Blogs

Board Evaluation

The recent failures of corporate throughout the world have led the regulators to closely review the mechanism and guidelines that govern the functioning of the Board. The Board evaluation process is of utmost importance as it relates to the long term objectives of the company.

The following information provides in - depth information on Board Evaluation, the Methods available, and related information

Contract Risk
Contract risks arise from the possibility that the legal contracts of the company will contain clauses obligating the business to terms and conditions that are unreasonably impacting the company in a negative manner. This risk type could have risk events such as performance penalties, contract termination penalties, warranty terms, non standard clauses not reviewed by legal department, unfavourable clauses inserted by counterparty without knowledge of the company etc.

Following are suggested training program for fraud risk.

Life Insurance Fraud overview
-Regulatory & Legal requirements & provisions viz a viz Fraud
-Role of various stakeholders – Sales/agency force, medical examiners, underwriting, policy issuance, policy admin/claims, risk management, SIU post facto analysis

-Fraud Detection Technique
-Detailed Fraud Scenarios based on industry - India & Globally (we will take numerous specific scenarios & red flags)
-Case Study on Insurance Fraud

Rs 20,000 without KYC.... Rs 2,000 without additional factor authentication. It is not enough. India's exponential use of digital wallets and prepaid accounts seem to leave behind The RBI, Banks and other regulators who are grappling with adequate regulatory measures to make sure that the ecosystem can withstand the volumes with least amount of frauds and losses.

IMA is finally here in India. RBI has issued guidelines for formal application process with respect to IMA. Banks now need to take a call whether they would like to go for IMA or continue with SMM. All of this depends on the individual bank's Business case, its existing infrastructure and its overall prepardeness for such migration.

The likely problem

1. Banks in India, especially National and Government supported banks, have a
very large network of branches across which business is conducted. These
branches operate using Corporate business policies and procedures that were
drafted many years ago and are using technologies that are either old or
patched.

Often vendors are called for whenever there is a requirement for implementation of a risk management system. We would like to discuss some of the key features of a tool that can help in management of Liquidity risk.

Indian companies are today facing challenges they have never faced before. A multitude of regulatory changes, immense competition, black swan events, deep recession and so on. Taking on these challenges is the need of the hour. Companies are today looking to make a change in the fundamental ways of doing their business. One of these changes is to strengthen or introduce effective risk management

All companies need to be prepared to take on the emerging risks and challenges that cannot be well defined.

Manoj Jain- Co-Founder and Director was invited as a panelist for the seminar "Commodity Risk Management for Indian Banks" organised by CII.