Invest India: Enterprise Risk Management for Startups
"Invest India has been working towards strengthening the startup ecosystem, and with the help of corporate partners we are making our startups enterprise-ready. Frugal innovations, which form the core of the Indian startup ecosystem, provide a plethora of solutions to combat the socio-economic issues in the country and across the globe"
MD & CEO
AICTE: Supporting the development of enterprise-wide risk intelligent students and education institutions through IRM's 5-level qualifications and research projects
"Risk management and risk-taking is common in the industry, be it in terms of R&D investment or developing a new product or new market. Hence entrepreneurs and startups on one end and angel investors on the other end of the spectrum do indulge in risk-taking and are engaged in risk management. Governments do take risks in international affairs, introducing new laws, reforms, etc. However, in the education sector, except management schools, where risk management is a formal course, there is no other inkling of risk management. The COVID19 crisis has made everyone in the education sector realize this pretty well in terms of the continuance of classes, examinations, admissions, and new academic sessions.
AICTE & IRM being the world leader in ERM Professional Qualifications across 143 countries have partnered to prepare institutions for the uncertain world and make students risk-ready with an important skill of enterprise-wide risk management through IRM's scholarship program and professional examinations."
Read the coverage on "Risk-proofing the future of education" by Dr. Sahasrabuddhe and Mr. Hersh Shah
Deloitte: The CRO Circle, exclusive platform and community of Chief Risk Officers
“The nature and magnitude of risks around us are continuously evolving and thus risk management functions, professionals, and the CRO community need to continue to reinvent themselves. Through the CRO Circle we aim to bring together the best of risk management minds together, to champion the cause of repositioning risk management as a strategic enabler to business. We are thrilled to collaborate with IRM on this initiative as we look forward to partnering with India Inc on the “Future of Risk”. As India Inc. battles the complexities of business to survive and thrive, risk management becomes paramount; and it is time for organisations to expand the purview and evaluate through a risk lens, strategies that cover the entire business lifecycle from potential threats (not limited to cyber but also financial, operational, and regulatory) across the enterprise-wide network.”
President, Risk Advisory,
Deloitte Touche Tohmatsu India LLP (DTTILLP)
Eduvanz: Creating an ERM culture in the NBFC sector and supporting IRM students
“Over the years, we have also seen risk management evolving in the Fintech sector, from the crisis in 2019 when banks ceased lending to NBFCs, to the current practice of risk-sharing with Fintechs and NBFCs. Post-COVID, maintaining seamless business operations is a bigger challenge for organizations overgrowth or profitability.” “In the coming days, holistic risk practices will be the core of all business strategies for organizations, whether large or small. The agility and adaptability to the ever-changing environment will determine the success or failure of enterprises in the coming days, and By partnering with IRM, we hope to create a wider awareness of ERM practices in the industry and among students,”
Chief Risk Officer
J.B. Boda Group: ERM education including application in emerging areas like fintech, artificial intelligence, cryptocurrency and more
“As (re)insurance brokers, assessing, managing and transferring risk is the bedrock of all our operations and decision-making for our clients. The company has always emphasised on enforcing risk management practices in all the industries they deal in with their corporates and multinational companies. When working with our clients, we have to be vigilant of risks present currently and ones that are foreseen in the future, to protect their interests through a measured approach. Implementing well-established ERM processes was a key factor in our having been able to optimise the operations and ensure business continuity in the challenging times, while continuing to provide exemplary service. We are excited to collaborate with IRM India Affiliate to educate our clients in this space, not only in India, but globally where we operate in 80+ countries (in other countries as well), and spread awareness about the strategic importance and benefits of proactive risk management. With their expertise and our global network, we look forward to building greater resilience in the Indian and worldwide insurance industry for our clients in various fields.”
J.B. Boda Group
NIMSME (Ministry of MSME, Govt. of India): Preparing Indian MSMEs towards enterprise-wide risk awareness and strengthening their defences against threats / crises, through a series of policy and education initiatives
“National Institute for Micro, Small and Medium Enterprises (ni-msme), an organization under Ministry of MSME, Govt. of India has always been conceiving specialised need-based initiatives in tune with the changing policy and economic situation. ni-msme is not a mere world-class training institute but a comprehensive hand-holding institution for the MSMEs and entrepreneurial youth in India and the developing world. ni-msme has embraced pertinent concepts and technologies in its functions to keep pace with the tenor of the times. The current pandemic has called for a serious understanding of enterprise-wide risk assessment and a culture that shapes risk-based decisions in organisations irrespective of their size. With IRM’s expertise in enterprise risk management and research, ni-msme is extremely proud to work together in empowering India’s MSMEs and small business owners with the knowledge and resources required to respond to enterprise level risks including uncertain external events that are constantly evolving in today’s fast paced dynamic world. This collaboration will help micro, small and medium businesses to identify, plan and mitigate the associated financial and enterprise risk in their enterprises but will also train them to utilize the available resources, avail government support, MSME support schemes and develop their own entrepreneurial capabilities to generate employment by becoming “Atmanirbhar”, ultimately helping India to become a self-reliant nation, Atmanirbhar Bharat - the vision of the Honourable PM Shri Narendra Modiji.”
Ms. S Glory Swarupa
National Institute of Micro, Small and Medium Enterprises (ni-msme), an organization of the Ministry of MSME, Govt. of India
Cipla: Strengthen the risk ecosystem of the Indian pharmaceutical sector
As a global organisation dealing with different geopolitical realities, focus on Risk Management is pivotal. It forms the core of our decision-making process and is an integral part of every function, right from product development to distribution. We firmly believe that our partnership with IRM India will help us create awareness of risk management, help formulate best practices in the sector, reach out to different stakeholders, and build a durable and agile ecosystem.
Global Head of Internal Audit & Risk Management
BCAS: A professional ERM education track to CA's through IRM and empower CA firms to build capability in risk consulting and allied services
“In recent years, we have observed that the role of a CA has evolved beyond being a mere auditor or accountant. Today, they are also expected to guide robust organisational growth, by helping their company stay agile and responsive to rapidly-changing business dynamics.”
Mr. Abhay Mehta,
Bombay Chartered Accountants' Society
India's first and only jointly certified Professional Programme in ERM (L1 to L3)
"The Blended Learning Enterprise Risk Programme will address the demand-supply gap in ERM by helping aspirants enhance and develop the necessary skills and knowledge base in this area. The intensive classroom-oriented virtual learning will be delivered by experienced faculty from NMIMS CIS, enabling faster doubt clarification and more effective preparation through appropriate evaluation approaches. We recognize IRM’s global leadership in professional ERM education, and together we are committed to creating a globally-qualified talent pool of professionals.”
Dr. Ramesh Bhat
Vice Chancellor, NMIMS (Deemed-to-be University)
IRM India Affiliate, IHCL collaborate to strengthen risk-readiness in hospitality
“The hospitality industry went through some difficult times in the past two years and ERM has helped in assessing, mitigating and monitoring the risks in such trying times. IRM India helped in strengthening the hospitality industry’s preparedness for risk-taking. The partnership between IHCL and IRM would be a win-win for both as well as for the industry.”
Vice President, Internal Audit
National Institute of Securities Market (NISM) - an educational arm of SEBI (Securities and Exchange Board of India)
A mature enterprise-wide risk management process requires the right people, resources, and culture to be in place and effective risk leadership is one of the most essential components of building healthy risk culture. National Institute of Securities Market and the Institute of Risk Management - India Affiliate have launched the first edition of the Enterprise Risk Management Summit to elevate risk-leadership in the country through networking, panel discussions, and masterclasses. NISM and IRM will line up discussions on critical themes shaping the risk agenda in the Boardrooms through the Annual Summit.
UltraTech Cement Limited
"Risk management is key to build a sustainable business. UltraTech has developed comprehensive risk management framework and integrated ESG into its ERM process. We are delighted to partner with the Institute of Risk Management to further strengthen our enterprise risk management process and build a risk awareness culture for the industry. We look forward to this association being a mutually enriching one."
Executive Director and CFO
UltraTech Cement Limited
“Mindler has been at the forefront in helping students make the right career choices. In the past six years, we have helped 2.5 million students find the right career path. The Virtual Internship Program has thirty-six career options and now, we have added the ERM program. The program is very much in line with the National Education Policy (NEP) 2020. We are delighted to collaborate with the leading global body for ERM qualifications for this program. We want to create an ecosystem where students get opportunities to understand how different careers function. This program provides an opportunity to enter a simulated world and try out ERM as a career option. We are positive that this collaboration will benefit millions of students.”
Head of Mindler Immerse and New Initiatives
"We've already developed a robust risk culture that fosters risk-based decision-making across all functions in the organisation. Our association with IRM is timely and we hope to set a global benchmark and drive best practices in enterprise risk management."
Chief Financial Officer,
India Risk Taxonomy 2023-24
In today’s rapidly evolving world, understanding and effectively managing risks has become paramount for nations striving for stability, progress, and resilience. As risks and uncertainties continue to loom large, there are number of issues which the business leaders are grappling with in current times. In an endeavor to support the business community through an in-depth understanding of these challenges, KPMG in India, in collaboration with IRM (India Affiliate), a leading professional body for Enterprise Risk Management (ERM) examinations across 140 counties, have launched the first edition of “India Risk Taxonomy 2023”. This report aims at understanding various risks which India is facing today, shedding light on the multifaceted challenges that confront the nation across economic, environmental, social, and geopolitical spheres. It also aims to provide real insights to business leaders to respond to the ever changing business complexities. India's risk taxonomy is an amalgamation of formidable challenges that demand attention from policymakers, businesses, and citizens alike.
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