Reliance Jio partners up with IRM to enhance ERM & risk intelligence awareness
- ByStartupStory | May 8, 2023
On Monday, Reliance Jio announced a knowledge partnership with the Institute of Risk Management (IRM), India Affiliate, to enhance the resilience of Enterprise Risk Management (ERM) within the telecommunications sector.
Reliance Jio has partnered with IRM India Affiliate to enhance Enterprise Risk Management (ERM) in the telecom industry. The partnership will involve organizing webinars, roundtables, industry meetings, and thought leadership articles to improve ERM and risk intelligence for the sector, according to a media statement. Sachin Mutha, head of risk management at Reliance Jio, expressed excitement at driving global thought leadership with IRM, saying “Our risk management process and practices are on par with international standards.”
IRM is a global professional organization offering ERM qualifications across 140+ countries. Jio is the telecom subsidiary of Reliance Industries and operates under Jio Platforms.
Rajneesh Jain, CFO of Reliance Jio, said, “We’ve already developed a robust risk culture that fosters risk-based decision-making across all functions in the organisation.” Jio noted that according to a recent study by KPMG, the landscape of risks in the telecoms industry has expanded significantly, making risk management increasingly challenging and resource-intensive for telecoms.
Hersh Shah, the CEO of IRM India Affiliate, said, “Sharing of best enterprise risk practices across platforms will drive the importance of a robust risk culture in the sector, making this knowledge partnership a milestone for telecoms.” According to Jio, a recent study by KPMG identified investment, employees, supply chain, regulatory, and cyber risks as key risk areas for the telecoms industry.
IRM India Affiliate’s collaboration with Jio is in line with its goal of creating a network of risk-intelligent companies across different industries. The organisation has previously established comparable knowledge partnerships with Cipla, UltraTech, IHCL, NIMSME (Ministry of MSME), AICTE (Ministry of Education), and other entities.
Recently, IRM India Affiliate has added external Board Advisors from prominent international organizations such as the International Organisation for Standardisation (ISO) and the Committee of Sponsoring Organizations of the Treadway Commission (COSO), as a part of their efforts to expand and strengthen their network.
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