M Damodaran |Session 3|Value of Risk Management|Model Risk Code|Global Risk Management Institute|MRC
Mr M Damodaran, Chairperson, Excellence Enablers and Former Chairman, Securities and Exchange Board of India (SEBI). He also headed the Risk Task-force within Model Risk Code. He mentioned about, the value of risk management in companies is greater today than ever before. The corporate didn't understand risk management before, hence, the risk committee should be mandated for the companies. However, the constitution of the Risk Management Committee in some corporates has been a half-hearted exercise, in terms of composition, time commitment, and the rigour of meetings. Most importantly, the understanding, categorisation, and mapping of risks, probability and impact of risks and looking at risk management mechanisms, remained a tick box exercise.