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Chief Risk Officer and Board Member Umakanth Rama Pai is First in Indonesia Awarded the Certificate in Risk Governance®

Umakanth Rama Pai

Umakanth brings a rich set of experiences across many dimensions of risk and business management. His expanding risk knowledge is setting an example for his board colleagues across Indonesia.”
— David R. Koenig, QRD®, President and CEO of The DCRO Institute

GLOBAL, ORGANIZATION, April 17, 2024 / -- The DCRO Institute, the world's leading source of risk governance training and credentials for board members and C-suite executives, announced today the award of the prestigious Certificate in Risk Governance® to Umakanth Rama Pai of Jakarta, Indonesia. Umakanth is the first person in Indonesia to earn this global distinction.

Umakanth is the chief risk officer and member of the board of directors at PT Bank Jago Tbk in Jakarta. He has over 25 years of experience in banking sector and has handled retail portfolios in 11 countries across South Asia, the Middle East, Southeast Asia, and Africa. Prior to his role with PT Bank Jago Tbk, he was the chief credit officer, retail banking for Standard Chartered Bank, based in Mumbai, India. He has also served as country credit head for UAE, cluster risk head for Southern Africa Region and as unsecured risk head for Singapore. He was a member of the country management committee (Board) in Standard Chartered Bank, Botswana. Additionally, he served as head of risk for the unsecured and consumer finance in Bank Danamon, Indonesia. He has his MBA from the University of Calicut and his B.Tech in Production Engineering from GECT, University of Calicut. Umakanth completed executive education at The Wharton School, Saïd Business School at the University of Oxford, the Massachusetts Institute of Technology, INSEAD, and Singularity University, with professional credentials from the Indonesian Professional Certification Authority (BNSP).

“Umakanth brings a rich set of experiences across many dimensions of risk and business management to his work," said David R. Koenig, QRD®, President and Chief Executive Officer of the DCRO Institute. "His board will benefit greatly as he expands his service and knowledge in the governance of risk-taking and he is setting an example for his board colleagues across Indonesia."

The Certificate in Risk Governance® is awarded to those who have completed The Board Members' Course on Risk® - an intensive 17-course education program and evaluation. The curriculum is designed for current and aspiring board members who seek to advance the governance of risk-taking at their organizations and those who interact with boards. Taught by some of the world's leading figures in risk governance, the program features lessons by nearly 50 board members, C-level executives, and well-known authors from five continents. No course on risk for board members as robust as this - depth, practicality, and global expertise - exists anywhere else.

“I have attended other courses on enterprise risk management, but none have provided the perspective that this program has provided me,” said Mr. Pai. “With rich content and expert speakers, this program provides the perspective that a board director truly needs. The manner in which the concepts have been crystallized from multiple sources and woven together into a compelling narrative is truly commendable. I would strongly recommend this program for any board member or senior executives aspiring for board positions,” he continued.

The fundamental Duty of Care for directors around risk is to ensure that our organizations take risks well in pursuit of our goals and ambitions. This course furthers the fulfillment of that duty. Candidates may enroll in the Certificate in Risk Governance® program by visiting

Read testimonials about the program at

About the DCRO Institute – The DCRO Institute is the world's leading source of risk governance training and credentialing. We are a 501(c)3 nonprofit peer collaboration among board members and C-Suite executives from around the world. The DCRO Institute is the home of the Qualified Risk Director® designation, the Certificate in Risk Governance®, and the Certificate in Cyber Risk Governance®. We work globally to bring risk expertise to the boardroom and C-suite by teaching the positive governance of risk-taking.℠ Graduates from our programs are leaders in boardrooms and C-suites on six continents. Our goal, which is emblazoned on our logo, is to help organizations Innovate, Sustain, and Create Value. Visit to learn more.

For more information, please contact David R. Koenig at +1.612.286.1776 or by e-mail at

David R. Koenig, QRD®
The DCRO Institute
+1 612-286-1776
email us here
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About the Board Members' Course on Risk®

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