Major focus on Risk Management & Compliance at Banknet's CTO-CXO Summit

The need to improve risk management is the top concern of the banks today. The depth and duration of the credit crisis has forced banks to take a critical look at how they manage risk and has exposed some significant weaknesses in risk management across the financial services industry. The collapse of several high profile banks, the emergency bail out of others, have highlighted the critical importance of risk management.

Risk Management & Corporate Compliance have been identified amongst the 'Top Priority Areas for Banks in 2009' by Banknet’s Research Team. These issues and more will be addressed at Banknet's Fifth Annual Edition of CTO-CXO Summit on 5th June 2009 at Hyatt Regency, Mumbai.

Risk management is becoming increasingly complex. Managing risk has acquired greater dimensions in the wake of the Structural changes that has come about the international financial world. Financial Firms can no longer expect to survive in this market, without managing both risk and return.

The banks need to put in place an efficient operational risk management system for this purpose from not only the compliance perspective but from the perspective of the benefits that would accrue to the banks in the long run.

Basel Committee has called for stronger risk management and governance standards in the banking sector. Committee has also announced enhancements to the Basel II capital framework to strengthen in a fundamental way bank capital adequacy, risk management and supervision.

The implementation of Basel II with regard to Operational Risk is an area where technology can play a major role. The capturing of the operational loss data and to correctly assess the capital charge on this account would be a challenging task as the same is very much a data and technology intensive endeavour.

To sustain growth and enhance efficiency, Governance and Regulatory Compliance are critical areas. A proper handling of the IT Governance issues by synergizing the disparate ‘silos’ within the organisation would help in creating a robust system internally and provide a solid platform to prosper in the long run.

Implementation of XBRL (Extensible Business Reporting Language) in the banking and financial system will not only help in regulatory compliance but also act as an effective tool for Management Information System (MIS) within the organisation.

The Basel Committee on Banking Supervision in May 2009, has issued Principles for sound stress testing practices and supervision. Stress testing plays an important role in strengthening not only bank corporate governance but also the resilience of individual banks and the financial system

C-Level Executives from State Bank of India, Bank of India, Kotak Mahindra Bank, IndusInd Bank and IBM will participate in the Exclusive Session on “Risk Management & Compliance” at Banknet's Fifth Annual CTO-CXO Summit. The theme of the CTO-CXO summit is "Aligning IT to Effectively Manage Current Crisis"... Read More



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