PMFN
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Transcript of PMFN
ROUND TABLE CONFERENCE ON RISK MANAGEMENT IN MFIs
Dated: 26-03-2011Crown Plaza Hotel upper Mall Lahore
Participant from NIMF:
1. Amer yousaf 2. Muhammad Waqas Afzal
Participant of other Organization:
1. Qazi Shohib Baber CEO Jinnah Welfare society (JWS) A+ Microfinance Organization.
2. Ifran Khokhar Executive director of FFO Microfinance organization3. Muhammad Murtaza CEO RCDS Multi sectoral Organization 4. Asma Rehmat Punjab Microfinance Network Coordinator5. Finance Manager, Management executive of Baidari Organization6. Representatives of Agahe7. Ramesh Singh Arora CEO of Mojaz foundation & Master Trainer.8. Finance Manager, PM of NRDP 9. Representatives of CGAP 10.Representatives of OPD
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Agenda;
Address by Qazi Shohib Babar CEO of JWS on Risk management institutional perspective and current crises of MFIs
Irfan Khokhar Executive Director of FFO will lead all themesTheme 1: Building Consensus on the Increased Need to Incorporate Risk Management
Strategies within Microfinance Providers
Theme 2: Understanding the Risk Management within Microfinance Perspective Theme 3: Transforming Organizations into institutions: A tool for Risk Management
(Members will be shared view and experience on all mentioned themes)
Theme 4: Identification of Different Tools for Risk Management
Theme 5: Strengthening Internal Controls for Risk Management
Closing remarks By Muhammad Murtaza CEO of PMFN
In this conference first of all address by CEO of JWS and told about the need of this conference and also told Objective, back ground & need of network: Global Voice Capacity building Exposure Advocacy & policy change Research, publication & Information dissemination Network Management with donors Consulting
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ALL GROWTH IN THIS UNIVERSE IS THE RESULT OF TAKING RISKS.
Risk management is the identification, assessment, and prioritization of risks.
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Institutional Risk (Mission & vision not follow)
Operational Risk (Credit risk)
Financial Risk
External Risk (Not controllable, Inflation)
Biggest Risk (Human Resources)
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To overcome these risks Organization adopt:
Good governance Quality Human resource ( Low salary people are very
dangerous , org hire low salary low qualification persons for saving the salary budget)
Value based Institutional Culture Managing the double bottom line
Different tools of risk management:
Effective governance Policies ( directions) & procedures ( how you can Implement your
policies) Systems ( MIS, FIS, HR policies , operational Systems) Implementations Strengthening of Internal Controls Implementations of Internal Audit
Characteristics of policies & Procedures
Documented, written and in written easy simple language. Availability for all Updated / compatible Reality based Right person for right job
Characteristics of Information system Accurate Timely availability Relevant ( need base) Access (according to requirement)
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Measures:
Preventive - Internal Controls
Detective & corrective ---- Internal Audit
Preventive- (Internal Control) Verification Assurance Compliance
Detective & Corrective (Internal audit)
Independent Capacity/ qualification of Internal auditor Empowerment
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