Risk Management Seminar Held at SCMHRD, Pune

Risk Management Seminar Held at SCMHRD, Pune

"Empowerment at all levels will counter strategic risk." By this, he opined that alignment with the central strategy and responsibilities at all levels can reduce the internal risk uncertainties. He ended his speech on a positive note as he remarked that the Mutual Fund

Industry has matured and become more regulated and secure with a bright future ahead.

Post-tea Session was begun by Mr. Anuj Agarwal, the CFO of SBI Life Insurance Company, who highlighted the fact that 'growth itself poses risk', and elucidated it by emphasizing that the life insurance industry is growing at a rate of over 70%. His speech comprehensively explained the approaches of SBI Life Insurance with regards to risk management, viz., avoiding risk, accepting risk and transferring risk. He highlighted the basic risks in Insurance as operation risk, investment risk and business risk. He threw light on SBI Life's approach to risk management and its alignment with IRDA and RBI regulations, which is duly approved by the Board.

He also mentioned the key challenges of SBI Life Insurance as talent crunch; process, system and inflation; asset-liability management along with mis-selling. His well-structured speech drove home his point, which is aptly captured as 'if you are able to manage your risks well, it will require far less capital'.

The next speaker was Mr. Biren Diwan, Deputy Manager, NCDEX. His presentation mainly covered various aspects of risk management in a commodity exchange in general, and NCDEX in particular. He crisply defined the activities of the exchange, the spot market, the derivatives market and the typical risks faced by them. He also enumerated the different tools to manage and mitigate the different kinds of risk pertaining to the commodities market.

Mr. P. K. Choudhury, the Vice Chairman of ICRA Limited and CEO of the ICRA Group, talked about Integrated Risk Management as a comprehensive and integrated framework for managing credit risk, market risk and operational risk. He started with the anecdote and explained the significance of the Integrated Risk Management in the light of Basel II norms of capital allocation. He called the traditional approach towards risk management as Silos-based concept and emphasised on the integrated approach in the present times.

Mr. Dinyar Manekshaw Jivaasha, the Group Global Head & Sr. Vice President of the Transnational Essar Group's Corporate Risk & Insurance Management Function, a pioneer in designing "The First Industrial All Risks Policy in India", and is credited for designing effective mega risks covers for the ESSAR Conglomerate Group. Mr. Jivaasha shared his experiences from the field and talked about the importance of the Strategic Risk Management and Enterprise Wide Risk Management.

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* Contributed by -
Simanti Talukdar (Campus Associate),
MBA 1st Year,
SCMHRD, Pune.

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