Risk management has always been a complex function for banks and financial institutions. Today the scope of regulatory compliance and risk management has become much broader, and the potential impact of non- compliance is significantly high. The risk function at BFSI sector is evolving from being a number-crunching function to a more dynamic business enabler, focusing on risk arising from complex products, diversified operations, diverse workforce, multiple channels and regulatory compliance at regional and global levels. The intent is being on a proactive risk management and mitigation, rather than event-based response.

Therefore "Operational Risk Management" has come in to force since 2001, when it was recognized as a distinct class of risk outside credit and market risk, by Basel II. Further, compliance regulations, like Basel II and SOX, mandate a focus on operational risks, forcing financial organizations to identify, measure, evaluate, control and manage this ubiquitous risk. This has led to an increased emphasis on the importance of having a sound operational risk management (ORM) practice in place, especially when dealing with internal capital assessment and allocation process. This makes ORM one of the most complex and fastest growing risk disciplines in financial institutions. Overall 58% of banks initiated the process of identification of operational risk, however, only 36% public sector banks and 20% of financial institutions have initiated the process of ORM.

The 2^nd Annual Operational Risk Management Summit 2019 focuses on the BFSI sector to discuss the compliance, stay up-to-date on the risk & latest legal changes and technology. The summit will have keynotes sessions and discussions from leading industry stalwarts, breakout groups, continuing education, and plenty of networking opportunities.

• Emerging risk dynamics & evolving regulations
• Risk & compliance strategy and risk management in digital era
• Structuring and coordinating the three lines of defence and Vendor risk management
• Contribution of internal audit and implementing effective risk appetite and formulating RAS
• A strategic approach to strengthen your risk culture and to mitigate Anti Money Laundering and fraud for greater efficiency
• Building a sustainable multidiscipline risk program and Role of AI, Big Data, Machine Learning & DLT
• Strengthening risk management framework in NBFC's & ensuring effective BCM processes
• Future of FinTech and how risk management department is evolving