CA Sri Lanka to conduct workshop on Integrated Risk Management
In today’s increasingly complex and dynamic environment, financial institutions are exposed to numerous risks which though diverse are interdependent. The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), in its continuing effort to ensure that Sri Lankan financial institutions keep up with global standards, has organised a workshop on the implementation of an integrated risk management framework. The one day workshop titled ‘Developing and Installing an Integrated Risk Management Framework’; scheduled to be held on Tuesday, 6th March 2012, will be conducted by a top Australian risk management expert. Mr. Edmund Bosworth, Head of Risk-Reward, at Westpac Banking Corporation, Australia
All too often assessments of risks are crudely made while the consequences of getting things wrong can be very serious. This was highlighted by the recent global financial crisis which compelled financial institutions to rethink risk management practices in the industry. As organisations across the world realize that, a strong risk culture and a well articulated risk appetite increase performance in today’s competitive market, they focus more than ever on ways to implement effective risk management
Recognising the need for integrated risk management process, the Central Bank of Sri Lanka, issued a direction along with guidelines, last year, requiring all licensed banks to adopt a specific Integrated Risk Management (IRM) framework. The guidelines broadly cover the management of credit, market, operational, liquidity and interest rate risks, stress testing and disclosure requirements, based on standard market practices.
Taking into consideration the importance of integrated risk management and current developments, CA Sri Lanka has invited Mr. Edmund Bosworth, Head of Risk-Reward, of Westpac Banking Corporation, Australia, to outline how Sri Lankan organisations can address issues relating to risk management and implement an integrated risk management framework.
The one-day programme to be held at the Galadari Hotel, Colombo will cover the key concepts involved in risk management and the implementation of “the three lines of defence” template for integrated risk management , looking at management’s accountability and responsibility, the risk control function and the independent assurance function. The different types of risk and the application of these concepts to these risks will be then discussed. During his presentation, Bosworth will also give examples of the Australian banking industry’s 15 year journey towards implementing an integrated risk management framework.
Chief Operating Officers, Chief Financial Officers, internal and external auditors, compliance officers, members of audit committees and key managers involved in risk management, particularly of banks, finance, leasing and insurance companies will find this programme extremely useful.
As one of the country’s leading and largest professional organization, with 4200 members, CA Sri Lanka has continuously been in the forefront of updating the country’s financial professionals on global trends and changes on a wide variety of subjects. This risk management seminar is one such initiative to keep professionals informed of the current trends and steps that should be taken to ensure Sri Lanka’s financial institutions keep up with global changes.
Bosworth’s in-depth knowledge of risk management and many years of experience in this field will enable him to speak of the practical issues faced in implementing a risk management framework. Prior to being Head of Risk-Reward at Westpac Bank, Bosworth was the Head of Enterprise Risk Appetite and Risk-Reward, with responsibility for Basel II, the group risk-reward committee and Westpac’s relationship with APRA. He has also served Westpac as the Head of Portfolio Optimization, with responsibility for Basel II and enterprise-wide credit portfolio management.
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CA Sri Lanka Business School stays ahead with innovative courses
With an ambitious mission to provide the country’s diverse professionals the best of courses, the Business School of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) has come under rave commendation by finance and non-finance professionals for staying ahead of time and introducing professionals to two innovative executive diploma and postgraduate diploma courses.
The Executive Diploma in Financial Administration and the Postgraduate Diploma in Business Management is among the most sought after courses offered by the CA Sri Lanka Business School, which is reputed for providing the country’s ambitious professionals with high-end local and foreign programmes.
Some of the country’s top corporate personnel who have followed the two diploma courses have commended the curriculum and the Business school for introducing such courses which has helped them climb the ladder of corporate success.
Finance & Administration Manager of the Norwegian Refugee Council, Nishantha Warnasooriya stressed that because the CA Sri Lanka Business School provides students with an interdisciplinary and flexible curriculum he chose to follow the course and as it also allows students the opportunity to advance from an Executive Diploma, postgraduate diploma to a MBA within a relatively short period.
“This coupled with the school’s reputation, the diverse student body with rich backgrounds, an approachable faculty and their attention to student needs has immensely helped my career as an operations management professional,” he added.
According to the Financial Controller of the Chinese Dragon Café Pvt. Ltd, K Sivanathan, the Executive Diploma in Financial Administration paved a successful academic path towards allowing him to achieve his ambition of following the MBA offered by the University of Southern Queensland.
“The Executive Diploma in Financial Administration really helped me to achieve my ambitions by offering me a competitive course structure designed for busy executives with flexible class hours. The panel of lecturers, with extensive knowledge, academic qualification and vast experience in the field really helped me achieve success,” he added.
“The Postgraduate programme has a very comprehensive syllabus covering a range of subject areas. Therefore, no matter which discipline you come from, the content helps you to understand the basic to finer details of management and finance and other support functions, which would help you in your day-to-day work environment,” said Mangalee Goonetilleke.
According to the Assistant Vice President, Head of Operations – Tea of John Keells Holdings PLC, Romesh Walpola noted that the postgraduate diploma he followed at the CA Business School enhanced his knowledge, and gave him greater strength in his field of business.
“In addition, the special prize awarded to me in respect of Business Mathematics & Statistics, and for a Comprehensive Case Study at the examination leading to the Postgraduate Diploma in Business and Financial Administration, has encouraged me to follow an MBA from the University of Southern Queensland, Australia with five subjects being exempted which is also facilitated through the Institute of Chartered Accountants of Sri Lanka,” he added.
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CA Sri Lanka to educate lecturers on updated Chartered Accountancy curriculum
In its continuing efforts to stay relevant and ahead of changing times, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) will hold an awareness programme titled ‘Dawning 2012’ for its lecturers to familiarise them on recent changes made to the Institute’s globally recognized Chartered Accountancy course curriculum.
The programme to be held on 10th February 2012 at the Institute premises will be the first of a series of similar awareness programmes and will be a platform to detail lecturers, identified as an important stakeholder of the Institute on the recent changes made to the syllabi and the challenges faced by the lecturers with the recently unveiled new Accounting and Auditing standards.
The session will also cover various topics relevant to lecturers in today’s context including on how to get students prepared for the CA Examinations, the impact on the examination testing dates and key observations from Examiner’s Comments on the recent Institute exams.
The Institute will also utilize the event to elucidate lecturers on how to increase students’ awareness with regard to the courses offered for the students and in particular the new examination eligibility criteria for students following the CA course.
The globally recognized CA Sri Lanka qualification gives students a thorough understanding in key subjects relating to both accounting and non-accounting fields covering business, finance and management areas.
The CA Sri Lanka course syllabus is continuously updated to meet the growing demand in the market and to ensure the qualification is on par with global accounting standards.
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CA Sri Lanka – INSEAD global leadership programme back due to overwhelming demand
Following two highly successful and sold out four-day Global Leadership Programmes held in June and September 2011, the third CA Sri Lanka – INSEAD global leadership programme will be held during 14th -17th March 2012.
The third intake is also aimed at high-end professionals and business leaders who will see a thought provoking outline of topics covering a wide array of areas, aimed at enhancing the leadership qualities of the country’s corporate movers and shakers.
The four-day programme to be held from 14th -17th March 2012 will be conducted by the same resource person, Dr. Thomas Mannarelli renowned Professor of Leadership from the faculty of the INSEAD Business School.
For further information or to confirm your participation, please contact the CA Sri Lanka Business School on 2352000 ext 249.
PARTICIPANTS’ FEEDBACK
“It was an extremely well organized program and I congratulate ICASL for its contribution in this regard. With regards to the program itself, and the content, it was one of the better delivered programs that I have attended. The quality of the presentation and presenter, its delivery and direction was great. All in all, I would highly recommend it to colleagues. “
Isuru Gunasekera Chief Executive Officer John Keells Logistics (Pvt) Ltd
“In my opinion it was an extremely insightful programme which provided participants with a clear understanding of the true essence of leadership, enabling them to learn and experience firsthand, a number of key facets that are required in order to become transformational leaders.”
Muhammad Husni Salieh Manager - Strategic Planning Mas Intimates (Private) Ltd
“It was an insightful, thought provoking, highly interactive and fun-filled learning experience”
Prabhash Subasinghe Managing Director Global Sea Foods (Pvt) Ltd
“It was a truly world-class program delivered conveniently and professionally by ICASL. The INSEAD faculty was excellent and the participants were of high caliber which meant that each session, classroom or breakout, had insightful ‘takeaways’.”
Shalindra Fernando General Manager Triumph International Lanka (Pvt) Ltd
“A very interesting programme. Totally different to any other management programmes I have attended in Sri Lanka.”
Mr. Indika Abeysiri Manager – finance MAS Holdings
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