Background:
Governance and Assurance functions namely, the risk management, internal audit and compliance functions play a very crucial role in ensuring that banks, financial institutions (FIs) and NBFCs are able to identify and mitigate risks at an early stage. These functions also ensure that regulated entities (REs) operate safely, ethically and within regulatory and legal boundaries. The role of Board of Directors (BoD) for their role in effective governance is under increasing scrutiny, particularly in the event of any disruption or failure in the financial sector. REs such as banks enjoy high leverage as they can raise substantial amount of uncollateralized deposits, and perform the function of liquidity and maturity transformation. This further reinforces the need for having robust governance structures and practices that should prioritise protection of the interests of depositors. It also becomes very critical that the BoD keeps pace and be aware of the emerging trends in general and regulation in particular, have an efficient feedback mechanism and have the ability to establish a policy based governance system.
Objective:
The program seeks to enhance the awareness of the BoD of REs on the regulatory expectations on their roles and responsibilities, sensitise them on issues of current interest, provide practical aspects of Board governance and their role in various sub-committees of the Board, the emerging challenges in non-financial risks such as cyber risk & climate change risk. It will offer a platform for peer level discussion and an opportunity to listen to & interact with the regulator.
Program Highlights:
The program will deal with the following topics:
- Governance and Assurance Functions in Banks, FIs and NBFCs – Role and Responsibilities of the Board
- Governance Challenges in use of Advanced Technologies
- KYC / AML – Regulatory Perspective
- Behavioural Dynamics in Board functioning
- IT Security and Resilience – Mitigating challenges
- Emerging Risks in the Horizon including risks arising out of climate change risks