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Risk Management Association of India

RMAI RISK INSIGHTS
Actionable Risk Intelligence for Professionals
Vol 01 · Issue 04 May 2026
01 From the Editor's Desk The May Editorial
Editorial · Risk Culture

Risk Culture: The Invisible Control Framework

By Dr. Rakesh Agarwal

While organisations invest heavily in formal risk controls — policies, limits, dashboards and audit trails — the most consequential layer of risk defence is often invisible: the shared values, assumptions and behaviours that shape how people respond to uncertainty every day. This editorial examines why risk culture, not process alone, is the decisive factor in preventing failures, and what leaders must do to make it a lived reality.

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02 Executive Column A View from the Top
Featured Voice · Strategic Risk Thinking

Reflection from The Risk Management Lens

By Dr. Abhijit K. Chattoraj · Vice President, RMA India

A seasoned practitioner's perspective on how risk management is evolving from a compliance-driven function into a strategic lens through which organisations interpret uncertainty, opportunity, and long-term value creation — integrating governance, technology and organisational resilience into a coherent whole.

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03 Featured Articles Four Reads · May 2026
Lead Feature · Career Development

Risk Management Career Guide

A comprehensive practitioner's guide to building a career in risk management — from entry-level pathways and key certifications to senior leadership roles. Covers domain specialisations across credit, operational, cyber and enterprise risk, with actionable advice on skill-building, networking and staying ahead of regulatory change.

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02 · NBFC Governance

Risk and Governance in NBFCs

An in-depth look at the governance structures and risk frameworks that Non-Banking Financial Companies must build to meet regulatory expectations and sustain resilient growth.

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03 · Governance Failures

Top Governance Failures in NBFCs and What They Teach Us

A candid examination of high-profile NBFC governance breakdowns — the warning signs, regulatory responses, and lessons every risk professional must internalise.

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04 · Cyber & AI Risk · SEBI

SEBI Cyber-Suraksha AI Task Force 2026: Combating AI-Driven Threats

A detailed analysis of SEBI's newly constituted Cyber-Suraksha AI Task Force — its mandate, the AI-driven threat landscape it addresses, and governance implications for market participants and listed entities in 2026.

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04 Risk Management Update The Month, Decoded
Banking & Insurance

Government Urges Tighter Spending Controls for Banks and Insurers

Regulators signal stricter oversight of operational expenditure in financial institutions as part of a push to strengthen governance and systemic stability.

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Disaster Risk

Disaster Risk Reduction Gains Importance in Flood-Prone Regions

Mounting climate-related losses are accelerating adoption of structured disaster risk reduction frameworks in India's most vulnerable geographies.

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Sustainability Risk

BaFin Identifies Gaps in Banks' Sustainability Risk Management

Germany's financial regulator finds material shortfalls in how banks identify, measure and report ESG-related risks under evolving European frameworks.

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Corporate Risk

SEDemac Mechatronics Highlights Key Business Risk Concerns

The engineering firm's leadership outlines how supply-chain concentration, technology obsolescence and currency volatility have risen to the top of its enterprise risk agenda.

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AI & Sovereignty

India Strengthens Focus on Sovereign AI Security Systems

Policy developments signal India's intent to build domestically controlled AI infrastructure — reducing strategic dependence and mitigating data-sovereignty risk.

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Health Risk

Preventive Health Assessment Gains Importance in Risk Identification

Corporates and insurers are integrating preventive health data into risk identification frameworks, reducing long-tail liabilities and improving workforce resilience.

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Quick Updates · Around the Risk World
Six short reads making news this month
Crypto Risk
XT Exchange Launches Futures Insurance for Crypto Traders
Integrated Risk
Crisis24 Expands Access to Integrated Risk Management Platform
Market Risk
Discount Broker Prioritises Risk Management by Design
Fiscal Policy
India Reassesses Fiscal & Industrial Policies Amid Global Uncertainties
AI Lending
Human Oversight Remains Crucial in AI-Driven Lending
ESG & Reporting
Canara Bank Aligns Sustainability Reporting with CSRD Standards
05 Case Studies Lessons from the Field
Sovereign Risk

Fiscal Risk Management in ASEAN+3 Economies

A comparative look at how ASEAN+3 nations are building fiscal buffers and contingency frameworks to manage sovereign risk in an era of geopolitical volatility.

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Credit Risk

NPA Management and Stressed Asset Governance: A Banking Case Study

An end-to-end examination of how Indian banks are restructuring stressed-asset governance — from early-warning systems through to resolution and recovery.

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Internal Controls

Branch Operations & Internal Control Management in Banking

A practical case study on strengthening control discipline across branch networks — covering audit findings, remediation design and cultural change in banking operations.

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Operational Risk

Operational Risk in Digital Banking Platforms

How leading digital banks identify, measure and mitigate operational risks unique to platform-based financial services — from API failures to real-time fraud.

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06 Research Reports & Surveys Global Readings · May 2026
Banking Risk · Global Risk Institute

Market Perceptions of Bank Risks: Canada, UK & US Compared

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Financial Fragmentation · WEF

Deepening Divides: The Cost of a More Fragmented Financial System

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Wealth Management · BCG

2026 Global Wealth Report: Growth in an Era of Reordering

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Sustainable Development · UNECE

Sustainable Development in the UNECE Region: Trends & Actions in 2026

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Advance your career with industry-focused certifications, taught by senior practitioners

Banking · Fraud

Fraud Risk Management in Banking

Detect, prevent and investigate fraud across the banking value chain — from frontline red flags to enterprise-wide controls.

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BFSI · Distribution

Bancassurance — Models, Sales & Compliance

Distribution models, sales architecture, regulatory expectations and conduct risks across bancassurance channels.

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AI Governance · NIST

Responsible AI Risk Management using NIST

Operationalise the NIST AI RMF — governance, risk identification, measurement and continuous improvement for AI systems.

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RegTech · Compliance

RegTech: The Future of Automated Compliance

From rule-based monitoring to AI-driven supervision — how RegTech is reshaping the compliance function for regulated firms.

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