|The most prestigious recognition programme for risk management in the financial services industry
The Asian Banker Risk Management Awards is a programme designed to identify emerging best practices and outstanding achievements of the best run risk management teams in financial institutions. We currently cover the Asia Pacific and the Middle East but benchmark globally all the time by tracking developments around the world. Risk management is at the heart of decision making at any financial institution and its importance has been underscored in the aftermath of multiple financial crises.
The winners are honoured during the annual awards ceremony held at The Future of Finance, Asia Pacific, the most prestigious gathering of senior bankers in the region. Future of Finance features the risk and regulation conference which is a unique forum for risk managers and regulators to share emerging trends and identify benchmarks at the implementation levels.
The Asian Banker Risk Management Awards can be classified into the following categories:
Risk Management Awards:
- Achievement in Enterprise Risk Management
- Achievement in Liquidity Risk Management
- Achievement in Credit Risk Management
- Achievement in Market Risk Management
- Achievement in Operational Risk Management
- Risk Manager of the Year Award
Risk Technology Implementation Awards:
- Compliance Risk Technology Implementation of the Year
- Internet and Mobile Security Technology Implementation of the Year
- Risk Data and Analytics Technology Implementation of the Year
- Anti-Money Laundering Technology Implementation of the Year
- Enterprise Risk Technology Implementation of the Year
- Liquidity Risk Technology Implementation of the Year
- Operational Risk Technology Implementation of the Year
- Credit Risk Technology Implementation of the Year
- Market Risk Technology Implementation of the Year
- Risk Technology Implementation of the Year
- The Risk Manager of the Year Award
The Risk Management Awards category is for achievements of risk management teams in financial institutions in internal projects or initiatives in the year under review. Submissions may be made for specific or multiple awards except for The Risk Management Award, which is an overall award chosen from submissions under all categories. The evaluation team reserves the right to re-assess the awards to be more suitable for categories other than that applied for, if deemed fit.
Submissions for the Risk Related Technology Awards must be made in conjunction with a technology vendor or consulting firm assisting in the project. Submissions may be made for specific or multiple awards (except The Risk Management Technology Award, which is an overall award chosen from submissions under all categories). The evaluation team reserves the right to reassess the awards to be more suitable for categories other than that applied for, if they so deem fit. The judges may decide to make an award under either the Risk Management Awards category or the Technology Awards category depending on the degree of involvement of a technology or consulting partner.
The Risk Manager of the Year award is a personal award and takes into consideration the candidate’s entire career and accumulated achievements that have contributed to the prestige of the risk management profession overall. No application is necessary as the assessment is made by the researchers based on industry feedback. Suggestions from the industry are always welcome.
Each award above is explained in detail on the criteria page.
Not all awards need to be given out in any one year.
Submissions may be made suggesting assessment for multiple awards. In any case, the researchers and advisors will assess each submission on its own merit and decide on the categories that the submission would or should qualify for most of all. Awards may be made for multiple categories, if deemed fit.
Please note that we do assess the baseline risk management capability of a financial institution as a pre-qualification for this award programme. All participating institutions must satisfy the researchers that they already have robust risk management people, capabilities and cultures in place and that the submissions are for recognition of specific initiatives in the year under review. This is to weed out weak institutions that may not benefit from any one specific project or initiative. Financial institutions that do not satisfy this requirement will not have their projects assessed in this annual review.
The evaluation process is rigorous and transparent, and constantly improved to incorporate the latest challenges and changes in regulation. Emerging best practices are documented and published as Research Notes in the Risk and Regulation Working Group, our repository of best practices for practitioners.
There is no fee for participation in this programme. However, winning banks must register at least five delegates or equivalent to attend the Risk and Regulation Conference at Future of Finance, Asia Pacific or the appropriate forums we organize in the Middle East or Africa. This helps us underwrite the cost of running this programme while at the same time continue providing value to the community by the sharing of emerging trends at these forums. Attendance at the prescribed forums is a pre-requisite for recognition. Banks that participate in our forums may also request for a copy of the assessment report on their individual submission.