Ranjeet Kumar Mishra: Cementing His Legacy As An Elite CRO In The Indian Corporate Realm
Ranjeet Kumar Mishra
Chief Risk Officer
"If we talk on individual basis, everyone possesses a specific opinion regarding risk management, but the real concern is to identify controllable and uncontrollable risks to deal with uncertainties"
Apart from this, Ranjeet talks more about his professional journey and how he has been able to remain consistently successful in the industry over long periods of time during an exclusive interview with CEO Insights.
Can you talk more about youreducational background and what helped you to develop into a pioneer in the industry?
Having completed my Higher Secondary from Science Stream, my father wanted me to become an Engineer. Howsoever, with all the due respect for my father, I went against his wish and chose Finance as my mainstream subject for further studies. I completed my studies at ICAI & ICWAI New Delhi, and got graduated as CA. With more than 16 years of professional experience in different segments of finance and risk management, I ardently believe that by combining our theoretical knowledge which we attain during our academic life with professional experience, we can perform much betterthan our realtime capabilities. I believe the knead of my education and experience is helping me a lot to accomplish my day-to-day functions at SATYA, along with integral focus on short term and long-term risk management goals. Keeping Risk Management as our priority from an organization's point of view, we are very clear what to do and what not
to do in our day-to-day conduct of
business. Other relevant aspects are encapsulated in policy framework which has been established for identification, measurement, monitoring and control of risk elements in our routine operations.
I believe that deep insight of the professional industry you belong to, products expertise, customer insight, challenges confronted by the sector from start to till date, and regulatory & compliance aspects, is crucial to be a successful CRO. To enlist few essential skills and strengths for a risk professional, I would like to highlight few keys essential areas deep domain expertise such as understanding of Micro Loans, Housing loan (Affordable/Formal), Fintech, Structured Finance, Digital finance, Underwriting skills to assess the thin file customers and assessing the credit needs of bare foot entrepreneurs. Along with lending and risk management, deep understanding of software and new age tech for the BFSI segment is helping me a lot to accomplish my responsibility.
As a CRO, what are the challenges you encountered during your professional journey?
My professional journey till date is going great. Because of my tenure with previous affordable housing startups, wherein we all expanded their scale, and being with the present one which is India's one of the leading RBI registered NBFC-MFIs, I now realize how challenging and difficult it is for people to have hassle free credit access across rural boundaries. My journey has progressively transformed my intellect of retail lending. Not only this, it has also made me learn the know how of serving a larger purpose with seamless provision of prudent credit deliveries to underserved section of the society abiding with the overall risk framework of the organisation. I have seldom heard that exploring new markets and products is a roadblock, but I earnestly say, 'None of those roadblocks have triumphed over or in fact impacted my vision of minimalizing risk in the sector'. Considering the present-day scenario, demonetisation and Covid-19 have posed a consistent threat for the entire BFSI space, but I am 100 percent confident that resilience & power of returning to normalcy demonstrated by all of us will make us win over this exigency too. Henceforth, I hope that huge opportunities are ahead us to induce a positive change by extending prudent credit offerings to those nestled at the bottom of the pyramid.
Risk management is about managing uncertainties that may impact our ability to achieve our goals. Can you describe how you identify, assess, and determine how to manage those uncertainties?
If we talk on individual basis, everyone possesses a specific opinion regarding risk management,
business. Other relevant aspects are encapsulated in policy framework which has been established for identification, measurement, monitoring and control of risk elements in our routine operations.
I believe that deep insight of the professional industry you belong to, products expertise, customer insight, challenges confronted by the sector from start to till date, and regulatory & compliance aspects, is crucial to be a successful CRO. To enlist few essential skills and strengths for a risk professional, I would like to highlight few keys essential areas deep domain expertise such as understanding of Micro Loans, Housing loan (Affordable/Formal), Fintech, Structured Finance, Digital finance, Underwriting skills to assess the thin file customers and assessing the credit needs of bare foot entrepreneurs. Along with lending and risk management, deep understanding of software and new age tech for the BFSI segment is helping me a lot to accomplish my responsibility.
Keeping Risk Management as our priority from an organization's point of view, we are very clear what to do and what not to do in our day-to-day conduct of business
As a CRO, what are the challenges you encountered during your professional journey?
My professional journey till date is going great. Because of my tenure with previous affordable housing startups, wherein we all expanded their scale, and being with the present one which is India's one of the leading RBI registered NBFC-MFIs, I now realize how challenging and difficult it is for people to have hassle free credit access across rural boundaries. My journey has progressively transformed my intellect of retail lending. Not only this, it has also made me learn the know how of serving a larger purpose with seamless provision of prudent credit deliveries to underserved section of the society abiding with the overall risk framework of the organisation. I have seldom heard that exploring new markets and products is a roadblock, but I earnestly say, 'None of those roadblocks have triumphed over or in fact impacted my vision of minimalizing risk in the sector'. Considering the present-day scenario, demonetisation and Covid-19 have posed a consistent threat for the entire BFSI space, but I am 100 percent confident that resilience & power of returning to normalcy demonstrated by all of us will make us win over this exigency too. Henceforth, I hope that huge opportunities are ahead us to induce a positive change by extending prudent credit offerings to those nestled at the bottom of the pyramid.
Risk management is about managing uncertainties that may impact our ability to achieve our goals. Can you describe how you identify, assess, and determine how to manage those uncertainties?
If we talk on individual basis, everyone possesses a specific opinion regarding risk management,
but the real concern is to identify controllable and uncontrollable risks to deal with uncertainties. For example, Covid-19 was an uncontrollable and unidentified risk during Q1 of FY20, but now, we already know the extremities of this pandemic in a detailed manner. Now, its classification has changed to a identified and predictable risk. To deal with such ambiguities, we must develop an enterprise wide risk framework which will not only enable us to identify, measure and take corrective & preventive steps, but will also minimise its burgeoning impact. In any business, risk management is the detailed process of identifying, measuring, monitoring, and managing potential risks to minimize the negative impact they may have on an organization. However, it is also evident that risk management is not at all risk elimination process. A calibrated and holistic approach of risk management is an inevitable aspect of any organisation for its tenacious augmentation and optimised stakeholders' value.
As a CRO of SATYA MicroCapital, how do you integrate the consideration and management of risk in the setting of strategy, achievement of goals and objectives, optimization of performance and management of major projects?
Yes, at SATYA, we always have this fundamental motif of being a long-term player with human touch and inducing real time social impact on society at large. To achieve the coveted mission of being a preferred choice for the people at bottom of pyramid in creation of their enterprise and livelihood through holistic approach, each step passes through a stringent risk framework. Starting from strategic planning to attaining the objective & key results, from analysing the performance to attaining the vision of being a catalyst for the socio-economic upliftment of five million households by the year 2025, from timely corrective intervention to project management discretion, we are utilizing analytics and forecasting in the optimum way possible
In your journey over the past, which are the milestones that bestowed you with utmost satisfaction both as an individual and a CRO? Also, what are the steps that you take to stay industry ready?
Setting-up and scaling affordable housing startups in my previous two stints was of utmost satisfaction,as those organisations were started post capacity building program run during my consulting stint at ICRA backed by DFI and regulator. Since I was keen to work for underserved barefoot entrepreneurs from myearly phase incareer, my current assignment at SATYA is quite interesting and satisfying. I keep myself abreast with industry related issues and development constantly. At present, my key focus is to transform SATYA into a cashless and paperless NBFC - MFI with digital DNA along with friction free credit delivery with lowest possible credit loss.
Ranjeet Kumar Mishra, CRO, Satya Microcapital
As the CRO of the company, Ranjeet has been able to develop and formulate innovative business policies to ensure optimal risk management for SATYA Micro Capital, which has helped the company to perform in a much more efficient and effective manner.
As a CRO of SATYA MicroCapital, how do you integrate the consideration and management of risk in the setting of strategy, achievement of goals and objectives, optimization of performance and management of major projects?
Yes, at SATYA, we always have this fundamental motif of being a long-term player with human touch and inducing real time social impact on society at large. To achieve the coveted mission of being a preferred choice for the people at bottom of pyramid in creation of their enterprise and livelihood through holistic approach, each step passes through a stringent risk framework. Starting from strategic planning to attaining the objective & key results, from analysing the performance to attaining the vision of being a catalyst for the socio-economic upliftment of five million households by the year 2025, from timely corrective intervention to project management discretion, we are utilizing analytics and forecasting in the optimum way possible
In your journey over the past, which are the milestones that bestowed you with utmost satisfaction both as an individual and a CRO? Also, what are the steps that you take to stay industry ready?
Setting-up and scaling affordable housing startups in my previous two stints was of utmost satisfaction,as those organisations were started post capacity building program run during my consulting stint at ICRA backed by DFI and regulator. Since I was keen to work for underserved barefoot entrepreneurs from myearly phase incareer, my current assignment at SATYA is quite interesting and satisfying. I keep myself abreast with industry related issues and development constantly. At present, my key focus is to transform SATYA into a cashless and paperless NBFC - MFI with digital DNA along with friction free credit delivery with lowest possible credit loss.
Ranjeet Kumar Mishra, CRO, Satya Microcapital
As the CRO of the company, Ranjeet has been able to develop and formulate innovative business policies to ensure optimal risk management for SATYA Micro Capital, which has helped the company to perform in a much more efficient and effective manner.