Heritage Bank Plc has entered into strategic partnership
with Risk Management Association of Nigeria (RIMAN) to promote global best
practices in the implementation of risk management for safer and stronger
financial institution.
President of RIMAN, Mr Jude Monye, disclosed this at the
first Chief Risk Officer’s time-out/dinner organised by RIMAN, yesterday.
Whilst speaking with journalists at the event, Monye noted
that effective risk management implementation requires the combined efforts of
institutions to tailor and implement key risk management methods and practices
in the economy.
He, however, explained that Heritage Bank chose to support
the first Chief Risk Officer’s time-out/dinner because the bank believes in
best practices in every aspect of corporate organisation.
According to him, Heritage Bank believes that the process of
economic development will remain an illusion without appropriate attention
given to risk management and best practices in all spheres of life. Based on
this, Monye commended the risk managers present at event for their commitment
to best practices in their respective sectors.
He however advised the new and young members of the
professional body to always ensure they do not jettison standards in their respective
offices. His words: “Whilst thanking you for the kind honour that you have done
us by honouring our invitation tonight, I ask you to join us as we expand the
frontiers of our activities to instil global best practice in risk management
to you. We seek your support and input as we take RIMAN to the next level and
by so doing, add value to you and to your organizational ideals, activities and
operations.”
Monye said over the years, RIMAN has accomplished much,
ranging from advocacy, capacity building to professional risk management
certification – CRM.
In his Goodwill Address at the forum, the President,
Chartered Institute of Bankers of Nigeria (CIBN), Professor Olusegun Ajibola,
commended the risk managers for taking the initiative to organise the event,
which he said would be used by members to share ideas on how to grow the
profession.
Ajibola asserted that risk management is very important to
growing any organisation and even aggregate economy; adding that failure to
attach importance to it would do the entity more harm than benefit.
He said the Nigerian economy got to the present stage
because people failed to acknowledge the importance of risk management to the
private and public sectors. According to him, as long as we fail to accord due
importance to risk management, the nation stands to face the consequences.
The CIBN boss therefore advised the risk managers in the
country not to play with their integrity for them to succeed in their vanguard
of risk management in the country. Again, he charged the board of each
corporate organisation to be actively involved in the campaign for risk
management in the country. With them taking the lead, Ajibola assured that
crusade would go a long way.
On why risk managers need to do more in Nigeria, the Chairman
of Citibank Nigeria, ‘Yemi Cardoso, noted that Nigeria’s economy is currently
experiencing difficulties because risk management was not placed at its right
place. “If the risk managers do not get it right, the value of every
restructuring effort made would be destroyed”, he stated.
Cardoso declared that money is kept in trust with banks;
thus banks have a critical role to play if the nation’s economy would grow.
RIMAN is the foremost, non-profit professional Association
of risk management professionals in Nigeria founded in 2000 in response to the
gaps that existed in risk management capacity resulting in the banking crisis
at the time.
Over time, the focus of RIMAN had shifted from just
financial risk to the fact that risks exist in virtually all human endeavours
and across all sectors. RIMAN at inception began with institutional membership
and as at 2003, individual membership categories were added.
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