RMA Newsletter - April 2015

Our Events

The 2015 calendar year is now well underway and the indications are that RMA will again convene enriching and enjoyable monthly events. The February event was hosted by PwC and addressed business ethics in our industry. We were especially grateful to the St James Ethics Centre for their presentation and also we extend thanks to the panel of divisional CROs for their insights. The event was convened in Sydney and broadcast to Melbourne, Brisbane and Adelaide with nearly 200 present.

The Women in Risk series in March (Sydney and Melbourne) were again well patronised events. The speaker was Dr Louise Mahler a communications expert who has worked extensively in the corporate sector following a career in opera. Special thanks to Westpac and ANZ for hosting these lively presentations. Our feedback from the female and male attendees was extremely positive.

The April Events will be convened in Sydney and Melbourne at ANZ’s facilities with commercial property risk under the microscope. We are looking forward to a newcomer to the RMA podium, ANZ’s global property expert, Phil Jones. Thank you Phil for being so flexible in agreeing to speak at this event.

In May KPMG will host events on the state of our industry through the lens of reports to ASX. We anticipate having a panel of analysts from the leading investment banks to give their special and well-informed insights on how well our sector is performing including the attendant risks.

In June we plan to hold sessions on ‘long tail risk’ and the Australian financial services sector with the assistance of leading academic Mark Fox from Curtin University, and he will be assisted by PWC’s key experts on this subject in Melbourne, Sydney and Brisbane.

The Events Team which is led by PWC’s Nicole Salimbeni is now working on the agenda for the remainder of 2015 and would be delighted to receive ideas and/or offers to provide content.

Our Forums

CRO Forum

Our premier forum is the CRO Forum which this year will be held on 15 September 2015 (hosted by EY). This event comprises 50 group CROs and other senor risk practitioners, and in part it sets the agenda for RMA’s future activities and initiatives. Andrew Harmer EY and the RMA team are well advanced in their planning for this one day conference.

We now have well established forums on ops risk, IT risk, and compliance risk. A new risk forum on model risk was recently established and is working on its mandate and list of activities.

Operational Risk Forum

The RMA Interbank Operational Risk Forum continues to be a passionate and well attended group. 

The 2015 Chairperson is Oliver Leung (Head of Enterprise Operational Risk and Insurance, Westpac Group) and Vice Chairperson is Susan Mackenzie (Group Head of Operational Risk and Compliance and Chief Risk Officer St Andrews, Bank of Queensland).

The following topics of interest have been discussed in this forum:

  • Conduct Risk, measuring risk culture.
  • Risk profiling guidance note.
  • Special CRO presentations, including presentation by newly appointed Westpac CRO, Alexandra Holcomb. Thank you Alex for you special contribution!
  • Cybersecurity.

Infrastructure Technology Risk Forum

This group continues to meet regularly throughout the year under the leadership of Des Silberberg, Westpac’s Head of Technology Risk, Advice & Assurance. At its March meeting it focussed on Agile project management methodology, cyber security with special briefing from the AFP, the global regulatory agenda vis a vis tech risk, and business understanding of technology risk.

Macquarie group CRO Stephen Allen addressed the forum in late 2014 on the challenges of his position from an infrastructure and IT risk perspective. Thank you Stephen for your unique and challenging contribution.

Model Risk Working Group

CBA provided the impetus to establish this group in late 2014.  It has met on two occasions under the chair Mark Reinhardt, Senior Risk Adviser, Model Risk Framework, CBA. Thus far the topics under review have included, ownership of model risk policy, allocation of responsibilities, measuring model risk, model risk registers, advanced accreditation, regulatory policy and action around model risk, and third party vendors.

Compliance Risk

The Interbank Compliance Risk forum (ICRF) is chaired by Cassandra Williams, Chief Compliance Officer of Commonwealth Bank. In early March 2015 the 6th Interbank Compliance Risk Forum was held, hosted by Westpac. 

The forum discussed conflicts of interest, incident and breach reporting, compliance key risk indicators, privacy compliance, obligations registers and roles and responsibility of compliance. KPMG presented on lessons learnt in implementing regulatory change.  Previous presentations have included highly regarded Professor Elizabeth Sheedy of Macquarie University presenting on Risk Culture.


At the end of 2014/15 our corporate institutional or corporate member numbers stood at 36 with the recent addition of listed funds manager, trustee and wealth manager, Perpetual Ltd. Our list of new corporate members continues to grow strongly, having increased from 21 to 36 in just two years.

The RMA board is pleased to advise that we have frozen institutional fees for yet another year. 

Our individual member fee of $50 has also not been increased.

Currently we have nearly 1300 individual members on our books, compared with 800 at the beginning of 2013.

Please encourage your colleagues to join RMA and then attend our events.

RMA is an ideal forum for professional risk managers to congregate and grow.

If you wish to attend events from April onwards you will need to be a financial member in order to register.

2015 AGM

This year the AGM will be in Sydney on 11 August 2015 at 1530 hours venue to be advised.

Howard Silby



Richard Gilbert

Executive Director

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