Pakistan Regional Group

Purpose of the group

Pakistan is a developing country and as per some studies is identified as one of the Next Eleven countries having a high potential of becoming, along with the BRICS countries, among the world's largest economies in the 21st century. Moving from essentially an agrarian based economy to a services and manufacturing driven economy, there is growing awareness amongst the businesses about the importance of risk management and risk based decision making. The same has also been recognized at the regulatory level, with the Securities and Exchange Commission of Pakistan assigning the overall responsibility for governance of the company’s risk to the Board via Listed Companies Code of Corporate Governance Regulations 2017.

Acknowledging this need, our objective with regard to new regional group is to provide a platform for:

1. Existing members and aspiring members to network, share ideas and best practices;
2. Spreading awareness amongst the local businesses regarding the value that structured ERM could add to their portfolio;
3. Spreading awareness among young professionals regarding Risk Management as a career choice;
4. Students and young professionals to learn about IRM trainings, available courses and certifications;
5. Guiding the aspirants taking IRM courses and certificates.

Aims and Objectives

The key priorities of the IRM Pakistan – Regional Group would be as follows:

• To act as an expert group on ERM for local businesses and advise them on how to adopt structured ERM processes and practices within their organizations for value maximization;
• To create a platform for discussion for members, prospective memberships including Affiliate and Technical for professionals interested in the field of risk management;
• To act as a counseling forum for students/young professionals interested in advancing their career in risk management;
• To act as a bridge between IRM and local populace with regards to training and certifications offered by IRM.

The planned activities of the Group will be tailored as per the need/requirement of the members but would tentatively comprise of the following:

• Launch of IRM Pakistan, inviting existing IRM Members as well as risk professionals from different industries, local industry/business owners;
• Periodic meet-up of members to discuss, share and apprise each other of the new ideas and challenges encountered by them with regard to risk management;
• Quarterly/semi-annual workshops/lectures on topics related to ERM for members;
• Annual Risk Conference inviting guest speakers from IRM, other IRM Groups, risk professionals from different industries, local industry/business owners and academics, discussing new trends and challenges in risk management;
• Linkedin Group to be created to bring together existing and future members;
• Periodic newsletter.

 


Future events

Challenges in establishing an Enterprise Risk Management function

In recent years, the world has seen a shift in global business management techniques. As a result of ever-stringent governance requirements and improving awareness of best corporate practices, we have witnessed the emergence of formal and structured risk management processes and practices. These are being adopted across the globe, and in nearly all sectors of the economy, with organisations benefiting from improved resilience and value creation. The importance of having this structured risk management has all the more come to light in the recent pandemic.

The growing recognition of the value addition and resilience that a formal risk management function has to offer across the globe has led to business entities working towards establishing this program in their organizations.  But those organizations that have been through this process know that the establishment of ERM function is not without its own challenges. 

This webinar focuses on the "challenges in establishing an Enterprise Risk Management function" in a company. The aim is to discuss the typical issues and challenges that are generally faced by the organizations during ERM setup and the different approaches that could be taken to deal with these challenges.  It will also stress the importance of an effective change management process that goes hand in hand with the smooth rollout of an inclusive ERM program. The webinar panel will comprise risk management professionals who established an ERM function from scratch in their respective organizations. 

This webinar will be of interest to business leaders and risk professionals alike as it will help understand the former, how best to unlock the value that ERM has to offer and the latter, as to how they can better contribute in their roles while being associated with freshly established ERM program. This will also introduce the attendees to how the IRM is facilitating the businesses in fulfilling their risk management needs.

 

Speakers

Rahat Latif MIRM

Talha Masood IRMCert

Nicola Crawford CFIRM

Sean Gotora

Date:

Monday 3rd May 

Time:

12.00 - 14:00 BST (16:00 - 18:00 PKT)

Registration:

Click here to register


Past events

COVID-19: Crisis management and business continuity  

 

Date:

Thursday, 21st May 2020

Time:

12:30 - 14:00 BST (16:30 - 18:00 PST)

Location:

Webinar only

 

 

Launch of IRM Regional Group Pakistan and 1st National Risk Management Conference 

The first major activity for the group was the formal launch of IRM Pakistan followed by the first National Risk Management Conference. This was opened by the Chief Guest, President of the Islamic Republic of Pakistan, Dr. Arif-ur-Rehman Alvi, on 10th March 2020 at Serena Hotel, Islamabad.

Click here for a full summary of the event and here for the full list of speakers and panelists.

Date:

Tuesday 10 March 2020 

Time:

09:45 - 14:30

Location:

Islamabad Serena Hotel, Khayaban-e-Suhrwardy, opposite Convention Centre، G-5/1 G-5, Islamabad, Islamabad Capital Territory 44000, Pakistan

This event was sponsored by Mari Petroleum Company Limited

 

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Group Chair: Sohab Mushtaq 

Committee members: 

  • Aliza Haris
  • Muhammad Waqar Chughtai
  • Talha Masood 

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