Excerpt from Eeletsonline Article, Published on Apr 01, 2024
The Elets 8th BFSI CXO Masterclass, held at O by Tamara in Thiruvananthapuram, Kerala from February 8-11th, served as a pivotal platform for industry leaders to delve into the intricate realm of regulatory compliance and risk management within the BFSI sector.
During the event, a compelling dialogue transpired among eminent figures shedding light on the evolving landscape of regulatory compliance and its profound impact on risk management strategies.
Rajaram Manian B, Chief Risk Officer at Adani Capital, underscored the paramount importance of regulatory compliance in safeguarding the interests of stakeholders within the banking and telecommunications domains, particularly since the liberalization of the banking sector in 1991. Manian highlighted the transformative journey of regulatory frameworks, initially geared towards combating money laundering and fraud, evolving to empower risk managers with enhanced authority and resources for navigating contemporary complexities effectively. He emphasized the pivotal role of compliance in preserving public wealth and bolstering economic stability amidst the emergence of diverse banking models.
Shaik J. Ahmed, Vice President-Head of Information Security Risk & Governance at Mashreq Bank, offered invaluable insights into fostering organizational resilience and efficiency amidst evolving business landscapes. Ahmed articulated the challenges of striking a balance between operational ease, customer experience, and stringent regulatory requirements. He emphasized that regulatory compliance not only serves as a foundational pillar for effective risk management but also augments the overall resilience of financial institutions. By adhering to regulatory mandates, banks can fortify their risk management frameworks and deliver holistic solutions tailored to mitigate emerging risks effectively.
The discussions at the Elets 8th BFSI CXO Masterclass underscored the imperative for proactive engagement with regulators, adherence to evolving regulatory frameworks, and a steadfast commitment to enhancing organizational resilience and efficiency within the BFSI sector.
To delve deeper into this topic, please read the full article on Eeletsonline
