RMA Newsletter - May 2016

RMA May News

RMA is now well advanced in executing its 2016 program of events and professional development activities. It has been great to see so many of our members engaged and attending these events.  

Events Highlights

Sydney and Melbourne

We began this election year with an expert panel discussion of the industry's leading government relations specialists focusing on regulatory and reputation risk.

They predicted that banking and financial services would be prominent in the debate which is now unfolding following the announcement of a Federal poll for 2 July 2016. There will be follow up events on this topic in coming months.

We have also covered how risk professionals can advance their career by adopting new strategies in personal and team work. During International Women's Week in March, Dr Adam Fraser challenged members to focus their non-work priorities to be well rounded professionals. 'The third space' was canvassed, along with the strategy of 'reflect, rest and reset'.

Following on from Adam, in April, Author of recently published book 'Step Up', Michelle Gibbings', addressed the human resource imperative of deploying special strategies to influence team outcomes. Later this year Michelle will speak in Brisbane. Thank you Michelle for such a lively and at times entertaining presentation on 'stepping up' as risk managers.

The question of bank capital and the meaning of “unquestionably strong” was the topic for our May events which featured Ed Emanuel,  Principal at Oliver Wyman. These events were well attended and elicited focused discussion from the floor. Special thanks go to Ed along with Ernst & Young for hosting.

Brisbane Events

Our Brisbane chapter continues to convene exciting topics and events. Erin Loch from CBA hosted and chaired the Under Treasurer of Queensland Treasury, Jim Murphy. Jim gave a thought provoking update on the Queensland economy which resulted in a highly interactive question and answer session. Special thanks go to the Under Treasurer for so readily accepting our invitation.

Macquarie University Graduate Diploma News 29 May Deadline

By now all RMA members are probably aware of the new Graduate Diploma specialising in Financial Risk Management from Macquarie University.  This new qualification has been developed to reflect the needs of RMA members working in the Australian context. 

The first cohort starts in late June (Sydney and Melbourne) and applications must be in by 29 May.  The next intake will not be until the same time next year so don’t miss this opportunity.  Be sure to get your application in at www.mafc.mq.edu.au

Update on Interbank Forums

Interbank Compliance Risk Forum (ICRF)

The Interbank Compliance Risk forum is chaired by CBA’s Cassandra Williams (Chief Compliance Officer). The ICRF met in February (hosted by Narelle Smith Head of Compliance, NAB) with the following presenters:

  • Stephen Davey (General Manager of Audit, ANZ) presented on Internal Audit perspective on 3 Lines of Defence and; 
  • Philip Field (Lead Ombudsman - Banking & Finance, Financial Ombudsman Service Australia [FOS]) provided his perspective on trends, areas of concerns, recent cases and updates.

Operational Risk Forum (ORF)

Under the leadership of Cuscal’s Kieran McKenna (Chief Risk Officer), the ORF met in March (hosted by ANZ) to discuss wide ranging organisational issues such as:

  • Davos 2016 - Global Risks Report;
  • Measurement of risk culture; and
  • Blockchain - what is it and what is the opportunity in Financial Services?

Technology Risk Forum (TRF)

Under the leadership of NAB’s Martin Biggins (GM Risk - Technology and Information Security, Risk Enterprise Services and Transformation), the TRF met in February (hosted by NAB) to discuss significant issues such as:

  • How to oversight information security;
  • Cyber incident response plans;
  • Security and resiliency risks in cloud deployments; and
  • How to conduct effective oversight in an agile environment.

Interim Working Group on Model Risk Forum (IWG on MRF)

Under the leadership of CBA’s Mark Reinhardt (Executive Manager, Monitoring and Review – Group Operational Risk), the IWG on MRF met in March (hosted by NAB) to discuss pertinent issues such as:

  • AML and Fraud models;
  • Model issues (i.e. definition, ownership, risk appetite and change management); and
  • Spread sheet risk issues.

 Wishing you all well and looking forward to seeing you at our upcoming events.

Catherine Thrum

President

 

Richard Gilbert

Executive Director

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