Sampath Bank hosts 7th AGM of Association of Banking Sector Risk Professionals of Sri Lanka

Tuesday, 19 November 2019 00:00 - - {{hitsCtrl.values.hits}}

The 7th Annual General Meeting of the Association of Banking Sector Risk Professionals of Sri Lanka (ABSRP) was held recently at the auditorium of the Sampath Bank Head Office in Colombo.

A lecture on Assets and Liabilities Management Best Practices was delivered by FIS Global Senior Risk Advisor Johann Mare alongside the AGM.

In his lecture, Mare elucidated on crucial topics including Best Practice Requirements with Integration of SLFRS 9 Frameworks, Bank Balance Sheet Learning Curve, Practical Approach on the Pillars of an Effective ALCO, ALCO Learning Curve as well as its Optimized Process. Mare further shared few case studies conducted by FIS Global pertaining to ALCO practices, enlightening the audience with valuable insights and perspectives on the subject from a global platform.

Addressing the gathering, outgoing President Nandika Nawagamuwa, the Risk Management Country Officer for Citibank NA, Sri Lanka, noted: “The past year has been quite turbulent with the rapid rupee depreciation against the US dollar, the political impasse in October 2018 and the Easter Sunday attacks - all leading to slower economic growth. It has led to a challenging environment for all sectors, including banking. He further recalled organising few expert sessions for the risk fraternity engaging international resource personnel. Such sessions revolved around Digital Disruption and Technology, Media and Telco Markets Update, Integration of Key Risk Indicators for Banks Strategy, Shaping the Risk Landscape beyond 2020 focusing on harmonisation between IFRS 9 and Basel III, and Evolving Market Risk Regulations and Impact on Banks.

The 7th AGM of the ABSRP of Sri Lanka was held subsequently where new office-bearers were elected. Nation’s Trust Bank Chief Risk Officer Chamila Sumathiratne was elected President. Sampath Bank Group Chief Risk Officer Achala Wickramaratne and DFCC Bank Chief Risk Officer Ashok Goonasekere were elected Vice Presidents while Sampath Bank Credit Risk Manager Namal Wegiriya and Public Bank Berhad Risk Management Head Anjelo Wijeyaratnam were elected Secretary and Treasurer respectively. Amana Bank Chief Risk Officer Ajmal Naleer was elected Assistant Secretary while MCB Bank Chief Risk Officer Gishan Illangakoon was elected Assistant Treasurer. - Pix by Sameera Wijesinghe