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

Friday, 8 November 2019 00:00 - - {{hitsCtrl.values.hits}}

Amana Bank Chief Risk Officer Ajmal Naleer addressing the audience. Seated front row (from left): Sampath Bank Manager Credit Risk Namal Wegiriya, Nation’s Trust Bank Chief Risk Officer Chamila Sumathiratne and Public Bank Berhad Head of Risk Management Anjelo Wijeyaratnam

Seated back row (from left): MCB Bank Chief Risk Officer Geeshan Illangakoon, Sampath Bank Group Chief Risk Officer Achala Wickramaratne, DFCC Bank Chief Risk Officer Ashok Gunasekara and Sanasa Development Bank Chief Risk Officer Hemal Lokugeegana

Guest Speaker FIS Global Senior Risk Advisor Johann Mare delivering a lecture on ‘The changing ALCO Practices with evolving Regulations – an Integrated Approach’

The seventh Annual General Meeting of the Association of Banking Sector Risk Professionals of Sri Lanka (ABSRP) was held recently at the Auditorium of Sampath Bank Head Office, Colombo. A lecture on Assets and Liabilities Management Best Practices was delivered by FIS Global Senior Risk Advisor Johann Mare in conjunction with 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 Optimised 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 – Risk Management Country Officer for Citibank NA Sri Lanka noted, “The past year has been quite turbulent with the rapid LKR depreciation against the US dollar, the political impasse in Oct 2018 and the Easter Sunday attacks – all leading to a slower economic growth. It has led to a challenging environment for all sectors including the 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 seventh 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 Manager Credit Risk Namal Wegiriya and Public Bank Berhad Head of Risk Management Anjelo Wijeyaratnam were elected Secretary and Treasurer respectively. Amana Bank Chief Risk Officer Ajmal Naleer was elected as the Assistant Secretary while MCB Bank Chief Risk Officer Gishan Illangakoon was elected as Assistant Treasurer.