A very interesting topic was discussed on 24 Jul 21 in the presence of special guest Mr. Motilal Oswal, the Group MD of Motilal Oswal Financial Services Pvt Ltd. The session was focussed upon Risk Management and Risk Communication. The underlying concept that was shared with the DTOs was that prevention is better than cure whilst planning for an objective. A well thought out plan that caters to all eventualities stands the test of time. A DTO has to be aware of the risks involved and to do so the concept of FMEA- Failure Mode Effect Analysis was shared. It emerged that problems are essentially opportunities to make the system more robust and efficient. The three aspects of FMEA i.e Occurrence, Severity and Detection were shared with the DTOs. Mr Oswal made the closing remarks and opined that the same concept was applicable across various industries including financial services.
