HDFC Bank, the country's largest private sector lender, said on August 25 that its board approved the re-appointment of Sanmoy Chakrabarti as the Chief Risk Officer (CRO).
According to the bank's filing to the stock exchanges, Chakrabarti has been re-appointed for a period of five years.
"He will be the chief risk officer of the bank for a period of five years from December 14, 2023 to December 13, 2028," HDFC Bank said.
Chakrabarti, as the CRO of the bank, is responsible for determining the comprehensive risk appetite (covering Credit Risk, Market Risk, Operational Risk, Liquidity Risk, etc.) across various banking segments.
Additionally, he "oversees the Enterprise Risk Management framework in the Bank and guides the formulations of policies and procedures for Internal Capital Adequacy Assessment Process, Stress Testing methodology, and Group Risk Management. He is also responsible for identifying and managing any emerging risk having material impact on Bank’s activities," according to the filing.
Chakrabarti, who holds M.S. in Quantitative Economics from the Indian Statistical Institute, is a member of the Indian Banks’ Association (IBA) Standing Committee on Risk Management and Basel Implementation, the filing added.
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