At the IIA Annual Conference 2025, held under the theme “Staying Ahead of the Curve: Emerging Issues and Trends in Internal Audit,” the conversation shifted decisively from traditional compliance mindsets to Enterprise Risk Management (ERM) as a driver, and enabler, of business strategy, not its hurdle.
The discussions, led by Nitin Jain (Protiviti), with thought-provoking perspectives from Darpan Choudhary (Zomato) and Vijay Sachdeva (Chambal Fertilisers and Chemicals), underlined how modern risk teams are stepping away from the historic perception of being gatekeepers or bureaucratic “policemen,” and instead are embedding themselves much earlier—sometimes even at the ideation stage—through to product launch.
ERM: A Seat at the Table, From the Start
Panelists emphasized that in agile organizations, ERM is now involved alongside product, compliance, and legal teams from the inception of a new idea or service, not just as an end-stage checklist. Choudhary described Zomato’s journey from a startup rarely consulting risk and legal, to a listed entity where risk leaders actively collaborate with business teams at every point of product evolution, helping to proactively identify and mitigate risks before they materialize.
Proactive Partnership, Not Policing
This shift means risk managers act as true business partners, jointly surfacing not just threats but also opportunities. Sachdeva explained that at stable, established organizations, the perception of risk teams is also changing. Continuous engagement, benchmarking externally, “braining over a cup of coffee” with business leaders, and injecting real-world lessons, turns ERM from a theoretical compliance exercise to a strategic asset.
Enabling, Not Hindering
Both speakers agreed: when the risk function is seen as a collaborator invested in business success, helping teams launch resilient, competitive products, it ceases to be a roadblock. Instead, risk professionals become enablers, catalyzing innovation and speed by ensuring risks are anticipated and managed alongside growth ambitions.
Takeaway for Indian Enterprises
The message at this year’s IIA conference: staying ahead of the curve means inviting ERM into the heart of business conversations, long before decisions are finalized. As companies face an unruly risk landscape, those who embrace ERM as a partner, not a barrier, are far better positioned to innovate, adapt, and grow.
About The Author
