‘Digitise banks’ liquidity risks to protect assets’

The Risk Management Association of Nigeria (RIMAN) has urged practitioners to adopt digital means to instantly assess banks’ liquidity and other emerging risks to protect banks assets.

This was a consensus by speakers at a webinar organized by RIMAN in partnership with Aptivaa, an international financial services and risk management consulting firm.

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The Executive Director/Chief Risk Officer Ecobank Nigeria, Mr Biyi Olagbami, urged the members to adopt a quicker response by embracing digital means to risk analysis in banks assets and liquidity.

He also canvassed moving from statutory risks management to dynamic risks management.

“What that means is that more than ever before, scenario analysis must be at the centre of what we do.”

The Director Aptivaa, Mr Satya Vemireddy, said: “The COVID-19 crisis has definitely brought a paradigm shift in terms of our work culture and how companies operate and in terms of how the global economies are operating.

“We think that post-COVID, regulators across regions would look to a more dynamic approach towards managing and measuring risks within the banking system.”