The PRWIRE Press Releases https:// 2019-02-13T01:19:12Z Media Alert: Royal Commission 2019-02-13T01:19:12Z media-alert-royal-commission Sydney, Australia—13 February—The GRC Institute (GRCI) welcomes the actions of those organisations sending a clear message to their leadership that they are willing to make difficult decisions to achieve meaningful change. The resignations of Ken Henry and Andrew Thorburn at NAB are two strong examples. However, the GRCI, premier professional association in Risk and Compliance, cautions that symbolic sacrifices are not enough. Directors should consider themselves on notice: being unaware of issues is no longer a valid excuse. Priorities must be shifted to ensure the circumstances that led to the Royal Commission don’t happen again. “If they have not already done so, directors, CEOs and senior management need to clear the obstacles and reporting line filters between themselves and their compliance teams. They must provide power, access and resources immediately to their compliance teams to ensure they are in a position to act on what we have all learned through the Royal Commission, and to rebuild the trust of their customers,” GRCI’s Managing Director, Naomi Burley said. She added that senior management needs to schedule urgent meetings as a top priority with their Heads of Compliance, not just with their risk teams, and to hear, digest and inform themselves of every competing issue. Only with this knowledge can they then honestly and meaningfully set priorities for change. “Your compliance team is more than just an administrative function,” said Burley. “They are possibly the only personnel you have who are equipped to lead the changes necessary to positively impact customer trust.” Directors and senior management must adopt a proactive, strategic view towards breach detection, customer complaints and issues reported by staff—that is, they must learn to see such information as valuable, rather than as ‘bad news’. A lack of detected and reported breaches is the real bad news. If directors and senior management are not hearing about these issues, they have already breached their staff’s internal trust by failing to act decisively and without prejudice to protect the company’s reputation, as well as the reputation of employees and customers. And that simply isn’t good enough. Unfortunately, the business drivers for investing in Compliance and Risk management come unstuck because all many see is that the cost of remediation is huge, when issues are identified. However, organisations that understand and manage their risks proactively, and that build sustainable and robust business practices for the future, can by-pass the pitfalls of remediation. Risk and Compliance not only detects issues, it has the potential to complement the business strategy by building stronger, more sustainable enterprises in the long run. Burley concludes that, “Compliance professionals are the best-placed team members to assist organisations to strategically rectify the damage they have sustained through poor behaviours. But for too long, many have been prevented from communicating directly with those who need to know what they know. The myth that compliance ‘slows down’ business growth is complete fiction. Hopefully, directors have discovered that doing things right in the first place might have prevented eighteen months of pain and immense expense.” For further information, you can contact GRCI directly via the contact listed above.   About the GRC Institute The GRC Institute (GRCI)—formerly known as ACI—is the pre-eminent member association, servicing compliance and risk management professionals since 1996. We aim to unify and strengthen the GRC profession to provide a community in which individuals can come together to share knowledge, challenges and ideas on solutions to mould their vision for the future. For more information, visit: http://www.thegrcinstitute.org/   Proudly supported by our Principal Members: Westpac, NAB, ANZ, AMP, Commonwealth Bank and AIA.   Media Alert: Clarifying the Role of the Compliance Officer 2018-11-01T00:01:44Z media-alert-clarifying-the-role-of-the-compliance-officer-2 For Immediate Release   31 October 2018 — The hearings of the Royal Commission into Misconduct into Banking, Superannuation, and the Financial Sector Interim Report, not only exposed systemic misconduct but also highlighted the lack of industry understanding with regards to ‘compliance’ and ‘compliance frameworks’. The GRCI and its members—as noted by the recent submission to the Royal Commission Interim Report on 25 October—are not surprised by this, since compliance as a business function is often under-utilised and not resourced properly. One solution is that the role of the Compliance Officer (CO) needs to be better understood by organisations, placed, authorised and resourced appropriately and not treated like a back-office expense, rather than the business enabling framework it is, when utilised properly. A qualified compliance professional enables and facilitates the business understanding compliant conduct, assists them with analysing business practices, products and procedures and developing business-oriented solutions, that encompass sensible business decisions that, in best practice situations, exceed community and customer expectations. It is the view of the GRCI that governance, risk, compliance, and assurance is the responsibility of everyone working in the business, from those customer-facing, through all levels of management and right through to the board. All of these roles are ‘front line’ roles. Every single employee and director express their organisation’s values through the manner in which they prioritise and analyse business decisions. It is the role of the compliance professional to guide management and the board in their roles. With the complexity and volume of regulation in place for most organisations, it is not surprising that directors and senior management struggle with the depth of understanding needed to ask appropriate and meaningful questions to know enough to adequately execute their duties. Access by compliance to the board to fully support them is absolutely essential. The role of the CO is to alert the business when something is wrong, and if the business and relevant stakeholders fail to act, then there should be appropriate protections for the CO to speak with the regulator if need be. Further observations by GRCI and its members: ·         Compliance and conduct KPIs should apply to senior management and directors as a compulsory element of their remuneration; ·         Directors are ill-equipped to ask the right questions of compliance and risk management officers and might need training in this area; ·         Compliance needs to be able to report directly to the board, and to the regulator, if an issue arises; and ·         Senior management and directors need to be held accountable with ‘much more suitable penalties’ but also rewarded for ensuring the best conduct occurs. “What compliance professionals undertake within their organisations is frequently misunderstood, especially by senior management. The compliance team is often brought in way too late on product development, meetings with the business and issues, to do final sign offs or fix issues, rather than being proactively utilised,” GRCI Managing Director said. “Compliance professionals are facilitators and translators of the complexity of regulations, stakeholder expectations into practical business options by working with the business to work through and develop the deep understanding of the requirements and enable the business conduct to reflect stakeholder expectations and good business practice.” About the GRC Institute The GRC Institute (GRCI)—formerly known as ACI—is the pre-eminent member association, servicing compliance and risk management professionals since 1996. We aim to unify and strengthen the GRC profession to provide a community in which individuals can come together to share knowledge, challenges and ideas on solutions to mould their vision for the future. For more information, visit: http://www.thegrcinstitute.org/   Proudly supported by our Principal Members: Westpac, NAB, ANZ, AMP, Commonwealth Bank, AIA, KPMG, and Thomson Reuters. Media Alert: GRC 2018 Events Series 2018-03-05T01:39:57Z media-alert-grc-2018-events-series Press Contacts Naomi Burley naomi.burley@thegrcintsitute.org   For Immediate Release Australia and New Zealand — March 5th, 2018 — Instead of our Annual Conference this year, the GRC Institute will be hosting the GRC2018 Events Series to better support members in Australia and New Zealand. The event will be combined with an awards dinner for those risk and compliance professionals and students who have gone above and beyond.   The event dates are: ·         14 March – Perth ·         21 March – Sydney ·         11 April – Melbourne ·         6 June – Brisbane ·         21 June – New Zealand Summit ·         27 June – Sydney II ·         17 October – Masterclass and Keynote Session Sydney & Awards Dinner ·         12 November – Melbourne II   The thematic focus for GRCI’s upcoming event series will be continual learning, self-analysis, career planning, business changes, technology, regulatory updates, and risk and opportunities. This series is an opportunity for the GRCI to cover those areas that affect our members and to work with members to help find common solutions. “Professionals need to ask themselves on a frequent basis: Do you feel confident your skills and knowledge are current and that you know the best way to do things; that there are opportunities about which you could learn to help your organisation do things better or more efficiently?” GRCI Managing Director Naomi Burley said. “This series of events is intended to be responsive to members’ needs and to provide valuable speakers on topics critical to our members, as well as providing them with access to local regulatory input and relevant contacts and networks. These one-day events will offer members a day of intense workshop and plenary topics, and will vary depending on the city and current issues as they arise.” Visit the GRCI events page for updates on the GRC2018 Event Series. About the GRC Institute The GRC Institute (GRCI)—formerly known as ACI—is the pre-eminent member association servicing compliance and risk management professionals since 1996. We aim to unify and strengthen the GRC profession to provide a community in which individuals can come together to share knowledge, challenges and ideas on solutions to mould their vision for the future. For more information, visit: http://www.thegrcinstitute.org/   Proudly supported by our Principal Members: Westpac, NAB, ANZ, AMP, Commonwealth Bank, AIA, KPMG, and Thomson Reuters.   ### Media Alert: 21st Annual GRC Conference 2017 2017-07-06T05:10:31Z media-alert-21st-annual-grc-conference-2017 Media Alert: 21st Annual GRC Conference 2017 MELBOURNE, Australia — 6 July 2017 — The 21st Annual GRC Conference 2017 will be held from 12 October to 13 October 2017 at the Grand Hyatt in Melbourne. The Conference brings together governance, risk and compliance professionals, as well as suppliers, in an environment dedicated to the networking and sharing of ideas under one roof. The theme of this year’s two-day Conference is audacity. This is taken from the Winston Churchill quote “The first quality that is needed is audacity”.   “With increasingly sophisticated demands on regulations and emerging technologies, boards are confused about who their best-trusted advisers are, and where they can get trusted information so they can do their jobs properly,” says Naomi Burley, Managing Director of the GRC Institute. “We feel that our members—risk and compliance professionals—are not recognised for their organisational knowledge or depth of understanding. “However, we feel now it is time for them to be audacious and insist on recognition for their valued contribution and to stake their claim as trusted advisors. That is what this Conference is about—equipping and inspiring them to do so. Our members are those people to whom organisations need listen to tackle the big issues and advancing risks more effectively.” Day one of the two-day Conference will focus on external perspectives and industry updates; day two will look at developing those interpersonal skills necessary to help attendees stake their claim. This Conference will also be an opportunity for GRC professionals to receive industry updates, hear from regulators, measure different perspectives in the GRC space, assess the impact of emerging technologies—such as Fintech and RegTech—network with like-minded professionals, and be inspired to take their place at the leadership table.    Confirmed speakers for the 21st Annual GRC 2017 Conference so far include:   Regulators ·         Delia Rickard, Deputy Chair, Australian Competition and Consumer Commission and (ACCC) ·         Peter Kell, Deputy Chair, Australian Securities and Investments Commission (ASIC) ·         Andrew Mills, Second Commissioner, Australian Tax Office (ATO)   Keynote Speakers and Workshop Facilitators ·         Holly Ransom, CEO, Emergent ·         Sally Freeman, National Partner In Charge , KPMG ·         Dr Alicia Fortinberry, Principal and Co-Founder, Fortinberry Murray ·         Peter Kenny, Adviser & Regulatory Compliance Manager, AMP NZ ·         Alison Telfer, General Counsel & Head of Compliance, BlackRock ·         Susan Cretan, Director, Integrity, Governance & Risk, Flinders University ·         Carolyn Hanson, Head of FCC & Specialist Advisory Services, Wealth Management, CBA ·         Deborah Latimer, Director, Sector Seven ·         Paul Fitton, Senior Security Consultant, Aurecon ·         Paul Hodge, Guest Lecturer and Corporate Adviser on Data Visualisation   For more information on the 21st Annual GRC2017 Conference, visit the registration page. Information on the Gala Dinner, graduation ceremony and annual awards to follow.   About the GRC Institute The GRC Institute (GRCI)—formerly known as ACI—is the pre-eminent member association, servicing compliance and risk management professionals since 1996. We aim to unify and strengthen the GRC profession to provide a community in which individuals can come together to share knowledge, challenges and ideas on solutions to mould their vision for the future. For more information, visit: http://www.thegrcinstitute.org/   Proudly supported by our Principal Members: Westpac, NAB, ANZ, AMP, Commonwealth Bank, AIA, KPMG, and Thomson Reuters.   ### For more information, please contact: The GRC Institute Naomi Burley +61 2 9290 1788 naomi.burley@thegrcinstitute.org Kwame Slusher +61 2 9290 1788 kwame.slusher@thegrcinstitute.org Kelsey Clark  +61 2 9290 1788 kelsey.clark@thegrcinstitute.org Media Alert: 20th Annual GRC Conference 2016 2016-08-25T03:38:39Z media-alert-20th-annual-grc-conference-2016 Media Alert: 20th Annual GRC Conference 2016 SYDNEY, Australia — August 23, 2016 — The GRC Institute today announced keynote speakers and workshop facilitators for the 20th Annual GRC Conference. The conference brings together governance, risk and compliance professionals, as well as suppliers, in an environment dedicated to the networking and sharing of ideas under one roof. This informative, two-day conference will explore how the role of compliance and risk professionals continues to grow in prominence and strategic influence within organisations. In an increasingly complex regulatory environment, companies are only expanding their risk and compliance teams, giving them a greater voice at the decision-making table. Keynote speakers include representatives from AUSTRAC, discussing the changing AML/CTF environment, GRC Solutions, offering insights into fintech regulatory developments in Asia, and UniSuper, looking at influencing conduct, behaviour and culture. The theme for this year’s conference is ‘How you can create leaders and build influence within your organisation’.  The conference will be looking at the role of GRC professionals and how they can translate compliance issues both laterally and vertically within their respective organisations. “GRC professionals are experienced at building engagement and working to have those in the business start to take ownership of their compliance obligations,” says Naomi Burley, Managing Director, GRC Institute. “The rhetoric, however, is always that this tone needs to really come from the top. This can be a huge challenge for a compliance professional to create, especially if they have no access to the board and lack directors who understand what this means or why it’s important. Having to influence upward is often the reality for many GRC professionals, who need to get their board ‘on-board’ with the message. The question is: how do you actually do this?” Regulators: ·     -    Paul Jevtovic, CEO, Australian Transaction Reports and Analysis Centre ·     -    Timothy Pilgrim, Commissioner, Officer of the Privacy Commissioner ·     -    Scott Gregson, Executive General Manager Enforcement Division, Australian Competition and Consumer Commission Industry Thought Leaders: ·     -    Sam Gibbins, General Manager(Asia), GRC Solutions ·     -    Sean Hughes, Chief Risk and Legal Officer, UniSuper ·     -    Elizabeth Sheedy, Associate Professor, Department of Applied Finance and Actuarial  Studies ·     -    Nicole Grantham, Chief Risk Officer, SAI Global ·     -    Sally Freeman, National Partner, Risk Consulting Services KPMG  -    -    Nisha Graham, Chief Risk Officer, Sydney University ·     -    John Wakefield, Compliance Manager, DBS Bank LTD. Visit the registration page for more information about special discounts for members of the GRC Institute and group passes. Gala Dinner and graduation ceremony to follow. The event is proudly sponsored by: The Safetrac Group, Thomson Reuters, LexisNexis, Compliance Insider, Protecht About the GRC Institute The GRC Institute (GRCI)—formally known as ACI—is the preeminent member association servicing compliance and risk management professionals since 1996. We aim to unify and strengthen the GRC profession to provide a community in which individuals can come together to share knowledge, challenges and ideas on solutions to mould their vision for the future. For more information, visit: http://www.thegrcinstitute.org/ Proudly supported by our Principal Members: Westpac, NAB, ANZ, AMP, Commonwealth Bank, AIA, KPMG, and Thomson Reuters. ### For more information, please contact: The GRC Institute Naomi Burley +61 2 9290 1788 naomi.burley@thegrcinstitute.org Elizabeth Kent +61 2 9290 1788 elizabeth.kent@thegrcinstitute.org Media Alert: AML and Financial Crimes Congress 2016 2016-04-21T23:37:24Z media-alert-aml-and-financial-crimes-congress-2016 SYDNEY, Australia – April 22, 2016 – The GRC Institute today announced registration will be closing soon for the 2nd AML and Financial Crimes Congress 2016 sponsored by Thomson Reuters at the Sofitel Sydney Wentworth Hotel on April 28, 2016. This year’s congress is covering the breadth of the financial crimes landscape; featuring keynotes from industry leaders highlighting the emerging trends, best practices and developments in anti-money laundering and financial crime. “Financial crime is becoming an increasingly complex and sophisticated activity, involving multiple fronts and threats. Those intent on engaging in fraud, corruption, money laundering and other illegal activities are actively targeting financial institutions with weaknesses in their AML and FC frameworks as conduits for their activities. In addition to these inherent risks there are heavy penalties for any inadvertent involvement,” said Naomi Burley, Managing Director, GRC Institute. “With organisation’s facing greater risks and challenges to achieving and maintaining compliance, the congress will provide valuable guidance and insight for practitioners into how they can implement or improve standards to combat financial crime,” said Burley. Keynote Speakers ·       -  Niall Coburn, Regulatory Intelligence Expert for the Asia Pacific region, Thomson Reuters ·        - Brian Stewart, Australian Transaction Reports and Analysis Centre (AUSTRAC) ·        - Terri Clementson, Director, Financial Crime Strategy, Forensic and Risk Advisory, Deloitte ·        - Dr Nicola McGarrity, Lecturer, Faculty of Law, The University of NSW ·        - Jeremy Sandbrook, CEO Integritas360 ·        - Alexander Graham, Director, KPMG ·        - Karen Nitschke, Head of Global AML Compliance, ANZ Banking Group Ltd To secure your place or for more information about the special discounts for members of the GRC Institute, please visit: http://www.compliance.org.au/events/eventdetail/1497. Congress reception networking drinks to follow. About The GRC Institute The GRC Institute (GRCI) formally known as ACI is the national industry body servicing compliance and risk management professionals since 1996. GRCI represents and provides professional support and recognition to over 2,000 practitioners across Asia Pacific and more than 100 organisations from a diverse range of industry sectors. For more information, visit www.thegrcinstitute.org. ### For more information, please contact: The GRC Institute Naomi Burley naomi.burley@thegrcinstitute.org Elizabeth Kent 02 8245 0706 elizabeth.kent@thegrcinstitute.org