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IFC Trains Corporate Directors to Help Improve Risk Management in the Philippines


Manila, Philippines - IFC, a member of the World Bank Group, is helping train Philippine corporate decision makers to improve their ability to manage risk effectively and avoid excessive risk-taking that could lead to major losses.

IFC and the Institute of Corporate Directors are holding a two day workshop starting today on building enterprise value through good risk management and improving corporate boards’ risk-taking decisions.

“Risk governance is an essential function of the board. This workshop forms part of the continuing education of our fellows and associates who understand that risk governance is a natural and critical complement to strategy execution, especially in the current uncertain business environment,” said Rex C. Drilon, President of the Institute of Corporate Directors.

The workshop is part of IFC’s initiative to strengthen the private sector following the global financial crisis.

“Risk management is important in helping prevent the loss of value to shareholders, debtors, and other stakeholders of firms in emerging markets. This workshop will help improve local firms’ risk oversight structures and processes and enhance the oversight competence of their boards,” said Jesse Ang, IFC Resident Representative.

The workshop is facilitated by Maxine Garvey, IFC Senior Corporate Governance Officer; Oliviero Roggi, a corporate finance professor from University of Florence in Italy and Chairperson of the International Risk Management Conference; and Torben Juul Andersen, a strategy and international management professor from Copenhagen School of Business.

About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets. In fiscal 2011, amid economic uncertainty across the globe, we helped our clients create jobs, strengthen environmental performance, and contribute to their local communities—all while driving our investments to an all-time high of nearly $19 billion. For more information, visit


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