaan 3, it's time for India's #riskprofessionals to set global benchmarks in risk maturity, leadership, and governance. And we can do it together. Come join us for the second edition of the Enterprise Risk Management Summit by the National Institute of Securities Markets (NISM) (education arm of #SEBI) and the Institute of Risk Management's, India Affiliate (the world's leading professional body for ERM Exams across 140 countries). Free registration. Exclusively for Chief Risk Officers and Independent Directors. Certificate of Participation for every attendee. Elevate your risk-leadership and come network with fellow peers: https://rb.gy/7drlq Hersh Shah, SIRM Rajeev Tanna Jitender Arora, CFIRM Jyoti Ruparel Sunder Natarajan, CFIRM Shailesh Haribhakti [GCB.D] Dinesh Kanabar Adithya Bhat Bhaskar Subramanian Shailendra Kothavale Avinash Bhide Harshit Baxi Amit Narkar Nagesh Pinge Satish Shenoy Venkatesh S Anil Mathew Ritesh Joshi CKG Nair SUNIL KADAM Kunj B Bansal Mukundan K V National Institute of Securities Markets (NISM) #ermsummit2023 #riskmanagement #sebi #nism #irmindia #erm #chiefriskofficer

MAHB Annual Board Risk Workshop is a well curated exercise to understand the risks considerations in formulating strategies that involves: 📝 taking stock of risk posture 👁️🗨️ understanding trends, internal and external symptoms/ risks and identify potential execution risks as well and unintended consequences 🔝agreeing landscape of top opportunities and risks and define appetite and tolerances aiming at reaching holistic solutions! ©️ sharing supporting outside-in reflections - Sumit Narayanan (thank you to Bain & Company and you for the incredible insights) Very engaging and insightful session! Interactive and insightful discussions with Board Independent Directors, Senior Management Teams, Maybank and Ageas Group Directors supported by a great talented unique risk team. Thank you to all that contributed! Journey started towards implementation! #innovationstrategy #riskintelligence #insighttoimpact #customerobsession #createthefuture #valueproposition #knowledgesharing #holisticoutcomes #ICAAP #ORSA

Is your organisation striving to stay ahead of the curve in today’s rapidly evolving business environment? Are you prepared to address the emerging risks with confidence and precision? Do you seek to gain insights from industry leaders and navigate emerging challenges effectively? If you’ve answered 'yes' to any of these questions, then Global Capability Centres Risk Symposium is the event for you. Join us as PwC brings together industry experts, thought leaders and risk management professionals for a day of knowledge sharing and networking. Register now: https://bit.ly/3UObCYz #RethinkRisk #FitForFuture #GCCs #GCCRiskSymposium #RiskManagement Sivarama Krishnan | Rajesh Kumar Ojha | Manu Dwivedi | Unnikrishnan P | Prakhar Garg | Raviraja Rao | Ankit Garg | Anu Priy Vij | Prag Wadhawan | Dhruv Chawla

Moderating #RMNext 35th session at Iconic building Bombay House was an incredible experience. Thank you Venkatesh S Anshul Gupta for the opportunity and Tata Steel for hosting the event Vishal Agrawal Samita Shah. Geopolitical session from Pramit Pal Chaudhuri was insightful. Met old friends after a long time Dipen Shah, Harshit Baxi, Chetan Thakkar CA CIA(US) CRM CFM DISA IIMA HBS, Mahesh Gadkari, Mukundan K V, Nagesh Pinge, Avinash Bhide Key take aways from Panel session… Risk Management function has evolved over time. 1. Speakers reflected and shared learning - amazing participation from all who attended - so much to learn. 2. Members looked at emerging risks and trends 3. Members acknowledged changing Role of CRO in this dynamic world. It’s no more a 2nd LOD, may not even be first…the line starts the moment CRO takes a stand (pun intended). 4. CRO manages internal risk, vendor eco system, external stakeholders, regulators, bureaucrats. Did you say CRO or CEO??? Samita Shah, Anil Mathew, Pankaj Kumar, Amit Narkar - Your insights, expert view ware enriching. Taking away immense value by just “asking questions”!!!

Chief Risk Officers in 2024 will face a multifaceted landscape that demands agility, foresight, and strategic thinking. They must adapt to emerging challenges while navigating the complexities of an interconnected world. Explore the nine priorities that will matter most for CROs in 2024, the most crucial being an getting your fellowship in ERM. Earn the global designation and get your skills and experience recognised as a #RiskReady leader. CROs can directly start with IRM's Level 4 global designation. Join our community now by checking your eligibility here >> https://lnkd.in/d8xau-xF #ChiefRiskOfficer #CROpriorities2024 #riskmanagement #EnterpriseRiskManagement #riskintelligence #riskready #IRM #IRMIndia #InstituteofRiskManagement #IndiaGetsRiskReady

"𝓡𝓲𝓼𝓴 𝓹𝓻𝓸𝓯𝓮𝓼𝓼𝓲𝓸𝓷𝓪𝓵𝓼' 𝓲𝓷𝓯𝓵𝓾𝓮𝓷𝓬𝓮 𝓲𝓼 𝓼𝓽𝓲𝓵𝓵 𝓵𝓲𝓶𝓲𝓽𝓮𝓭 𝓪𝓷𝓭 𝓭𝓸𝓮𝓼 𝓷𝓸𝓽 𝓹𝓮𝓻𝓶𝓮𝓪𝓽𝓮 𝓪𝓵𝓵 𝓶𝓪𝓷𝓪𝓰𝓮𝓶𝓮𝓷𝓽 𝓵𝓮𝓿𝓮𝓵𝓼, 𝓹𝓻𝓸𝓬𝓮𝓼𝓼𝓮𝓼 𝓪𝓷𝓭 𝓼𝓽𝓻𝓾𝓬𝓽𝓾𝓻𝓮𝓼 𝓲𝓷 𝓪𝓷 𝓸𝓻𝓰𝓪𝓷𝓲𝔃𝓪𝓽𝓲𝓸𝓷." These are the 𝓻𝓮𝓼𝓾𝓵𝓽𝓼 𝓸𝓯 𝓽𝓱𝓮 𝓤𝓢 𝓡𝓲𝓼𝓴 𝓘𝓷𝓼𝓲𝓰𝓱𝓽𝓼 𝓢𝓾𝓻𝓿𝓮𝔂 conducted by PWC. The results show that risk professionals' influence is not sufficient and not consistent. Notably, risk team involvement in major initiatives is sporadic or late in coming. Across a range of company initiatives only 𝓪𝓫𝓸𝓾𝓽 𝓱𝓪𝓵𝓯 𝓸𝓯 𝓽𝓱𝓮 𝓻𝓲𝓼𝓴 𝓹𝓻𝓸𝓯𝓮𝓼𝓼𝓲𝓸𝓷𝓪𝓵𝓼 𝔀𝓮 𝓼𝓾𝓻𝓿𝓮𝔂𝓮𝓭 𝓻𝓮𝓹𝓸𝓻𝓽 𝓫𝓮𝓬𝓸𝓶𝓲𝓷𝓰 𝓲𝓷𝓿𝓸𝓵𝓿𝓮𝓭 𝓭𝓾𝓻𝓲𝓷𝓰 𝓽𝓱𝓮 𝓲𝓷𝓲𝓽𝓲𝓪𝓵 strategy or design stages for any given project (with only 9% included from the start across all major initiatives). As for the rest, they may get a seat at the table, but they 𝓪𝓻𝓻𝓲𝓿𝓮 𝓽𝓸𝓸 𝓵𝓪𝓽𝓮 𝓽𝓸 𝓲𝓷𝓯𝓵𝓾𝓮𝓷𝓬𝓮 𝓼𝓽𝓻𝓪𝓽𝓮𝓰𝔂 𝓪𝓷𝓭 𝓭𝓮𝓼𝓲𝓰𝓷. Their effectiveness across risk management activities is similarly uneven. A clear 𝓶𝓪𝓳𝓸𝓻𝓲𝓽𝔂 𝓻𝓮𝓹𝓸𝓻𝓽 “𝓪𝓵𝓻𝓮𝓪𝓭𝔂 𝓭𝓮𝓶𝓸𝓷𝓼𝓽𝓻𝓪𝓽𝓲𝓷𝓰” 𝓽𝓱𝓪𝓽 𝓽𝓱𝓮𝔂 𝓫𝓻𝓲𝓷𝓰 𝓻𝓲𝓼𝓴 𝓲𝓷𝓼𝓲𝓰𝓱𝓽𝓼 𝓽𝓸 𝓽𝓱𝓮 𝓒𝓔𝓞, 𝓽𝓱𝓮 𝓫𝓸𝓪𝓻𝓭 𝓪𝓷𝓭 𝓼𝓮𝓷𝓲𝓸𝓻 𝓵𝓮𝓪𝓭𝓮𝓻𝓼𝓱𝓲𝓹 to shape key decisions. 𝓑𝓾𝓽 𝓸𝓷 𝓽𝓱𝓮 𝓯𝓵𝓲𝓹 𝓼𝓲𝓭𝓮, 𝓪𝓫𝓸𝓾𝓽 𝟒𝟎% 𝓪𝓻𝓮𝓷’𝓽. And even more don’t appear to be effective at coordinating across the three lines. Read more in the below publication If you would like to know more about the Three Lines of Defence Model (3LOD), then check out this 𝓸𝓷-𝓭𝓮𝓶𝓪𝓷𝓭 𝓬𝓸𝓾𝓻𝓼𝓮 𝓪𝓷𝓭 𝓮𝓪𝓻𝓷 𝓒𝓟𝓔𝓼: 𝗜𝗺𝗽𝗹𝗲𝗺𝗲𝗻𝘁𝗶𝗻𝗴 𝟯𝗟𝗢𝗗 𝗶𝗻 𝗲𝘀𝘁𝗮𝗯𝗹𝗶𝘀𝗵𝗲𝗱 𝘃𝘀 𝗶𝗻𝗻𝗼𝘃𝗮𝘁𝗶𝘃𝗲 𝗼𝗿𝗴𝗮𝗻𝗶𝘀𝗮𝘁𝗶𝗼𝗻𝘀 https://lnkd.in/e9Thktbx www.cpetrainer.com #riskmanagement #corporategovernance

#DeloitteAtTPRMSummit2023   #ThirdPartyRiskManagement is getting more nuanced as third-party networks continue to grow larger. But this also implies further exposure to risk. The recently concluded “6th Third Party Risk Management India Summit 2023,” organised by Inventicon Business Intelligence Pvt. Ltd., where Deloitte India was the principal partner, provided a plethora of insights, trends, and solutions to help organisations make the most of their #TPRM journeys.   Here are a few key takeaways from the event to help you reassess your #VendorRiskManagement approach. Chandrashekar Mantha,Vikram Savlani, Himanshu Surange, Munjal Kamdar   #NowToNext #RiskAdvisory #ContractLifecycleManagement #VendorRisk #RiskManagement #ThirdPartyRisk #ThirdPartyManagement

Strategic risks represent internal or external events that restrict a company’s ability to achieve its objectives. As with all other risks, strategic risks are calculated as the probability that a company’s strategy will fail to achieve business bottom lines. A key point for companies here is to understand that the outlook of strategic risk may appear different at different points in time. That’s because a company is a dynamic entity, and there will always be factors outside the company's control that will prevent it from achieving its goals. Just for better understanding, as a major market player, you may not be threatened by a competitor. However, the equation may change rapidly with a new entrant quickly claiming market space, thus, becoming an out-of-control strategic risk for your business. Yasir Gadit Usman Alam Ammar Hussain Kaghdi Arslan Mushtaq Arshad Gadit - FCA, ACCA Numair Kulkarni, ACCA Khushboo Mushtaq ACA Muhammad Osman Babar Syed Hamza Zubair Hamza Majeed, ACA Ammad Z. athGADLANG Wathiq aG Resources Sikander Abdul Rehman Ali Ayub Abdullah Taimoor Sultan Mubashir- FCA, CPA #Strategy #Risk #StrategicRisk #Business #Company #Busines #Probablity #Goals #Objectives #Competition #KSA #AdvisorsofChoice #Wathiq