GRC 2018 Event Series attendees in Melbourne singing Imagine by John Lennon.
Yesterday, the GRC Institute hosted the final 2018 instalment of the GRC Event Series before the holiday season was in Melbourne.
The day kicked with Dr. Bob Murray from Fortinberry Murray addressed the challenge of people.
His approach goes hand in hand with his piece on what is wrong with the regulators are doing.
He takes the scientific approach and shows how the increasing uncertainty, testosterone levels, increasing inequality and the end of ‘capitalism as we know it’ has contributed to the growth in the culture of crime.
Dudley Kneller Partner from Madgwicks Lawyers talk about the different types of cyber breaches and data breaches, while also considering the impacts of the Notifiable Data Breach (NDP) Scheme and the General Data Protection Regime (GDPR).
Kneller also addressed what he defined as the conservative approach that organisations have taken to the term ‘serious harm’ in the data breach reporting and how that will change over time.
After Morning Tea, Glen Falting from Arenburg Consulting spoke directly to the role of the compliance professional, an issue that was hotly debated in Sydney event in October
FAlting called on the compliance professionals to be being custodians of the of the business risk even though they are not in the first line, because that will help to build trust.
Willem Punt from Deloitte is a returning speaker from the GRC Event Series in Sydney. Punt focused on the question of ethics and capabilities when it comes to compliance in banking.
The day after the Sydney event they released the Deloitte Trust Index to see how you can measure the trustworthiness in banks and what do you want to do with it.
He said that trustworthiness is a more important measure than trust itself. Trustworthiness is the major theme for the Australian Securities and Investment Commission (ASIC) chairman James Shipton.
Punt said that is moral compass problem in Australian businesses but the discussion on ethics is not productive.
After lunch, Phil Preston the Collaboration Guy dealt with rapid change. He is another speaker who presented at the GRC Event Series in Sydney in October. In his piece, he said that everyone wants the carrot and not the stick but don’t know what the carrot looks like?
He said that collaboration in the carrot by creating, what he defines, as the win-win piece.
Preston shows what win-win collaboration looks and steps outside of the risk and compliance space to help provide some context.
The questions arise, however, when the relationship is asymmetrical. What would mutually collaborative arrangement look like in the risk and compliance industry?
Ben Kelly, Australian Tax Office (ATO) Chief Risk Officer brought a regulatory perspective to the conversation and looking at risk in the public sector.
The content of what Kelly said is covered by Chatham House rules but the insights Kelly shared of the ATO risk management is very like the problem to some of the questions that organisations have been asking themselves
Stephen Fergusson, the new GRC Institute President, then wrapped up the day addressing many of the issues that were brought through the day through the lens of the Royal Commission.
Much of the discussion rested on the strength of the four pillars and the what changes in the risk and regulatory landscape in 2019 and beyond.