Risk Management Norms Up SEBI, Dedicated Officers for Mfs

 


Original Content: Business Upside India

The Securities and Exchange Board of India (SEBI) Monday announced RMF or a new risk management framework for the mutual fund market. The framework defines the risk management procedures, functions, and roles & responsibilities that the management must follow.

In a circular by SEBI, it said that at least one CXO (Chief Experience Officer) level officer who can be entrusted with the responsibility of risk management of definite functions related to MFs must be there. Also, the AMC must have a Chief Risk Officer (CRO) responsible for seeing to the overall operations related to risk management of mutual funds.

The Broad Categories of Risk Driven by AMC & Schemes

AMC-specific risks and scheme-specific risks are the two broad categories risk must be divided into. The scheme-specific risks will be again divided into credit risk, investment risk, governance risk, and liquidity risk.

The regulators of AMC have suggested as many as 8 different categories that will comprise talent risk, outsourcing risk, and operational risk to name just a few.

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