RMA Newsletter - April 2013


April 2013


The RMA Events subcommittee under the leadership of KPMG’s Mike Ritchie has worked strongly in the last few months to develop an outstanding program of speakers for our Monthly Events. Thus far this year we have convened events on Networking, China’s regulatory risk and Commercial property prospects.

The May Event will be on NAB’s ‘Break Up’ strategy and will be addressed by NAB’s Executive General Manager/Dean of Risk Howard Silby and also by Dallas McInerney General Manager Government Affairs, who heads up NAB’s Canberra liaison function. This topic will run in both Sydney and Melbourne.

The June event will be hosted by EY’s Andrew Harmer and will feature speakers on the reforms in the wealth management space which will impact significantly the nature and shape of bank sales and practices in the wealth area.

The July events will have a distinctly Election 2013 flavour. CBA will host its event in Sydney with key political strategists giving their views on the Election and its possible impact on banking and regulatory risk. ANZ will host the Melbourne event, and to this end the speaker will be the chair of the Senate Economics Reference Committee, Senator David Bushby. The Bushby committee reported on the state of Australian banking post the GFC.

Networking Events for RMA’s younger members

In May and June RMA will be convening networking forums for those members who have been working in risk management for less than 7 or so years. The first of these events will be held in Melbourne on 1st May and this innovative event will be in a town hall meeting setting with five volunteers giving 5 minute speeches on their experiences in risk management. Special thanks go to ANZ’s Lisa Ingram for her work in developing this event. Similar events will be convened in Brisbane and Sydney, so watch this space.

CRO Conference

The 2013 Annual CRO event will be held in September.

Two new Interbank Forums – Wealth and Compliance

The RMA governing committee has established two new interbank forums (in addition to the Interbank Operational Risk and Technology Risk forums).  The intention is to convene three or four meetings per year, and that Institutional member companies should be able to nominate one or two representatives to attend these meetings. The Interbank Compliance Risk Forum to be hosted by CBA’s compliance risk head, Cassandra Williams, will meet on 20th June 2013. The second new interbank forum will be on Wealth Management and Risk Issues with BT Financial Group General Manger Risk, Royce Brennan, as the host. With issues such as Super Stream, Future of Financial Advice, new tax arrangements, and Stronger Super all impacting the risk coefficient, this interbank forum will be of particular interest for those members with Wealth Management businesses.

RMA Guidance note on operational risk management

On 8 April 2013 RMA published its Guidance Note on ‘The Risk and Control Self-Assessment' which sets out the guiding principles for implementing a risk and control self-assessment (RCSA) process for Australian financial services firms.  I would like to acknowledge the work of the Interbank Operational Risk Forum under the leadership of Tony Petkovski from CBA who was ably assisted by EY’s, Kent Wong.

Click here to access RMA’s Guidance Note #1.

Not a member of RMA or do you need to renew your membership?

RMA’s membership year runs from April to March. To attend RMA events you will need to sign up as a member. For just $50 you can be eligible to attend these events and networking opportunities. Please click here to renew your membership or to join as a new member under the banner of your Institutions membership.

Robert Molyneux

Chairman and

Richard Gilbert  

Executive Officer (mobile: 0417 247 998) 

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