Threat Managers Affiliation of Nigeria has urged banks to extend funding in danger evaluation expertise with a view to mitigate the elevated dangers that include digitisation within the banking sector.
The President of RIMAN, Mr Magnus Nnoka, mentioned this on the twentieth annual worldwide convention of the affiliation, the place stakeholders gathered to deliberate on danger administration in a digital period.
Nnoka mentioned, “The rise in digital property and channels consequently result in rising and evolving danger sorts, due to this fact, we’re seeing rising digitisation of danger.
“At the same time as organisations search rising digitisation, we will readily determine just a few of the drawbacks on this journey; these embody legacy info asset, organisational tradition, information high quality, dearth of requisite expertise and complexity of organisational construction.”
He added that within the digital period, danger administration professionals could be required to evaluate and reshape their mandate and roles, develop digitally-driven mindset and capability to supply quicker, extra forward-looking, and deeper insights in driving the brand new working surroundings.
Nnoka mentioned, “Moreover, considerations have been raised, not by just a few, that technological innovation or digitalisation particularly within the banking sector seems to be concentrated totally on customer-facing journeys reminiscent of on-line banking and advertising and marketing and the actions that help these journeys reminiscent of buyer onboarding, buyer servicing and backbone of complaints.
“It’s my submission that managing danger in a digital period ought to be supported by ample and applicable funding in digitalisation of danger administration. Digital danger transformations ought to be pursued deliberately by organisations. Will probably be more and more difficult for danger administration strategy to remain analogue whereas customer-facing actions and operations race forward into digital.”
The Managing Director, First Financial institution of Nigeria Restricted, Mr Adesola Adeduntan, in his keynote handle, mentioned danger managers ought to be effectively outfitted to raised handle rising dangers in a digital world.
Adeduntan, who was represented by the Group Government Treasury and Worldwide Banking Group of FirstBank, Mr Ini Ebong, mentioned, “Provided that digital expertise has change into an integral a part of most companies, particularly monetary providers companies, danger leaders will have to be effectively outfitted to raised handle the rising dangers within the digital period.
“Threat leaders are anticipated to supply the required help that may allow their organisations to stay resilient amidst uncertainties and the rising complexities within the working and enterprise environments.”
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