Omolabake Fashogbon

As preparations for the NFPAWA operational risk management conference hits top gear, more speakers have lined up to make the second edition of the annual training programme more rewarding and impactful.

One of the key resource persons is the South African financial analyst and founder of JC Capital Ltd, Joel Chimhanda, who will deliver a comprehensive note on the theme of the conference, ‘Sustainable Macro Economic Development: The Safety Perspectives’.

The conference billed for May 9 through 12 at Oriental Hotels in Lagos will also feature a major cocktail event with eight leading risks consultants from the United States of America and South Africa in a boardroom session. The President of Lagos Chamber of Commerce and Industry (LCCI), Dr. Nike Akande and a host of other experts will also be on ground.

Amongst other critical issues, the conference which carries a three-pronged agenda including standardisation, awareness and capacity-building will focus on health, life environmental and fire safety, while also addressing issues of professionalism and standardisation across all business sectors and government institutions. This is with the clear objective to spur growth and sustainability in the economy.

Specifically, Chinmada will be looking at the critical need for operational risk management in life, safety and the security as a driver for institutional, corporate and national development in Africa, the African Union rationalisation and why Nigeria should play an important role.

Speaking in an interview recently, Chinmada agreed that Nigeria and indeed Africa development and sustainability can be enhanced and protected through operational risk management.
“Continuous development can only come through sustainability. Sustainability ensures continuous and incremental capacity building in all enterprises and institutions thus the road map to adequacy, self-sufficiency, wealth generation and value creation.

He stressed that the African region was still behind the developed and advanced economies because it continued to re-invest in disaster which has slowed down development in the region.
As such, he urged government and private investors, particularly in Information Communication Technology, building and construction and emergency response personnel, security agencies to take full advantage of the training exercise.

“In Nigeria for instance, we have heard of explosions in power plants that already, are not adequate; uncontained market fires that bring investments and livelihoods to zero because of inadequate response frameworks; massive building collapse resulting in huge capital losses; road structures with no inbuilt utility service; excessive risk transfer to insurance thus zero bcp; law enforcement agents that do not know they are first responders nor even how they integrate in any security framework. This wastage can be prevented if standardisation and professionalism were to be in order.

“Operational risk management is complex with a vast multi-disciplinary interface and context diagnosis required. This is why we need to do it ourselves. The chain starts from the government policy, project owner and financier through strategy, design, implementation, facilities, and insurance. The ability to bring all to a table; each having a clear understanding of their risk management role is why we are aiming at building a community of risk management professionals, risk engineering, control and governance all inclusive”, he added.

He urged Nigeria, being a leader in the Economic Community of West African States (ECOWAS) region to live up to her status as a leader in timely knowledge update and expansion, through training and capacity development.