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Our newsroom is your source of insights and opinion provided by IRM India Affiliate through authored articles, blogs, and interviews on trending business issues and enterprise-wide risk management.
Our newsroom is your source of insights and opinion provided by IRM India Affiliate through authored articles, blogs, and interviews on trending business issues and enterprise-wide risk management.
February 27, 2024
2024
A robust ERM system forms the cornerstone for optimising internal audit planning, facilitating thorough internal control assessments, and cultivating an effective framework for risk management and audit efficiency, thereby inspiring confidence in statutory auditors and other stakeholders through proactive risk identification and mitigation aligned with business priorities.
February 02, 2024
2024
In the corporate landscape of governance, Enterprise Risk Management (ERM) and Internal Audit (IA) are morphing under the realm of increasing complexities of business operations and a series of external shocks, so called polycrisis. While they both aim to protect and enhance business value, their functions and approaches are inherently different. Combining these roles may seem efficient, but it can lead to blurring the three lines of defence.
December 27, 2023
2023
The IRM Certification has expanded with a well-structured track from Level 1 to Level 5 or Stage 1 to 5
December 22, 2023
2023
Risk is part of every business, from financial crisis to the pandemic, cyber threats to supply chain disruptions and fake news to talent issues. The risks facing organisations are real, and there is an increasing demand for skilled and qualified risk-intelligent professionals in every department who can help improve organisational resilience in an ever-evolving global landscape.
November 08, 2023
2023
An India-based SME experienced growing pains as demand for its products swelled. IRM’s Hersh Shah talks us through the rescue plan: a formalised approach to risk and a risk culture built on accountability and communication.
September 05, 2023
2023
Micro, Small, and Medium Enterprises (MSMEs) are the lifeblood of many economies globally. They are pivotal in driving economic growth, creating jobs and fostering innovation.
August 22, 2023
2023
The world is increasingly complex and interconnected. To manage this change, an organizational-level focus on risk — preparing for them, mitigating them — is essential. For this, organizations must focus on risk-intelligence: the ability to identify, assess, and manage risks effectively in various domains, from business to finance to health and beyond.
July 19, 2023
2023
The Enterprise Risk and India Regulation online course (ERIRC), is designed to build ERM-related compliance knowledge and expertise of professionals working in risk, compliance, audit, investor relations, merchant banking and IPO services.
April 14, 2023
2023
The gig economy is altering work cultures across the world, and India is expected to lead the way, with the total number of gig workers expected to rise to 23.5 million by 2029-30, according to a Niti Aayog. The pandemic has played a huge role in this shift toward gig work, and according to Niti Aayog, the sector will witness global growth at a compound annual growth rate (CAGR) of 17% to become a US$450+ billion industry by 2024.
February 12, 2023
2023
The 21st-century understanding of the gig economy is rooted in the context of macroeconomics and labour market dynamics. However, it is intriguing to know that the gig economy has a long history, with roots dating back to the early 1900s.
January 20, 2023
2023
Risk management for any business is a controlled and logic-based process. It allows organisations to deal with possible future events that may hinder them from achieving financial and strategic goals.
January 13, 2023
2023
To say that risk is an inherent component of all aspects of our lives is an understatement. With black swan events such as the pandemic and acronyms such as volatility, uncertainty, complexity and ambiguity (VUCA) and Rapid, Uncertain, Paradoxical and Tangled (RUPT) becoming part of the global business lexicon, the need for basic risk intelligence among the general populace has never been more critical.
January 07, 2023
2023
Rajeev Tanna, CFIRM Strategic Advisory Board of IRM India Affiliate said that the government could work on simplifying/enhancing coordination between various Centre and State Government entities/departments towards approvals for different aspects of the project including billing, collections, clearances, extensions, etc. "This will ensure timely delivery of the projects within quality parameters. A Project Management Group could be created to monitor the smooth execution of large-scale Infrastru
December 07, 2022
2022
Every day, thousands of young people make choices about their careers, hopes and dreams that will not only shape their future but also impact the world at large. However, in today’s highly competitive job market and economic landscape, career decisions can be challenging. So how can we aid youth to make better decisions? And what is the role that risk management can play in this landscape?
November 11, 2022
2022
“Risk hai toh ishq hai” — that popular dialogue from Scam 1992 caught the imagination of many when the Web series was released in 2020. After two years of the pandemic, corporate India too seems to be falling in love with the functions that risk officers deliver. “The CRO [chief risk officer] is now the rising hero in the boardroom,” is something Hersh Shah, chief executive officer of the India affiliate of Institute of Risk Management’s (IRM), a professional body imparting enterprise risk-m
September 13, 2022
2022
The National Institute of Securities Markets (NISM) and the Institute of Risk Management (IRM), India Affiliate have organised the first-ever Enterprise Risk Management (ERM) Summit to advance risk leadership in India and help strengthen the economy against uncertainties. The Summit will take place on September 24, 2022, from 10:30am to 4:30pm IST at the NISM Patalganga Campus, and has been organised exclusively for chief risk officers, risk management committee members, and independent director
August 19, 2022
2022
If there is one industry that was hit hard by the Covid-19 pandemic, it is tourism and hospitality. In India, around 14.5 million people lost their jobs during the first wave, 5.2 million people lost their jobs in the second wave, and 1.8 million people lost their jobs in the third wave. However, in 2022, the global travel and tourism sector has started to recover as the world’s pent-up desire for travel rekindles.
July 11, 2022
2022
India has witnessed an exponential growth of digital payments over the past few years. With nearly 90% of consumers expected to use digital payments in the near future, the volume of online transactions is likely to surpass a whopping $500 billion between 2019 and 2023. This is, in large part, due to the country’s booming digital economy that has been spurred by rapid technological advancements, increased internet penetration and mobile phone users, widespread adoption of online payments by cons
June 30, 2022
2022
Risk is a component of daily life. Whether it is a supply chain, technology, infrastructure, airport security, housing, or hospital, there is a need for organisations to manage risks effectively to achieve their goals and objectives. Risk management is the process of proactively identifying, analysing, and mitigating risks, which enables organisations to foresee emerging threats and develop strategies to minimise the impact. Whether it is the COVID-19 pandemic, the Ukraine-Russia war, the crisis
May 01, 2022
2022
The MSME sector is characterised by limited resources, which also makes them vulnerable to risks such as those arising from cyberattacks, liquidity crunch, lack of succession planning, and poor reputation management.
March 30, 2022
2022
I started my career after B-School in the BFSI sector in the mid 90’s in the newly liberalised India and worked my way through multiple functions of Credit, Working Capital Finance and Planning and during this journey, I was influenced by a mentor who suggested Enterprise Risk Management (ERM) as the profession of the next century and guided me to the Institute of Risk Management (IRM)
February 21, 2022
2022
Insurers are leveraging AI to identify underwriting risks and optimise risk selection. Smart algorithms comb through industry databases to cull pertinent data on customers, efficiently segregating them into pre-decided pricing categories...
October 29, 2021
2021
Any investment, no matter how stable, involves a certain amount of risk, and smart investment aims for minimising these risks while maximising returns. One of the most effective means of achieving this objective is through portfolio risk management, which involves the identification, assessment, measurement, and mitigation of risk associated with any investment.
October 28, 2021
2021
Risk management in finance includes identification, analysis, and prioritisation of risks, followed by an appropriate allocation of resources to monitor and mitigate their impact. While risk management is seen largely in the purview of businesses, it is equally important in the sphere of personal finances.
September 20, 2021
2021
As VR world becomes more sophisticated and immersive, users can find it increasingly difficult to separate the virtual from the real.
October 04, 2021
2021
Even before the pandemic hit last year, the global economy was undergoing a rapid evolution with technological innovations and changing geopolitical realities driving the transformation. Covid-19 has accelerated the need for Indian businesses to develop a conscious approach to Enterprise Risk Management
September 09, 2021
2021
BCAS to offer a professional ERM education track to CAs through IRM qualifications
April 23, 2021
2021
While risk management is recognized as a critical function for organizational stability and growth, its importance in personal finance is less discussed
February 12, 2021
2021
Hersh Shah, CEO, India Affiliate of Institute of Risk Management, UK, and Udai Chopra, Corporate Mentorship Board Member, IRM India and Head of Expansion and Special Projects at Meddo Health talk about how startups can leverage their strengths to navigate uncertainties and crises successfully.
December 29, 2020
2020
Ease of Doing Business for MSMEs: ERM should be a mandatory process for MSMEs, in order to improve their chances of sustained and successful longevity. However, it is often perceived simply as an added cost.
December 17, 2020
2020
With the global pandemic increasing digitisation, ed-tech startups have re-vamped the way India studies, learns and grows
November 05, 2020
2020
HR must move from a mere executor of orders, to a strategic agenda-setter and a sharp influencer. In the process, it will not just transform the organisation, but also its own identity and value in the company.
September 16, 2020
2020
The year 2020 which, ironically, also represents perfect hindsight, brought with it turmoil that shook up industries across the board. Nearly every sector experienced disruption and persisting challenges amidst the COVID-19 pandemic.
September 06, 2020
2020
The ability to foresee and tackle risks will be sought-after; companies want to exit the crisis with fewer losses
June 10, 2020
2020
isk is critical to all entrepreneurial ventures. But there is a need to move from a pure compliance-based approach (to risk) to Enterprise Risk Management.
May 26, 2021
2021
A long-term investment plan is necessary for a secure future. Whether it is about creating a retirement plan or ensuring comfortable savings, it ensures that your money is secure and growing at a healthy rate
May 24, 2021
2021
The increasing awareness of risk management also holds scope for risk professionals to establish their own ventures
May 18, 2021
2021
In a rapidly-changing economy, where businesses must deal with multiple emerging risks, it is critical to develop resilience through a strategically-embedded risk-aware culture in the organisation.
April 01, 2021
2021
The most critical condition for opening up an educational campus is ensuring safe practices within the premises.
March 13, 2021
2021
The author takes a look at what the entertainment sector can do to snap out of the slump brought about by the pandemic in 2020...
March 03, 2021
2021
A diversified portfolio minimises risks while investing for the long-term. It allows for a certain amount of high-return investments by offsetting possible risks through more stable alternatives.
February 28, 2021
2021
The coronavirus pandemic has reshaped workplaces and economies to focus on business survival and continuity, while strengthening resilience for the long term.
January 25, 2021
2021
A career in Risk Management is in high demand now, thanks to the problems faced by the various industries due to Covid-19. Here are the degrees and certifications, skills required, growth prospects, career options and salaries in this field.
January 04, 2021
2021
Businesses should capitalize on the opportunity this year has provided, to evaluate how they fared in terms of risk management and achievement of business objectives
October 13, 2020
2020
The business landscape, especially for startups, is fraught with risks. Therefore, it is de rigueur that they foster a robust risk culture to safeguard themselves against any threats or uncertainties.
August 28, 2020
2020
Many companies across the globe are battling for survival by creating a risk-proof ecosystem and finding alternative avenues for business growth.
August 27, 2020
2020
The present situation has served to drive home the knowledge that a threat may present itself without warning. It has taught us that risk is a constant, and that it affects every business in all aspects. Risk management is finally being understood to be of vital importance, and many organisations are shifting to adopt a much more risk-aware strategy and develop teams of risk professionals
August 13, 2020
2020
Whether it is turbulence or uncertainty; risk is inherently involved in every business scenario and hence, risk and risk literacy must become part of common business parlance
July 10, 2020
2020
Investing money has forever been a risky business. There is always the possibility of adverse outcomes and this can be due to myriad permutations and combinations.
June 24, 2020
2020
Ultimate cause is always the failure to anticipate a business risk and plan to mitigate its impact. In an increasingly global business scenario, opportunities and threats have both multiplied and it is no longer enough for companies to survive. They need to thrive, and successfully managing business risks is the only way to do that.
June 16, 2020
2020
As the world economy has been hit hard by the Covid-19 pandemic, organisations, especially, business enterprises are realising the importance of risk managers. Risk officers can help an organisation in framing and acting on the strategies to reduce and cope with the impact of an unforeseen threat similar to the one posed by the deadly coronavirus pandemic.
June 11, 2020
2020
A person who performs a certain function is valuable, but a person who understands risk in all its forms, and can successfully apply their understanding to the function to protect the organisation will be invaluable
June 01, 2020
2020
Scenario planning is a technique used to map various possible situations, from high-probability to low-probability, that may impact an organisation, and to chart multiple courses of action accordingly.
May 22, 2020
2020
As we continue our fight with COVID-19 across the globe, we are confronted with the paradox of studying the past, to prepare for uncertainty and unexpected events in the future. At times like these, we must cultivate principles, tools, and techniques of risk management, business continuity, and crisis response that can be deployed to assist organisations in preparing and responding to situations like this. Below are a top 7 takeaways about mitigating risks from the pandemic:
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