2019 August E-News

2019 August E-News

 

Welcome to the August edition of E-News.

This month we held a hugely successful ASIC Update in Sydney. ASIC Commissioner, Sean Hughes, gave an engaging presentation on the current priorities for ASIC and how they are responding to the Royal Commission into Banking and Financial Services. A LIVE webinar was offered to Westpac staff who were unable to attend the event. It was subsequently offered to RMA Members post event. This was to ensure all members right across Australia had access to this high quality presentation.

Our Annual CRO Forum was also held this month, attracting the most Senior Risk Professionals from the Financial Services industry at our signature event. Brought to you by Deloitte, the theme this year was Risk: Unquestionably Evolving. Look out for our full CRO Forum wrap up in next month's E-News!

Last but not least, we took the Technology & Machine Capabilities to Support Risk Asessment event to Brisbane. PwC once again delivered an informative event.

In this month’s E-News, we put the spotight on Glenda Crisp, Chief Data Officer, EGM Enterprise Data, NAB, ahead of our "Women, Technology and the Future of Risk" event next month. Plus we learn more about new RMA Australia Management Committee member, Jefffery McArthur, Chief Risk Officer, Greater Bank.

It is an exciting time to be a member of RMA Australia so don’t forget to FOLLOW RMA AUSTRALIA on LinkedIn to stay updated and be part of our active network.

Richard Gilbert - Executive Director

Read more about  "Resillience" in our next RMA Review blog. Online in September!

**SPOTLIGHT ON**

Glenda Crisp, Chief Data Officer, EGM Data Enterprise, NAB

What are the 3 – 4 primary tasks of your role, Chief Data Officer, EGM Enterprise Data at National Australia Bank?

I’m focused on four key goals in my role:

- Uplift Data Governance, Data Quality & Data Management capabilities

- Build new data platforms with deep and strong foundations enabling future flexibility

- Build advanced analytics & machine learning capabilities

- Shift the culture to data-driven and insights-led

How long have your worked in Risk and what pathways have you chosen along this journey?

I’ve never had a formal line role in risk – my background is technology and data. But I have always thought of my risk colleagues as my first phone call. A risk mindset is everyone’s job all of the time and this is what I expect from my team. You have to do the basics right, and have strong risk practices and hygiene to earn the right to do the strategic and creative work.

How important is it to invest in data and analytics in the workforce?

It’s critical for several reasons. Very simply we need to invest in data and analytics capabilities to stay competitive in an increasingly data-driven and digital world. We need to invest in it to meet our customers’ expectations in terms of the service we provide them, and to protect their data and earn their trust. We also need to invest in it to ensure we can adequately meet regulatory requirements.

Which data sets take most of your attention? And what problems do you experience in collecting and storing data?

Controls and permissions around that. I’m also focussed on data quality on customer data because this is what enables our customers to have better interactions and better outcomes.

What is “data architecture” and how is this relevant to risk management in the financial services industry?

Data-architecture is the systems, standards and processes that under-pin how you source, move, manage, store, protect and use data. Its critical for how we manage risk because it goes to the heart of protecting our customer data and acting with their best interest at heart.

In your opinion, what are the biggest challenges facing female Risk professionals in our industry?

I think the two greatest challenges our female risk professionals face to progress is having role models and flexibility. I’m happy to say these are both things we are doing well at NAB and it’s pleasing that we are seen as an employer of choice for woman; I work on a daily basis with many wonderful female executives.

My encouragement for all ambitious woman across technology, data, banking, and risk is to be pro-active on two fronts: seek out organisations and roles that are right for you and make the most of what they offer, and take any training and learning opportunities that come your way.

What are RMA Australia’s biggest challenges?

I think it has to come back to data – how to evolve risk processes to face into the complexity of privacy, consent, increasing volumes and types of data, and the growing prevalence of machine learning and artificial intelligence.

Event Highlights

Sydney  ASIC Update, hosted by Westpac.  We ran this successful event (plus webinar option) in Sydney. Thank you to speaker, ASIC Commissioner, Sean Hughes and Catherine Thrum, Nicole Amatai and Westpac team.

ASIC Commissioner, Sean Hughes addressing a full house at the ASIC Update (Sydney), hosted by Westpac.

Upcoming September Events

SYDNEY I Women, Technology and the Future of Risk I Monday 9 September 2019 | 4.00pm Presentation followed by Networking Drinks from 5.00pm – 6.00pm. REGISTER HERE:

MELBOURNE I ASIC Update I Tuesday 10 September I 4.00pm Presentation followed by Networking Drinks from 5.00pm – 6.00pm. Registrations have now closed for this event

What our members are saying about our RMA events.....

“RMA events are always easy to access and well organised."

 

 

**Jeff McArthur - Chief Risk Officer, Greater Bank**

When did you commence in your new position as Chief Risk Officer (CRO), Greater Bank?
I started here at Greater Bank in May this year attracted to a role that would see me help shape the future responding to an external environment full of change including regulatory created opportunities! Previously I spent a number of years at Westpac in Sydney, Lloyds Banking Group in the UK and also time in New Zealand!
What are the 3 – 4 primary tasks of a Chief Risk Officer (CRO)?
In some respects my primary task is the protection of my colleagues, our customers and the communities.
I do this through providing support, advice and guidance to my Board as they set the risk appetite of the Bank, while then helping the executive team execute within our risk management framework/strategy keeping a robust strong check and challenge approach consistent with our 3LOD model.
Lastly, I love leading, developing and coaching a team of dedicated risk and compliance professionals who help deliver incredible risk outcomes whilst supporting the behavioural and cultural needs across the Bank.
In your opinion, what are the biggest challenges facing Risk professionals in our industry?
Probably the pace of change – as the world and our industry changes, whether through technology developments, or customer norms/behaviours, new and exciting things becoming available we face into new and emerging risks that require us to adapt and enhance our approach.
This often means we need to not only identify these new emerging risk types, understand and assess them but also work out how to actually use some of these (particularly emerging technology developments) to assist in managing often the very same risk!
This also creates a wonderful opportunity for us to absolutely demonstrate and promote the strategic value that risk can provide in preparing for the future whilst not replicating the errors of the past.
What are RMA Australia’s biggest challenges?
Interestingly the RMA Australia has a sound proposition having grown and supported risk professionals here since 2004. The key challenge - like risk more broadly - reflects the fact the next 15 years are going to see significant new developments compared to the last. We are already seeing the effects of things like the Royal Commission just in the last 12 months, the changes in Society expectations coupled with new entrants challenging and re-setting customers understanding of how things can be done. Therefore the RMA, as an organisation passionate on the development of risk professionals, the challenge will be to keep sufficiently ahead of the curve to help continue the success of the past in providing opportunities to build and develop risk professional capabilities into the future. Especially given the increased demand currently and into the future for talented, competent and capable risk professionals!

If you or anyone you know is "on the move" or has exciting news to share, please email marketing@rmaaustralia.org.

Join the conversation on:

< Back