To know more about the Risk Code, please visit the link:https://indiariskcode.grm.institute/blogs
Given lack of industry wide policies and implementation standards around risk management, FICCI and GRMI realized there is a significant opportunity to drive thought leadership in the space.
To create a Model Risk Code for the Indian industry and to develop effective enablers for practical implementation along with enhancing awareness among corporate leaders on role of risk management in driving sustainable growth.
The Risk Taskforce to ultimately transform to an independent “Risk Centre of Excellence” over a 12-18 months period under the aegis of FICCI.
FICCI and Global Risk Management Institute are pleased to announce the release of the ‘Model Risk Code’ on Nov 24, 2022 at FICCI Federation House, New Delhi. The Model Risk Code is meant to ‘Enable Faster, Bolder, Risk-intelligent Decisions’ for corporates and be a catalyst to a resilient, agile and future-ready India Inc. The MRC is a practical playbook with best practices and guidelines relating to risk management. It is intended to equip corporates with an enabling tool to implement robust risk management practices. The Model Risk Code initiative is primarily authored by Mr. Subhashis Nath, Founder & CEO of Global Risk Management Institute with guidance from an 18-member Risk Taskforce led by Mr. M Damodaran, former Chairman, SEBI.
Creating a "Model Risk Code" for the Indian industry
Create a practical risk management guidebook for Boards, Executive and Operating management.
Develop effective enablers for practical implementation of risk management.
Influence policy making and regulations in India in the risk management space.
Continuously increase awareness across corporate leaders on role of risk management in creating sustainable business value.
Chairperson, Excellence Enablers and former Chairman, Securities and Exchange Board of India (SEBI)
Past President, FICCI & Chairman, Xpro India Limited
Vice President, FICCI and Managing Director, Indian Metals & Ferro Alloys Ltd
Academic Council Chair and President at GRMI, Former Senior Finance Professor at FMS Delhi and visiting faculty at IIM Raipur & IIM Jammu
Founding & Managing Partner, BMR Legal
Former Vice-Chancellor of the SVKM's NMIMS
Former CEO of KPMG India, current Board Member of KPMG Dubai
Founder & Mentor of GRMI, SVP & Enterprise Risk & Compliance – Service Line Leader, Genpact
Former IIA Global Chairperson
Former Senior Partner at E&Y LLP (India)
Former Non-Executive Chairman, GSK
Former Deloitte India, Chairman
James J. Schiro / Zurich Chair in ERM at St. John’s University
Former Chief Risk Officer, Citibank
Financial Services & PE India Practice Leader, Spencer Stuart
Chief Operating Officer, PwC India
Executive Chairman, Shardul Amarchand Mangaldas & Co Advocates & Solicitors.
Non-Executive Chairman, Yes Bank
Former Compliance & Internal Audit Head, Bharti Airtel
Senior Professor, Fore School of Management
National Business Finance Controller, Indus Towers Limited
Former Group Executive President - Corporate Audit, Aditya Birla Group
Co-Founder, GRMI & Consultant, Genpact Enterprise Risk & Compliance
The greatest thing India Risk Code can do is to put down in plain everyday language how companies should approach the subject of Risk management.
Suggest how do they address the risks that are top management, board created risks and the major overarching risks like climate change or geo political changes, timely.
Former Senior Partner At E&Y LLP (India)
With complexities increasing, India Risk Code will be another landmark because it will be helping companies to focus on areas that really would lead towards better risk management practices in their own organization.
Former Vice-Chancellor Of The SVKM's NMIMS
This is first of those initiatives that should be compounded and multiplied to be able to build a better and effective structured Risk Management infrastructure across businesses.
Non-Executive Chairman, Yes Bank