A seminar on risk management was organised on 2 August 2011 at the Cinnamon Lakeside, Colombo by BC Computers (Pvt) Ltd., in collaboration with its strategic partner Dion Global Solutions Ltd.
In the awake of the recent global financial crisis, risk management has become the need of the hour for banks and financial institutions across the world.
Financial institutions face multiple challenges in mitigating their inherent and potential risk issues. The seminar provided an insight on the different aspects of risk management affecting financial institutions including banks and insurance companies.
Several risk management subject experts shared their views and industry best practices. The seminar was well attended by senior bankers, risk managers and risk analysts from various prominent banks and financial institutions.
The speaker panel included the globally recognised risk management consultant, Ranil Perera – Director, Regulation & Risk Ltd., UK; Tilak J. Pathirage, AGM, Seylan Bank; B. Venkatesh, Head, Risk Management & Banking Practice, Dion Global Solutions; and Anoop Singh Sengar, Regional Director, Dion Global Solutions.
The speakers shared their views on the need and urgency in implementing strong risk management principles within financial institutions in keeping with regulatory requirements and particularly Basel II compliance. Ranil Perera gave a glimpse of the origin and journey of Basel principles and shared his views on the recent US and Euro Zone crisis. He further added that failure to implement Basel II guidelines was the main attribute to the recent crisis in the US.
Tilak Pathirage highlighted the current risk management scenario in banks in Sri Lanka. He also recapitulated the Basel II principles and stressed upon the need and importance of full-fledged risk framework supported by suitable risk IT applications for banks within the country to enable sound corporate governance.
Anoop Singh gave a brief corporate presentation on Dion Global Solution and their offerings in the risk management domain and also highlighted Dion’s alliance with BC Computers to support and offer their solutions in Sri Lanka while Venkatesh shared his views on key success factors to be considered in implementing an operational risk management application using their award-winning risk management product – aCCelerate.