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Risk Management Association of India
RMAI RISK INSIGHTS
Actionable Risk Intelligence for Professionals
Vol 01 · Issue 04
May 2026
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Inside This Issue · Jump to Any Section
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.
Read the Full Editorial →
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.
Read the Column →
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.
Explore the Guide →
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.
Read Article →
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 |
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
Access Report →
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Financial Fragmentation · WEF
Deepening Divides: The Cost of a More Fragmented Financial System
Access Report →
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Wealth Management · BCG
2026 Global Wealth Report: Growth in an Era of Reordering
Access Report →
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Sustainable Development · UNECE
Sustainable Development in the UNECE Region: Trends & Actions in 2026
Access Report →
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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.
Read More →
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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.
Read More →
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