Financials

<h2 class="MsoNormal" style="text-align: justify;"><span style="font-family: Verdana, sans-serif; font-size: 12pt;">Q1. Could you start by giving us a brief overview of your professional background, particularly focusing on your expertise in the industry?</span></h2><p class="MsoNormal" style="text-align: justify;"><span style="font-family: 'Verdana',sans-serif;">20+ years of proven leadership experience and a strong track record in risk &amp; control with experience in implementing risk and control techniques, e.g., risk identification, control assessment, risk mitigation, and management, ideally gained via working knowledge of Operations or Operational Risk Control/Management.</span></p><p class="MsoNormal" style="text-align: justify;">&nbsp;</p><h2 class="MsoNormal" style="text-align: justify;"><span style="font-family: Verdana, sans-serif; font-size: 12pt;">Q2. What are the emerging technologies for Third-party risk management (TPRM) in banking?</span></h2><p class="MsoNormal" style="text-align: justify;"><span style="font-family: 'Verdana',sans-serif;">Some of the key emerging technologies involve Gen AI, which focuses on scalable tech-led processes for dynamic risk management, continuous AI monitoring for real-time risk identification, and using Gen AI for data insights to proactively manage risks.</span></p><p class="MsoNormal" style="text-align: justify;">&nbsp;</p><h2 class="MsoNormal" style="text-align: justify;"><span style="font-family: Verdana, sans-serif; font-size: 12pt;">Q3. Who are the leading TPRM solution providers in the banking sector?</span></h2><ul style="text-align: justify;"><li class="MsoNormal"><!-- [if !supportLists]--><span style="font-family: 'Verdana',sans-serif;">One Trust</span></li><li class="MsoNormal"><!-- [if !supportLists]--><span style="font-family: 'Verdana',sans-serif;">UpGrad</span></li><li class="MsoNormal"><!-- [if !supportLists]--><span style="font-family: 'Verdana',sans-serif;">RiskRecon</span></li><li class="MsoNormal"><!-- [if !supportLists]--><span style="font-family: 'Verdana',sans-serif;">Bitsight</span></li></ul><p style="text-align: justify;">&nbsp;</p><h2 style="text-align: justify;"><span style="font-size: 12pt;">Q4. How is the RegTech sector evolving to address TPRM needs in banking?</span></h2><ul style="text-align: justify;"><li><!-- [if !supportLists]--><span style="font-family: 'Verdana',sans-serif;">Centralized oversight &amp; governance</span></li><li><!-- [if !supportLists]--><span style="font-family: 'Verdana',sans-serif;">Adaptive contractual requirements</span></li><li><!-- [if !supportLists]--><span style="font-family: 'Verdana',sans-serif;">Ongoing monitoring</span></li><li><!-- [if !supportLists]--><span style="font-family: 'Verdana',sans-serif;">Incident Management Framework&nbsp;</span></li></ul><p class="MsoNormal" style="text-align: justify;">&nbsp;</p><h2 class="MsoNormal" style="text-align: justify;"><span style="font-family: Verdana, sans-serif; font-size: 12pt;">Q5. What risks do third-party vendors pose, and how are banks ensuring their vendors adhere to robust data protection standards?&nbsp;</span></h2><ul style="text-align: justify;"><li class="MsoNormal"><!-- [if !supportLists]--><span style="font-family: 'Verdana',sans-serif;">Cyber security</span></li><li class="MsoNormal"><!-- [if !supportLists]--><span style="font-family: 'Verdana',sans-serif;">Compliance</span></li><li class="MsoNormal"><!-- [if !supportLists]--><span style="font-family: 'Verdana',sans-serif;">Operational Risk</span></li><li class="MsoNormal"><!-- [if !supportLists]--><span style="font-family: 'Verdana',sans-serif;">Reputational Risk</span></li><li class="MsoNormal"><!-- [if !supportLists]--><span style="font-family: 'Verdana',sans-serif;">Strategic Risk</span></li><li class="MsoNormal"><span style="font-family: Symbol; mso-fareast-font-family: Symbol; mso-bidi-font-family: Symbol;"><span style="mso-list: Ignore;"><span style="font: 7.0pt 'Times New Roman';">&nbsp;</span></span></span><!--[endif]--><span style="font-family: 'Verdana',sans-serif;">Business Continuity Risk</span></li></ul><p class="MsoNormal" style="text-align: justify;">&nbsp;</p><h2 class="MsoNormal" style="text-align: justify;"><span style="font-family: Verdana, sans-serif; font-size: 12pt;">Q6. What are the main challenges banks face in integrating TPRM across their operations?&nbsp;</span></h2><ul style="text-align: justify;"><li class="MsoNormal"><!-- [if !supportLists]--><span style="font-family: 'Verdana',sans-serif;">Data security</span></li><li class="MsoNormal"><span style="font-family: Symbol; mso-fareast-font-family: Symbol; mso-bidi-font-family: Symbol;"><span style="mso-list: Ignore;"><span style="font: 7.0pt 'Times New Roman';">&nbsp;</span></span></span><!--[endif]--><span style="font-family: 'Verdana',sans-serif;">Lack of visibility</span></li><li class="MsoNormal"><!-- [if !supportLists]--><span style="font-family: 'Verdana',sans-serif;">Compliance &amp; Regulatory requirements</span></li><li class="MsoNormal"><span style="font-family: 'Verdana',sans-serif;">Legacy systems </span></li><li class="MsoNormal"><span style="font-family: 'Verdana',sans-serif;">Supply chain</span></li></ul><p class="MsoNormal" style="text-align: justify;">&nbsp;</p><h2 class="MsoNormal" style="text-align: justify;"><span style="font-family: Verdana, sans-serif; font-size: 12pt;">Q7. If you were an investor looking at companies within the Banking sector, what critical question would you pose to their senior management?</span></h2><p class="MsoNormal" style="text-align: justify;"><span style="font-family: 'Verdana',sans-serif;">Emerging competitors, most painful part of the organization and turnaround plan, Bottom line.</span></p><p class="MsoNormal" style="text-align: justify;">&nbsp;</p><p class="MsoNormal" style="text-align: justify;">&nbsp;</p><p class="MsoNormal" style="text-align: justify;">&nbsp;</p><p class="MsoNormal" style="text-align: justify;">&nbsp;</p><p class="MsoNormal" style="text-align: justify;">&nbsp;</p>