Bringing Thought Leadership to Financial Services
Mumbai, Aug 12, 2015 : The Imarticus Risk Management Roundtable, among the first of it’s kind in India, was held at the Mumbai Cricket Association today and was attended by leading figures in Risk Management. Over 120 attendees and fifteen panelists discussed trends in Market, Credit and Operational risk as well the need to create a risk management culture in the current environment. The panelists comprised senior professionals across the spectrum of financial services.
Risk Management has come a long way from the trading floor and the Basel Accords of 1980’s and 1990’s. Global securities markets have expanded and both exchange traded and over-the-counter derivatives have become major components of the markets. These developments, along with technological breakthroughs in data processing, have gone hand in hand with changes in management practices and lead to a movement away from management based on accrual accounting toward risk management based on marking-to-market of positions. In light of current events, Risk Management is now, more than ever, at the forefront of organizational learning yet it is still hard to grasp from a perspective of execution and day-to-day management.
“Managing risk for a business is inherent to its success. It’s not only about risk models and systems but also about a culture that fosters informed decision making which will ensure long term viability”
-Nikhil Barshikar, Founder & Managing Director, Imarticus Learning.
Imarticus Risk Roundtable 2015 highlights:
- Opening keynote by Nikhil Barshikar, Founder and Managing Director, introduced Imarticus Learning and addressed the need for a dialogue for Risk in the current climate
- Credit Risk Panel
o Panelists
§ Arun Kumar Iyer, Director, Risk Solutions, CRISIL
§ Ashish Agarwal, Chief Risk Office, Yes Bank
§ Loknath Mishra, General Manager ICICI Bank
§ SomakGhosh, Managing Partner, Contrarian Fund & Founding Member Team, Yes Bank
§ ShalineeMimani, Chief Risk Officer, Edelweiss
o Key Takeaways: The panel, moderated by MrArun Kumar Iyer, discussed emerging trends in Mitigating Credit Risk and how has the Regulatory environment influenced the way firms Manage Credit Risk and the need for the industry to take a concerted effort, driven by regulator and credit risk experts to have a credit risk consortium, similar to ops risk data consortiums.
- Operational Risk Panel
o Panelists
§ MuraliSubrahmanyam, MD & Head-India Operations, MSCI
§ Pratik Shah (Moderator), Partner, E&Y
§ Rajesh Jogi, Chief Risk Officer, RBS
§ Sachin Singh, MD – Risk, BNY Mellon India
§ Thakur BibhutiVerma, Director, Deutsche Bank
o Key Takeaways: The panel, moderated by Mr Pratik Shah, focused on emerging risks and themes within operational risk and whether it is really given the right priority. There was also some discussion on the importance of Risk Culture as well as how to calculate Return on investing in Risk management.
- Market Risk
o Panelists
§ JaynaGhandhi, Head of Treasury, NSE
§ NavneetMunot, Chief Investment Officer, SBI Fund Management
§ Satrajit Bhattacharya, Joint General Manager, Treasury, HDFC Ltd
§ VaidhyanathanKrishnaswamy, Faculty, ISB & University Connecticut
§ VikramBhorawat, Director and head, Market Risk Management, Deutsche Bank
o Key Takeaways- The Panel, moderated by MrVaidhyanathanKrishnaswamy, discussed the impact of globalization on Market Risk as well as the use and limitations of Analytics and Modelling. It also spent some time on Algo trading in India.
One of the panelists inCredit Risk Panel Mr. SomakGhosh, Managing Partner, Contrarian Fundstates, “ Hire the best talent, take the triple AAA guy and put him in Risk. Risk today is no longer a backend job; 25 years ago you could be a loner crunching numbers, today we need an all rounder”
“All assumptions underlying our many models are failing today. We need to be a solution provider when we hire a modeller. This is not a pure quant job anymore” added by VikramBhorawat, Director and Head, Market Risk Management, Deutsche Bank
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