1. Effective Risk Management for BPO Industry
Riskpro, India
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2. Who is Riskpro… Why us?
ABOUT US MISSION
 Riskpro is an organisation of member firms
around India devoted to client service  Provide integrated risk management
excellence. Member firms offer wide range consulting services to mid-large sized
of services in the field of risk management. corporate /financial institutions in India
 Currently it has offices in three major cities  Be the preferred service provider for
Mumbai, Delhi and Bangalore and alliances complete Governance, Risk and Compliance
in other cities. (GRC) solutions.
 Managed by experienced professionals with
experiences spanning various industries.
VALUE PROPOSITION DIFFERENTIATORS
 You get quality advisory, normally delivered
by large consulting firms, at fee levels  Risk Management is our main focus
charged by independent & small firms
 Over 200 years of cumulative experience
 High quality deliverables
 Hybrid Delivery model
 Multi-skilled & multi-disciplined organisation.
 Ability to take on large and complex projects
 Timely completion of any task due to delivery capabilities
 Affordable alternative to large firms  We Hold hands, not shake hands.
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3. Critical Issues / Risk Gaps facing BPO Industry
Issues Possible Solution
Competition
• Review of business risk strategies and developing risk
Competition from global players indicators to review the threats from competition
both on pricing and quality of
services
• Review of IT governance and control framework to ensure that
Data Confidentiality data confidentiality is maintained.
Loss of customer data, breach • Mapping of confidential customer data through the process to
identify areas where the fraud / breach could take place.
of data confidentiality clauses
• ‘Clean-Desk’ policies – no paper, no pens on workstations
Regulatory Compliance • Design of regulatory checklist for major processes and then
Non compliance with regulations mapping this to Team leaders responsible for compliance
may result in significant • Developing regulatory compliance tracking systems that
penalties, both for company and ensures timely escalation and resolution
overseas client
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4. Critical Issues / Risk Gaps facing BPO Industry
Issues Possible Solution
Product Concentration
• Review of product concentration risk and recommend solutions
Most of the BPO firms have for diversification in terms of geographies or implement suitable
concentration in either one or strategies to mitigate the impact of product concentration
two product types of one or two
geographies
FX Risk • Review of IT governance and control framework to ensure that
data confidentiality is maintained.
Large fluctuations in FX rates • Mapping of confidential customer data through the process to
impacts directly the profitability identify areas where the fraud / breach could take place.
of the organisation
Client Audit / Contract • Designing a process to effectively manage and monitor
contract and client audit requirements
Non compliance with client audit • Implement a process to accept standard and executable
/ contractual requirements may clauses in the contract.
result in termination of • Review of Reporting requirements such that commitment is
agreement made only for achievable reporting
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5. Critical Issues / Risk Gaps facing BPO Industry
Issues Possible Solution
Rapid Startups
• Review of current processes and control framework for key
BPO firms set off expanding activities. Helping management to enhance control framework
rapidly resulting in processes / and implement documented policies and processes for critical,
control framework lagging risk prone areas.
behind
Poor Infrastructure
Inadequate BCP /DR setups can • Poor infrastructure and inadequate BCP /DR setups can
impact the continuous impact the continuous operations of the firm
operations of the firm
High Attrition
• Review of recruitment policies and framework
Significantly increases • Implementing compliance certification process to ensure
inefficiencies, internal frauds, compliance with set policies
data thefts and poor customer • Risk Awareness and training to Staff
service
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6. Critical Issues / Risk Gaps facing BPO Industry
Issues Possible Solution
Lack of Training • Evaluation of training requirements for critical process from a
Inadequate training budgets risk perspective to determine adequate levels of training
result in significant inefficiencies, • Implement a monitoring process to determine deviations from
frequent process breaks and training calendar and escalation mechanism
potential frauds / loss events
People Risk • Evaluation of HR policies for adequacy of HR framework
• Implement effective whistle blower policy for reporting issues
Large number of staff results in relating to Sexual harassment, frauds, data breach etc
people related risk such as • Designing an incident management system to effectively record
reputation risk, negative remarks and monitor staff related issues
Inaccurate Reporting
Wrong reporting, data • Review of controls around the data processes, reconciliations,
processing may result in client exception reports and escalations to ensure that data is
incorrect data processing by processed correctly
client
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7. Critical Issues / Risk Gaps facing BPO Industry
Issues Possible Solution
Security Audits • Assistance with annual security audits of the critical
Absence of security audits on a applications and processes
periodic basis
Poor incident Management
Any security incident, or • Design a incident management framework to effectively
operational loss event, incident manage security breaches, handle process failures and
is not effectively and timely operational losses
managed
Physical security of
Technology
• Develop policy to restrict access to certain areas and data
Inadequate security around centers.
physical data centers and
application servers
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8. Risk Management Advisory Services
Basel II/III Advisory Corporate Risks Information Security
 Market Risk  Enterprise Risk Assessment  IS Audit
 Credit Risk  Fraud Risk  Information Security
 Operational Risk  Risk based Internal Audit  IT Assurance
 ICAAP  Operations Risk  IT Governance
 Forensic services
SERVICES
Operational Risk Governance Other Risks
 Process reviews  Corporate Governance  Business/Strategic Risk
 Policy/ Process Review  Business Strategic risk  Reputation Risk
 Process Improvement  Fraud Risk  Outsourcing Risk
 Compliance Risk  Forensic Accounting  Contractual Risk
Training Recruitment
 Banking – E Learning  Virtual Risk Managers
 Corporate Training  Full Time Risk Professionals
 Regular Risk Management Training  Part time Risk Professionals
 Online Training material
 Risk Managers on call – free
 Workshops / Events
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9. Team Experiences Our Experiences
OUR CLIENTS
TEAM EXPERIENCES
Any trademarks or logos used throughout this presentation are the property of their
respective owners
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10. Contacts
MUMBAI DELHI BANGALORE
Manoj Jain, Director Rahul Bhan, Director Casper Abraham, Director
B-44 Glaxo Building, Near C-561, Defence Colony, No. 62/B Modi Residency
Mt. Mary’s Steps, Bandra New Delhi-110 024 Millers Road, Benson Town
(W), Mumbai 400050 Bangalore 560 046
M- 98337 67114 M- 99680 05042 M- 98450 61870
E- manoj.jain@riskpro.in E- rahul.bhan@riskpro.in E- casper.abraham@riskpro.in
Email : info@riskpro.in
Web: www.riskpro.in
THANKS
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