2019 October E-News

2019 October E-News

 

Welcome to the October edition of E-News.

This month we focused on the important topic of Third Party Risk Management. It is becoming increasingly important for modern Financial Services organisations to use outside suppliers in the current complex technological and regulatory environment. We will touch more on the changing nature of this in relation to third party risk, in our November blog.

Our Melbourne event on Third Party Risk Management was well attended. We look forward to delving deeper into the evolution of operating models involving a mix of suppliers, service providers and alliance partners, at our Sydney and Brisbane events later this month. Topics such as: Non-compliance, reputational damage, supply chain disruption and inconsistent customer experience will be discussed.

This month, continuing our theme of Third Party Risk Management and compliance, we are featuring Amy Mahony, Executive Director, Regional Head of Compliance, Macquarie Group. She provides a good insight into her busy role and the associated challenges in **SPOTLIGHT ON** below.

Don't forget to FOLLOW RMA AUSTRALIA on LinkedIn to stay updated on current industry hot topics and to be part of our active network.

In next month's E-News, we will take a look back at our forums and events from 2019 and let you in on some of our plans for Risk Management Australia in 2020.

 

**SPOTLIGHT ON**

Amy Mahony, Executive Director, Regional Head of Compliance, Macquarie Group

What are the 3 – 4 primary tasks of your role, Executive Director, Regional Head of Compliance, Macquarie Group?

I am responsible for our Compliance function in Australia and New Zealand. This involves leading a team of skilled professionals to ensure we have an appropriate compliance framework in place.  The work is not only around adherence to relevant regulation, it also covers the important aspect of proactively responding to the broader environment, including our regulatory environment.  

How long have your worked in Risk and why did you choose “compliance” as a pathway along your career journey?

I started my career at the ASX so that was a role which had a clear risk management element which has been a continuing theme throughout my professional life.  Leaving the ASX to move to a role in Corporate Compliance seemed like a logical next step. I thought it would be good experience for a couple of years but it has ended up being much more than that. The challenges and opportunities working in Compliance are always changing, and this is particularly the case in the financial services sector so it is a very stimulating environment in which to work.

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

Compliance is really about managing regulatory risk. This is very broad remit, so to me it is really important to be thinking very consciously about this breadth. With the current additional focus in all markets on non-financial risk Compliance and compliance culture, it is more important than ever. 

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

I don’t perceive any real gender specific challenges. Regardless of gender, I think for anyone working in this role that flexibility is possible if you’re in a culture which recognises its importance.  For me, the biggest challenge in leading a risk function is supporting our people by ensuring compliance professionals are working in an environment which is conducive to working to the best of their ability over the short term but over the longer term as well. It is great to see the way our workplaces have evolved in the last few years to accommodate and promote the wellbeing of our staff.    

You attended the premier event 2019 CRO Conference, was it a useful exercise for you as a risk professional?

Definitely. I don’t attend a great deal of these types of events but it is always useful to hear from our regulators first hand as well as have the opportunity to network.  I was impressed by the diverse agenda at the Conference and the high calibre of presenters. 

What are RMA Australia’s biggest challenges?

RMA’s membership has grown substantially over the last year so I think the current challenge is for the Association to maintain momentum while recognising members are time constrained. This year’s events have been excellent, so I’d like to see that quality continuing. 

Event Highlights

Melbourne - Third Party Risk - hosted by Deloitte. So far in October, we have run this event in Melbourne. Our Brisbane and Sydney events are scheduled for later this month. A huge thankyou to Deloitte for hosting and all the speakers/panelists.

Third Party Risk Management panel (Melbourne), consisting of (L-R) Graham Dickens of Judo Bank, Dr Leeora Black (Deloitte) and Daniella Kafouris (Deloitte).

Upcoming October Events

BRISBANE I Third Party Risk Management I Tuesday 29 October I 4.00pm presentation, followed by Networking Drinks from 5.00 - 6.00pm I Hosted by Deloitte

SYDNEY I Third Party Risk Management I Thursday 31 October I 4.00pm presentation, followed by Networking Drinks from 5.00 - 6.00pm I Hosted by Deloitte

Upcoming November / December Events

SYDNEY I Guest Speaker: David Stephen, Group CRO, Westpac I Thursday 21 November I 4.00pm presentation, followed by Networking Drinks from 5.00 - 6.00pm I Hosted by Westpac. Details on website soon.

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

"Great to see the level of passion by those involved."

 

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

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