Introduction India has made significant strides in various fields, but one area that continues to challenge its progress is gender-based violence, particularly rape. Despite numerous legal reforms and awareness campaigns, the issue persists, reflecting deep-rooted societal attitudes and systemic shortcomings. To combat this, the Government of India could launch a comprehensive campaign titled “Har Ghar Suraksha” (Every Home is Safe). This campaign would aim to address the issue of rape through a multi-pronged approach, involving awareness, education, legal reforms, community engagement, and th ..read more

The United States Secret Service (USSS) is one of the most well-known federal law enforcement agencies, primarily recognized for its role in protecting the President of the United States. However, its functions extend far beyond this. The Secret Service operates as a sophisticated risk and crisis management entity, ensuring the safety and security of the nation’s top officials. This article explores the operational mechanisms of the Secret Service, draws parallels with corporate risk management, and highlights the role of the Director of the Secret Service as akin to a Chief Risk Officer (CRO ..read more

Blur, one of Britain’s most iconic alternative rock bands, has not only made waves in the music industry with their distinct sound and enduring hits but also provided invaluable lessons in risk management for other music groups. Their journey highlights the importance of managing stakeholders, fostering partnerships within the team, leveraging technology, protecting intellectual property, and navigating competition. Here’s an in-depth look at how Blur has successfully bounced back and what other music groups can learn from their experience.  Managing Stakeholders  For any music grou ..read more

Introduction In today’s dynamic financial landscape, Indian banks and Non-Banking Financial Companies (NBFCs) face increasing risks of fraud. These frauds can lead to significant financial losses, reputational damage, and operational disruptions. To mitigate these risks, developing a comprehensive Fraud Risk Management (FRM) policy is crucial. This article outlines the essential components of an effective FRM policy, drawing on best practices from leading financial institutions globally. Understanding Fraud Risk Management Fraud Risk Management involves the identification, assessment, mitigat ..read more

In the rapidly evolving business landscape, companies are facing a plethora of risks that can impact their operations, reputation, financial stability and also market share. Effective Enterprise Risk Management (ERM) is crucial for these companies to navigate uncertainties and maintain a competitive edge. While a lot is being discussed about AI risks and opportunities, there are few companies that are revolutionising the ERM landscape with AI, using sophisticated tools and techniques to identify, assess, mitigate, and monitor risks more efficiently. This case study explores how a fast-moving ..read more

Investing in initial public offerings (IPOs) in India often involves decisions based on gut feelings, blind faith in promoters, or sector biases. While these instincts can sometimes lead to profits, they frequently overlook a crucial aspect of prudent investing: the risk factors disclosed in the Draft Red Herring Prospectus (DRHP). Ignoring these risk factors can result in substantial financial losses and erode investor confidence in the market. This article explores why these risk factors deserve more attention from investors, illustrating the importance of making informed decisions. We also ..read more

Imperatives With increasing complexity in the global business environment, Third-party risk management has become a subject of ever-increasing importance across an array of business stakeholders. Some of the imperatives are. Business models have adopted more reliance on external parties specifically for all non-core activities The new age business models are increasingly shifting towards collaborations, a network of business partners, aggregation, multi nodal distribution, inter-connected supply chain, cross-sectoral activities, and technology driven enablement, which is making Third party a ..read more

Risk Views with Michele Wucker, Chief Executive Officer, Gray Rhino & Company (Chicago) and Board Member of  IRM India Affiliate Hersh: Your concept of “gray rhinos” has provided a compelling framework for understanding and acting on obvious yet overlooked risks. In your experience, what are some of the most common “gray rhinos” that businesses face today, and what strategies have you found most effective in helping organizations develop a proactive stance towards these risks? Michele: Businesses face so many obvious, probable gray rhino risks –but only some of them respond effe ..read more

In the modern business landscape, managing risk effectively is not just a strategic necessity but a fundamental operational imperative. Organizations face a wide array of risks—operational, strategic, financial, and compliance-related—that can have significant implications for their performance and sustainability. The ability to anticipate, understand, and mitigate these risks hinges on a crucial, yet often overlooked, factor: the risk culture within the organization. Risk culture refers to the values, beliefs, and behaviors that determine how an organization and its employees perceive, under ..read more

The PRIDE movement, originally born out of the struggle for LGBTQ+ rights, has evolved into a powerful force for promoting diversity, equality, and inclusion (DEI). Beyond its cultural and social impact, PRIDE has increasingly become a strategic component in risk mitigation for organizations and communities. This evolution highlights how the principles and activism of the PRIDE movement contribute to reducing risks related to discrimination, inequality, and exclusion. The Origins of PRIDE: From Protest to Celebration The PRIDE movement traces its roots to the Stonewall riots in 1969, a pivot ..read more