Session Risk-Smart Organizations-Building & Preserving Value

Session on “Risk-Smart Organizations-Building & Preserving Value” by Finesse

Risk Smart Organizations Building and Preserving Value

Finesse-the Finance Club of IIM Nagpur organized a  session on “Risk-Smart Organizations – Building & Preserving Value” hosted by Mr. Subhashis Nath, Global Senior Partner – Enterprise Risk & Compliance from Axis Risk Consulting,Mentor-GRMI. The session helped the students at IIM Nagpur to gain insights on:

1) The parameters that are widely used to analyse the risk: Impact, Likelihood and Velocity

2) Use of ERM in achieving an entity’s objectives, set forth in four categories: Strategic, Operations, Reporting, Compliance

3) The Risk Management Process: Identification, Analysis(Measure), Evaluation(Prioritize), Respond

4) Value Drivers for Competitive Advantage: Physical Assets, Customer Assets, Financial Assets, Employee/Supplier Assets, Organisational Assets

5) How the Risk Management Approach is evolving from Traditional Conflicting Actions to Effective Concerted Focused Action

6) 5 main ways to manage risk: Acceptance, Avoidance, Transference, Mitigation and Exploitation

7) Increase in the importance of companies having Chief Risk Officer

8) How the career in Risk Management will be and the skills required to excel in it.

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