SCMHRD's "Risk Management Seminar ? An Industry Perspective", in association with Ernst & Young and sponsor MCX was held at the JW Marriott, Mumbai on November 24, 2007. Risk management is emerging as a significant issue in the fast growing monetary and capital markets. Recognizing this fact, the seminar brought together corporate stalwarts with diverse experience in the field of financial risk management who put forward different perspectives on the issue and brought to light the different tools to mitigate risks. The seminar also served as an opportunity for students, professionals and managers from various financial institutions to learn about the ever evolving risks present in their domains and ways to mitigate them.

The inaugural address was delivered by Prof. Anant Gupta, Deputy Director, SCMHRD. He spoke about the presence of inherent risk in the various business domains, the pervasive nature of risk in various businesses and how the mitigation of such risks in vulnerable times makes business sense.

The seminar saw the presence of many distinguished persons from the industry who shared their views on risk management. The first speaker was Mr Hemal Shah, Associate Director, Ernst & Young whose speech was focussed on Financial Risk Management. Mr Syed Shahbuddin, MD & CEO, SBI Funds Management Pvt Ltd discussed the concept of Integrated Risk Management and described himself as a practitioner of Risk Management. Mr. Anuj Agarwal, the CFO of SBI Life Insurance Company highlighted the fact that "Growth itself poses risk" and elucidated it by emphasizing that the life insurance industry is growing at a rate of over 70%. Stalwarts like Mr. P K Choudhury, the Vice Chairman of ICRA Limited & CEO of the ICRA Group and Mr. Dinyar Manekshaw Jivaasha, the Group Global Head & Sr. Vice President of the Transnational Essar Group?s, Corporate Risk & Insurance Management Function enthralled the crowd with their rich repertoire of knowledge sprinkled with dollops of humour. The concluding speech was conveyed by Mr. Saxena, Head- Knowledge Development, BSE clarified the issues related risk management at BSE. He echoed the importance of public trust in the stock market and highlighted the most serious risks, i.e. integrity risk, the risk of incompetence, default risk and the risk of market abuse. He further reiterated the importance of a strong regulatory framework, and quoted the famous saying: "Risk is a four-letter word, so is loss".

Vote of thanks and formal closure of the event was done by Mr. Subramanian Director, SCMHRD. He announced the closure of this year?s version of the event but marked the beginning of a tradition and established another stepping stone in SCMHRD`s quest for knowledge. Thus 26th November, 2007 marked a watershed moment for the institute as it established itself with this unique initiative.