RBI overhauling approach to risk management – annual report
Initiatives include improvements to enterprise risk management, risk tolerance and modelling
The Reserve Bank of India is in the process of updating and overhauling its approach to risk management, the central bank’s 2018–19 annual report shows.
Several initiatives are under way. The enterprise risk management department has been focused on building up risk reporting, risk modelling and risk analysis, the report says. The central bank is also developing new risk-tolerance frameworks for the department of external investments and operations, and the department for financial market
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To govern well, manage ‘enterprise’ risk
Effective risk management should be governance-oriented and top-down; not operationally oriented and bottom-up, writes John Mendzela