New Delhi [India], June 16 (ANI/NewsVoir): As the highly infectious COVID-19 hits workers hard, corporates need to put people's risk management on the front burner during the pandemic.
Talent management has become critical for leadership to mitigate the risks from redundancies and loss of opportunities.
Emphasizing the need to strengthen workers' health and wellbeing, Professional Risk Managers' International Association (PRMIA) organized a webinar where a galaxy of thought leaders and industry experts from diversified sectors. The seminar dwells on the insights, perspectives, best practices and knowledge around the current healthcare crisis from a risk management standpoint.
In attendance were leaders from the financial sector: mainly comprising C Suite Executives and Senior Risk Professionals from Banks, Asset Management Companies, Non-Banking Finance Companies, Fintech, Insurance Companies and Regulators as well as students from various business schools.
Prashant Kumar - MD and CEO of Yes Bank, the inspiring banker who turned around the bank last year, delivered the keynote address at the PRMIA event. He advocated long-term investment in talent management, emphasizing that empowered employees are the backbone of any company.
"Employees' health and resilience must be celebrated and supported. Companies are now challenged to be agile to adapt to the new normal. Exposure to COVID-19 at the workplace is clear and ever-present. The perception of risk is the trigger for insecurity among employees," Kumar said.
G N Bajpai, the former Chairman of SEBI and LIC, highlighted the urgent need to re-arm the global health order to timely identify, assess, mitigate and control the current pandemic as well as prevent the occurrence of such black swan-like events in the future.
On this occasion, a panel discussion was conducted with a cross-section of industry experts and moderated by Dr. Pankaj Sinha, Professor in Finance at Faculty of Management Studies, New Delhi.
Dr Tirthankar Patnaik, Chief Economist at National Stock Exchange (NSE), emphasized the investment perspective of employees' health and wellbeing. Despite the pandemic's recessionary economic scenario, it is crucial to invest in the workforce.
"Corporate balance sheets are in their best shape in the last ten years. Leverage is low, operational expenditure has prevailed over the capital, and this puts companies in the right position to invest and hire in the recovery," Dr Patnaik added.
PRMIA, which offers a range of competency-focused training and certification courses on risk management, is respected globally and has seen keen interest from students and professionals. RBI, Government of India, State Bank of India, other leading banks and corporates have adopted PRMIA as a part of capacity building and strategy for employees' learning and development.
Pankaj, Regional Director of PRMIA (New Delhi), welcomed all the guests and thanked volunteers for the excellent work. He also thanked participants for their overwhelming interest and assured them to organize such events at regular intervals. Arshi Siddiqui, Steering Committee member, extended a vote of thanks.
The Professional Risk Managers' International Association (PRMIA) is a well-recognized, non-profit, highly respected, global association owned and managed by Risk Professionals, dedicated to defining and promoting best practices in Risk Management. It has 51 chapters in major cities worldwide. Established in 2002, PRMIA offers a range of competency-focused training and certification courses to become an effective risk professional.
PRMIA is especially recognized for walking the members throughout their professional career, connecting to learning and development, cost-effective training, professional certifications, global networking, and online resources that reinforce the skills and knowledge to cope with the banking's emerging challenges and financial sector.
For information on PRMIA, please visit the website www.prmia.org.
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