ERM Program Viewed as a Business Enabler, Driving Growth and Strategic Decision-Making
Honorable Mention for Innovation Awarded to HDFC Life Insurance
NEW YORK (December 7, 2020) – RIMS presented Infosys (NYSE: INFY), a global leader in next-generation digital services and consulting, with the 2020 India Enterprise Risk Management Award of Distinction at the Society’s virtual Risk Forum India 2020. Submitted by the organization’s Executive Vice President – Group Head – Corporate Strategy and Chief Risk Officer Deepak Padaki, the honor recognizes the team’s outstanding success in improving transformation outcomes, growing revenue, protecting margins and strategic decision-making.
Infosys empowers organizations to transform digitally and leverage technology to enhance products and services. The organization’s ERM program is positioned as a business enabler that also successfully elevates critical risks to Board level. It has been instrumental in strengthening several strategic programs such as the localization of workforce practices in the U.S., global recruitment initiatives, new strategic partnerships and operations.
Additionally, the organization’s reaction to the COVID-19 crisis exemplified its ERM framework that ensured complete resilience during the pandemic disruption, seamless transition of 99 percent employees to remote working and uninterrupted service to customers. During this period, Infosys has been able to provide revenue growth guidance to the market when most other companies have withdrawn.
“We operate in a fast-evolving world, where we and our stakeholders find ourselves in the midst of disruption,” said U B Pravin, Member of Board & Chief Operating Officer, Infosys Limited. “Success in times like these require us to take calculated risks so we can move forward in a differentiated and progressive manner. Our enterprise risk management program has evolved to become a strong framework to manage potential threats to our objectives in a proactive manner, and enhance our performance.”
Honorable mention for this year’s RIMS India ERM Award of Distinction was presented to HDFC Life Insurance. HDFC’s ERM program continues to reshape strategy in the advance of disruptive changes while positioning the risk management team as a valued partner to the organization’s business units.
“ERM continues to be an invaluable asset that enables risk professionals to deliver a more transparent and holistic view of the organizations risk profile,” said RIMS President Laura Langone. “ERM’s advantages are far-reaching and directly impact processes, governance and, most importantly, the organization’s strategic direction. I want to congratulate Infosys and HDFC Life on their remarkable ERM success and thank them for sharing their experiences with the RIMS community.”
Judging criteria for the India ERM Award of Distinction includes measurable, tangible and sustainable results; unique program strengths; ERM innovation that links risk with strategy or performance; and the program’s ability to build sustaining risk management capabilities. The panel comprises members of RIMS Strategic and Enterprise Risk Management Council.
To access Society’s vault of thought-leading enterprise risk management content, resources and research, visit RIMS Strategic and Enterprise Risk Center.