Kaushal joins IDFC as chief risk officer

IDFC’s Mumbai-based corporate team has hired Pavan Pal Kaushal, a risk management expert.

Pavan Pal Kaushal has joined IDFC’s Mumbai-based corporate office as chief risk officer, the latest of a series of top management hires.

As chief risk officer, Kaushal will be overseeing all risk areas as defined under the bank’s current framework (credit risk, market risk, environment risk, safety systems and operational risk) and will lead the design of its new risk architecture. He will report to Vikram Limaye, the firm’s managing director and chief executive officer. He will join the bank’s operations and steering committees.

Kaushal has over 30 years of experience in the banking and financial sector as well as in the consulting industry, including mandates across the spectrum of risk management functions, in both domestic and global roles.

Commenting on the appointment, Rajiv Lall, executive chairman, IDFC Limited said: “He has managed large teams across geographies from diversified work cultures and has been instrumental in setting up risk and credit policy functions in the banks he has worked for.”

Prior to joining IDFC, Kaushal led the financial services risk practice at Ernst & Young, covering credit risk, operational risk, market risk, corporate & treasury risk management and quantitative advisory services. His previous roles include head of commercial credit risk for the Asia Pacific region and chief risk officer for India business at ANZ, as well as various leadership positions across multiple markets at Citibank.

IDFC Limited is an integrated infrastructure finance private company providing infrastructure financing and project implementation services. It was established in 1997 by a consortium of public and private investors.

In April this year, the company signed a deal with SBI Capital Markets to place an INR30 billion (€368 million; $500 million) listed structured bond for the Indian oil and gas infrastructure vehicle IOT Utkal.