Handling Risk

Mar 07, 2011 (LBO) – South Asian financial sector professionals should share experiences and build networks to provide support in future in handling financial risks, a central bank official told a meeting in Sri Lanka. “Highly competitive global financial markets have created unprecedented levels of volatility which in turn has highlighted importance of proper risk management,” said P D J Fernando, deputy governor of Sri Lanka’s central bank.

There was a need to have a more proactive, systematic and integrated approach to risk management in financial services,” he told an international seminar on risk in financial services.

It was held by the central bank jointly with the Chartered Institute of Securities and Investments of the UK.

The meeting would help the 43 central bank, commercial bank and finance company participants from Sri Lanka, Bhutan and Bangladesh identify, reduce and manage different types of risk arising in their day-to-day lives at work, Fernando said.

Sharing experiences was important as the experience of risk management in a central bank was different from that of a commercial bank which in turn was different from risk management in a finance company.

“Then you all will get to