December 26, 2017

Tata Power wins top awards at risks related leadership summit

Parshuram Date from Tata Power receiving CRO of the Year 2017 award in the power sector

National: Tata Power, India's largest integrated power company, has been constantly working towards creating a robust regulatory compliant business by putting in place a highly efficient risk management team. In recognition of this commitment, Tata Power bagged two prestigious awards at the recently concluded CRO Leadership Summit and Awards conducted by UBS Transformance at the JW Marriott Hotel in Mumbai. Tata Power won the Risk Management Team of the Year 2017, while Parshuram Date from Tata Power was awarded CRO of the Year 2017 in the power sector.

The chief risk officer (CRO) or chief risk management officer of a firm or corporation is accountable for enabling the efficient and effective governance of significant risks, and related opportunities, to a business and its various segments. This includes strategic, reputational, operational, financial, or compliance-related issues. The CRO Leadership Summit and Awards brought together top CROs who shared their knowledge on this critical subject. The summit showcased proactive, productive, and innovative approaches to risk management frameworks, functions and process.

The team from Tata Power being awarded the Risk Management Team of the Year 2017

Commenting on this achievement, Anil Sardana, managing director and CEO, Tata Power, said, “Tata Power is deeply committed to creating stakeholder value by driving innovations across processes including managing risks. Regulatory compliance and risk management have become increasingly important for organisations across sectors and we are very happy that our efforts in this aspect have been awarded by CRO Leadership Summit and Awards. We will continue to work towards by building our capabilities on risk management, business continuity and disaster mitigation.”

The summit also witnessed CROs discuss futuristic risk management topics like the future role of CROs, future of risk and its impact on CRO, where do company and CRO goes wrong in implementing ERM, and big data and risk management: measure, monitor, benchmark amongst others.