RBI Awarded Risk Manager of the Year 2024:
The Reserve Bank of India (RBI) has been honored with the Risk Manager of the Year Award 2024 by London-based Central Banking. This recognition highlights the RBI’s efforts in enhancing its risk culture and awareness.
“Reserve Bank of India has been selected for the Risk Manager Award by Central Banking, London, as part of Central Banking Awards 2024, for rolling out a new enterprise-wide risk management (ERM) framework across the organization,” Reserve Bank of India announced in a post on X. Executive Director Shri Manoranjan Mishra accepted the award on behalf of the RBI.
Central Banking commended the Reserve Bank of India for implementing a new ERM framework across an organization with over 12,000 employees, a challenging task given that the previous framework dated back to 2012.
Enterprise Risk Management (ERM) involves planning, organizing, directing, and controlling an organization’s activities to mitigate the impact of risks on its capital and earnings. ERM addresses financial, strategic, operational, and accidental loss risks, taking a holistic approach that involves managing risks across the entire organization and its extended networks rather than within individual business units.
