| | FEBRUARY 20248BYJU's, the Indian ed-tech startup, was a hot sell on Wall Street. The most valuable startup in India's history has many takers. In 2021, this interest peaked, and investment offers flooded to the tune of $1.2 billion, giving BYJU's a new chest for global expansion. However, in a complex case of enterprise risk management (ERM) failure, the company's world turned upside down. From financial risks of over 20:1 debt-to-equity ratio to sticking on to its complex business model and reputational damage in shut-eye time, BYJU's could never foresee what was coming, reminding organizations of the importance of risk assessment and management. Mandeep Mehta, Group Chief Financial Officer, PB Fintech, joins us for an exclusive interaction wherein he talks about risk assessment and management, as well as other aspects of financial management. Below is an excerpt from the interview.How can CFOs effectively recognize and evaluate potential threats that might affect the company's financial objectives?A robust Enterprise Risk Management framework is extremely important for identifying and mitigating risks. It enables organizations to monitor action plans effectively and ensure alignment with financial goals. Next, staying ahead of technological and regulatory advancements is another critical component. The pace of change in these areas requires quick and smooth adaptation to build financial resilience. Collaboration with industry bodies and policymakers ensures better alignment with macroeconomic trends and WHY IS FINANCIAL RISK MANAGEMENT IMPORTANT?THOUGHT LEADERSHIP Mandeep Mehta Group Chief Financial Officer PB FintechMandeep hails from a rich professional background in spearheading leadership roles in finance across multiple reputed firms. Today, he is on a mission to achieve momentum for business with financial strategies, internal and external business.
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