Guest Lecture with Mr. Rohit Verma

On the evening of 27^th January 2016, Mr. Rohit Verma, an alumnus of the 1997 batch, visited his alma mater to interact with the students of the current batch. Mr. Verma, currently the General Manager, IBM Resiliency Services at IBM India Pvt. Ltd., talked to the batch about Risk Management and Business Continuity Management in the corporate world, which is his field of expertise.

Sir began the session by talking about the changes in the college, and his journey as a student. He began the session by asking the students what they understood about Risk Management. Students volunteered, talking about its applications and how it affects our day-to-day life. Sir explained about Risk Management by giving a reference to Murphy’s laws. He explained that Risk Management covers all domains of a Corporate body be it Business function, Operations, IT or other support functions.

 Sir also gave plenty of examples from the corporate world bringing out how Risk Management played a key role in some organizations. He explained how Risk Management Framework has evolved over last many years, drawn from Legislations, Court decisions, Best practices and International Standards. He discussed the relationship between Risk and Strategy, Risk and Uncertainty and Time and Impact. He encouraged the students to speak what they understood by these relationships.

He explained how the varied Business risks we face today can be classified into different buckets, depending on their frequency and potential impact. He discussed how different Corporate Risks are treated and managed on day to day basis.

Sir supported the Risk Management practice with plenty of Corporate examples (e.g. how Johnson and Johnson managed customers’ complaints in one of its products and won back their trust and confidence). He emphasized on how Risk Management plays a critical role in such cases.

Sir also gave an overview of Business Continuity Management, one of the fields in Risk Management, which is gaining high visibility at the Board of Directors level today. He cleared few doubts asked by the students. He also encouraged the students to consider Business Continuity Management as a key career opportunity.

The students also found the session to be very informative and interactive, as Risk Management is a relatively new subject for the batch. The Alumni Committee would like to thank Mr. Verma, for taking time off his busy schedule and sharing his valuable insights with the batch.