Given the diversified nature of our business portfolios, the risk parameters are unique and vary for each business unit. Hence, we adopt an Enterprise Risk Management Framework (ERM) for each Business Unit and then it’s integrated towards the Group Holdings’ ERM Framework shares Tamil Selvan Ramadoss, Group Chief Finance and Business Transformation Officer, RMB Holdings, Dubai, UAE, International Speaker, Thought Leader & Expert – Triple Helix Model in an exclusive interaction with Nidhi Shail Kujur of Elets News Network (ENN). Edited Excerpts:
RMB Holdings operates in various sectors. How does your finance and transformation strategy align with the diverse portfolio of the company?
As the Group Chief Finance and Business Transformation Officer, I ensure that we design and implement a specific Business Transformation Strategy for every Individual Business Unit, considering the diversity of each such unit. This individual business transformation strategy is then linked and directed towards the Group Holding’s Business Transformation Strategy.
Similarly, each specific Business Transformation Strategy for every Individual Business Unit will be linked and aligned with that respective Business Unit’s Financial Strategy, such as Budgeting, Capital Structuring, and Treasury. Further, the individual business unit’s Financial Strategy is linked and directed towards the Group Holding’s Business Financial Strategy.
As an expert in the Triple Helix Model, could you elaborate on how this model has been applied in your professional experience and its impact on business outcomes?
Triple Helix Model (TMH) is one of the unique and innovative models that was pioneered in the past 3 decades, which aims at integrating Academia, Industry and the Government. While Academic research creates innovative outcomes, the same is supported by Governments through funding, while industry adopts these research outcomes and create a feasible economic model of the same. All these integration leads to overall economic growth. During my 13 years (2009 -2021) at Dubai Maritime City Authority, Government of Dubai, UAE, I extensively worked on the prestigious project in the Dubai Maritime sector namely, Dubai’s Maritime Cluster study that ranked Dubai within the top ten “Leading Maritime Capitals of the world” and ranked fifth for Attractiveness Competitiveness in 2017. Under this, we had the sub-project, wherein we integrated the UAE and International Academic Institutions, with various Maritime Industries modeled under the Triple-Helix Model.
Working in Dubai, a global business hub, what unique challenges and opportunities do you see in the financial and business landscape compared to other regions?
I had the great opportunity to work both in India and Dubai, UAE during the past 28 years of my career. I started working in Dubai in 2002 and continuing my 2 decades of corporate life in the UAE. Dubai is a land of great opportunities and I witnessed its exponential economic growth in the past 2 decades. Dubai gives lots of opportunities both in job and in the business sector. Real Estate, Logistics, Construction, International trade, and Tourism were some of the important business segments in the past, while Technology, Healthcare, and Financial Markets have had an upward trend in recent times.
