GAURAV VARSHNEY’s Post

With the increasing complexity of the financial ecosystem, building a resilient management system to combat operational risks is imperative. That’s why the Reserve Bank of India (RBI) updated their Guidance Note on Operational Risk Management and Operational Resilience aligned with the global best practices. Here’s our take on the guidance released on 30 April that focuses on understanding how we can tackle the growing operational risks and strengthen resilience: https://bit.ly/3LCnHvy #PwCIndiaSquad #TogetherWeFuture #TogetherWeGrow #RethinkRisk #OperationalRiskManagement #FinancialServices #RiskMitigation #Compliance Sivarama Krishnan | Rounak Shah | Amol Bhat

In a significant move to enhance #fraud risk management across regulated entities, the RBI has issued three revised master directions. These new #guidelines apply to a wide range of regulated entities, including commercial banks, Regional Rural Banks (RRBs), and All India Financial Institutions (AIFIs). Our thought paper, “RBI’s Master Direction on Fraud Risk Management,” coming your way soon, delves deep into exploring this subject. Watch this space. Rohit Berry, Nikhil Bedi, K.V. Karthik, Nishkam Ojha, Soniya Mahajan, Amol Mhapankar, Rajat V. #RBI #FraudRiskManagement #FinancialSector #Banking #FightingFraud #FraudDetection #MitigateFraudRisks #ForensicandFinancialCrime

On 30 April 2024, the Reserve Bank of India released an updated Guidance Note on Operational Risk Management and Operational Resilience. This guidance note replaces the earlier guidance of October 2005 and is based on the Basel Committee on Banking Supervision (BCBS) revised documents issued in March 2021, on Principles for the Sound Management of Operational Risk as well as on several international best practices. The revised guidelines emphasise the critical importance of managing operational risks—those stemming from people, processes, technology and external events—in today’s complex and dynamic environment in which Regulated Entities (REs) operate. Read PwC’s perspective on the full guidance note and understand how implementing these changes is essential for mitigating operational risk and enhancing operational resilience: https://bit.ly/3LCnHvy #RethinkRisk #OperationalRiskManagement #FinancialServices #RiskMitigation #Compliance

On 30 April 2024, the Reserve Bank of India released an updated Guidance Note on Operational Risk Management and Operational Resilience. This guidance note replaces the earlier guidance of October 2005 and is based on the Basel Committee on Banking Supervision (BCBS) revised documents issued in March 2021, on Principles for the Sound Management of Operational Risk as well as on several international best practices. The revised guidelines emphasise the critical importance of managing operational risks—those stemming from people, processes, technology and external events—in today’s complex and dynamic environment in which Regulated Entities (REs) operate. Read PwC’s perspective on the full guidance note and understand how implementing these changes is essential for mitigating operational risk and enhancing operational resilience: https://bit.ly/3LCnHvy #RethinkRisk #OperationalRiskManagement #FinancialServices #RiskMitigation #Compliance Sivarama Krishnan | Rounak Shah | Amol Bhat

“Climate risk management is an imperative, and becoming an urgent need for banks to act, in order to reduce potential financial risks arising from climate risks.” - Sourajit Aiyer speaks on steps towards Climate Risk Management for banks as part of the knowledge session on “From climate risk management to transition plans: RBI draft disclosure guidelines and steps for Indian banks.” The knowledge session, organized by Indian Banks` Association with interventions from V Chandrasekar, Senior Advisor (Corporate & International Banking), IBA and Neha Kumar, Head – South Asia Program Climate Bonds Initiative. It garnered active participation from banking officers across functions, including risk, credit, and business strategy functions. #IICRSF #ClimateFinance #RBI #Banking #SustainableFinance #ClimateRisk

Lessons from the IL&FS Crisis: Strengthening Credit Risk Management This episode in India’s financial history exposed how gaps in credit risk practices—such as overleveraging, concentration risk, and inadequate monitoring—can have far-reaching consequences, not just for individual institutions but for the entire financial ecosystem. Key Takeaways for Financial Institutions: Independent Risk Assessments: Rely on comprehensive evaluations rather than borrower projections or third-party reports. Portfolio Diversification: Avoid overexposure to single borrowers or high-risk sectors. Early Warning Systems: Continuously monitor borrower performance and flag potential risks early. Transparent Structures: Simplify organizational setups for better financial visibility and risk assessment. Regulatory Compliance: Proactively align with evolving guidelines to stay ahead. The IL&FS crisis is a stark reminder that strong credit risk governance isn't just about compliance—it's about sustainability and trust. At Prime Equation LLP, we specialize in process re-engineering and risk frameworks tailored to the unique needs of Banks, NBFCs, and Fintechs. By leveraging our expertise, we help institutions build robust systems that anticipate risks, manage exposures, and enable growth. #CreditRisk #FinancialResilience #RiskManagement #PrimeEquationLLP #LeadershipInFinance

With the number of wilful defaulters increasing in India, Financial Institutions and lenders must keep a robust credit risk management system in place. An effective credit risk management strategy identifies risks before they snowball into a crisis. Among the most vital components of an effective credit risk management framework are early warning systems. But how can it help you? Read on to learn more and discover how you can build an early warning system for proactive credit risk management: https://lnkd.in/dSFk7h48 #Finezza #Finance #CreditManagement #LOS #LMS

The Reserve Bank of India (RBI) has updated its operational risk management guidelines, extending them to non-banking financial companies (NBFCs) and housing finance companies (HFCs) alongside commercial banks. The revised guidance emphasizes the implementation of robust information and communication technology (ICT) risk management programs aligned with operational risk management frameworks. CXOtv news | Techplus Media | Techplus Media Group  Kalpana Singhal | ANUJ SINGHAL | Naveen Singhal #CXOTVDailyNews / #CXOTVnews Read the full news article at: https://lnkd.in/g-dpPQCM #RBI #OperationalRiskManagement #NBFCs #HFCs #ICTRiskManagement #ThirdPartyRisk #OperationalResilience #RiskAssessment #DueDiligence #ResponseAndRecoveryPlans #RegulatoryGuidelines

The modern financial landscape presents a multitude of complex challenges from technological disruptions to geopolitical uncertainties. For institutions to thrive, they must embrace robust and forward-looking risk management frameworks. Join us for the 4th episode on CNBCTV-18 under IRM India Affiliate's What’s The Risk?™ initiative. As the world’s leading certifying body in #EnterpriseRiskManagement (ERM) exams across 140 countries, this initiative underscores IRM's unwavering commitment to driving thought leadership in every industry and discipline. The episode airs today, 21st Sept at 04:30 PM IST only on CNBC-TV18 📺 and hear our distinguished panelists talk about elevating operational risk management in India's banking sector. Hersh Shah, Amit Talgeri, Axis Bank, Ashwini Kumar Choudhary, Union Bank of India, Subash Narayanan, DBS Bank India, Sanchita Mustauphy, Aditya Birla Capital #FinancialSector #Resilience #riskintelligence #riskready #ChiefRiskOfficer #IRM #IRMIndia #InstituteofRiskManagement #IndiaGetsRiskReady #WhatsTheRisk #OperationalRiskManagement

The Reserve Bank of India (RBI) emphasizes the need for enhanced audit panel oversight and risk management in Urban Cooperative Banks (UCBs). Leverage COMPLIANCE iNBOX's peer review and e-audit features, to effectively manage risks and stay on top of regulatory requirements. Stay ahead with COMPLIANCE iNBOX!   #auditoversight #riskmanagement #UCBs #RBI #ComplianceiNBOX #PeerReview #EAudit #RegulatoryCompliance #StayCompliant #BankingIndustry