Financial Daily from THE HINDU group of publications
Friday, Jun 21, 2002
Financial Daily from THE HINDU group of publications Friday, Jun 21, 2002 |
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Money & Banking
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Private Banks KPMG to advise IndusInd on risk management Our Bureau
MUMBAI, June 20 INDUSIND Bank has appointed consultant KPMG to advise on development of a risk management system. KPMG will conduct an enterprise-wide risk management exercise to help the bank select a state-of-the-art treasury software solution. KPMG will advise the bank on developing and implementing an enterprise-wide risk management framework covering credit risk, market risk, operational risk and other systems, a press release said. This initiative will also deal with the revamping of the bank's existing asset liability management system and also transform its existing internal audit system into a risk-based audit mechanism. The risk management exercise will be done in three phases and is expected to be completed within a year. Post this exercise IndusInd Bank should be on the path to conform to Basle II guidelines for the adoption of international good practices in risk management, the release added.
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