Global speciality insurer Chaucer Group has committed to net-zero greenhouse gas emissions by 2050. The insurer and reinsurer is among a growing ...
A few months ago, UK lender Barclays Bank announced that it had discovered a compliance breach from 2019 in its US operations. The bank sells ...
Google is the latest tech giant to be fined for violations of GDPR provisions. The €10 mn (US$11 mn, AU$15mn) fine was issued by the Spanish data ...
In our recent webinar Risk Art Class - Visualize your risk with bow tie analysis, we were asked an interesting question: "How do you ensure that ...
According to a recent survey of over 1000 Chief Information Officers by identity management provider Venafi, 82% believe their organisation is ...
The traditional siloed view of risk management has evolved over many years of its development as a discipline, but there is increasing pressure to ...
The global insurance industry has been impacted heavily by COVID and extreme weather events. Insurers worldwide have had to respond and adapt to such ...
In this blog article, you will find the webinar recording of the session on Operational Resilience delivered by David Tattam, Chief Research and ...
Investment in compliance management continues to grow exponentially. In Macquarie Group’s latest financial results, compliance spend amounted to 17% ...
Protecht recently conducted a webinar on “Risk Appetite: Development and Operationalisation” covering our North American, EMEA and APAC markets. A ...
Macquarie Group has disclosed in its latest financial results that the group spent $785 million on compliance in the year to 31 March 2022, a 22% ...
What is Marketplace? Marketplace makes it easy to implement and scale Protecht.ERM. It provides templated registers, workflows and analytics ...
London-based financial services firm Impax Asset Management administers a suite of equity, fixed income and private equity investments. The company ...
Freeway UK Insurance Services Limited, a leading provider of taxi insurance across the UK market, engaged Protecht to deliver a holistic risk ...
"Would you rather?" is a party game that poses dilemmas by asking questions starting with "would you rather?". As an example:
Establishing an ERM system can be as daunting as building a house from the ground up. There are hundreds of decisions to be made that will affect how ...
The management of an organization's risks on a true enterprise basis should be the aim of contemporary risk management. Enterprise Risk Management ...
Taking Risk Management to the next level The APRA report of the prudential inquiry in the Commonwealth Bank of Australia (CBA) was issued on 1 May ...
Do you know what the Modern Slavery Act is and how it will impact your business? We had the opportunity to have Associate Professor Justine Nolan ...
It’s clear that today’s operating environment is changing at a very rapid pace, which means the risks are evolving fast, too. In this blog, we ...
The drivers of operational resilience are creating a perfect storm. On one hand, the financial services regulators are demanding action while on the ...
The World Economic Forum has estimated that “Fighting COVID-19 could cost 500 times as much as pandemic prevention measures”[1]. This means that an ...
Melbourne Polytechnic’s risk reporting was labour intensive and data was scattered across various platforms, making it difficult to access and ...
The British Council exams program lacked up to date solutions for managing exams audit, incident management, and associated processes. Implementing ...
Risk Bow Tie Analysis is a powerful tool to document and communicate any type of risk. At Protecht we have always been passionate about the Bow Tie ...
The dress Bow Tie originates from the 17th century. Croatian mercenaries held their shirts together around the neck using tied scarfs during the ...
The list of key risks that should be keeping us awake at night seems to be forever changing. Whatever your list, Culture and Conduct Risk should be a ...
We want to thank Adel Fakhreddine for answering the questions and also to all the participants around the world for being really proactive and ...
In this blog, David Tattam summarises his insights from the tenth live session "From Static to Dynamic WHS Risk Reporting" in the webinar series "A ...
The IIA-Australia's guide is a timely reminder of the need for continued focus on risk culture. Although the guide is focused on Financial Services, ...
Protecht’s eleven part complimentary webinar series focusing on a comprehensive deep dive into Workplace Health and Safety (WHS), kicked off on 23 ...
In this blog, David Tattam summarised his insights of the second live session "A Risk Management Framework for WHS" in the webinar series "A Deep ...
In this blog, David Tattam summarised his insights of the fourth live session "Risk and Hazard Assessment" in the webinar series "A Deep Dive into ...
In this blog, David Tattam summarised his insights of the second live session "Understanding WHS Treatment Methods and Controls" in the webinar ...
In this blog, David Tattam summarised his insights from the seventh live session "WHS Incident Management " in the webinar series "A Deep Dive into ...
Protecht’s eleven part complimentary webinar series focusing on a comprehensive deep dive into Workplace Health and Safety (WHS), kicked off on 23 ...
In this blog, David Tattam summarised his insights of the fifth live session "Identifying, Tracking, Monitoring, and Reporting WHS Risk Metrics" in ...
Craig Greenwood, Former Toyota Financial Services Chief Compliance Officer, and his team wanted to continue using established business procedures but ...
Over the past ten years, consumer banking behaviours have significantly changed. Today, the majority of customers engage banks via digital channels. ...
A futurist’s role is to help shape the future of something (risk management) in order to make it more relevant and valuable based on: Its known ...
Over 800 risk professionals joined Richard Waterer, Managing Director EMEA for Aon, and David Tattam, Director of Research and Training from The ...
Protecht’s eleven-part complimentary webinar series focusing on a comprehensive and deep dive into workplace health and safety, kicked off on 23 July ...
During our live webinar session on How COVID-19 learnings will shape the New Normal of Risk Management, our participants asked questions covering ...
This interview was featured in the Forge Magazine. You can access the full publication here. Too many organisations view risk management as a ...
What does ERM mean? Enterprise Risk Management (ERM) is becoming increasingly accepted as an integral part of business management processes within ...
The sharing of experiences at any time of life is an enriching and valuable experience. In times of crisis, experience sharing is gold. A key factor ...
One of the early observations we have made from the COVID-19 crisis experience to date relates to the operations of the war room and the crisis ...
In a recent post by Warren Black, he stated: "Clearly, organisational resilience in the face of disruption, is not about bouncing back but rather ...
Compliance at the best of times is often met with sighs and feelings of burden and “we need to do it because we’ve been told to” attitude. In a ...
Now that the Pandemic risk has “hatched” and we are operating in the midst of its development, it has produced a substantially changed risk profile ...
You can find here the list of questions and answers to the topics that were raised during the live session of the webinar: How to easily measure your ...
You can find here the list of questions and answers to the topics that were raised during the live session of the webinar: Best Practices to measure ...
Risk Culture is the system of values and behaviours in an organisation that guides all risk-related decisions. We believe that getting the right ...
Here are some audit committee questions you can ask to check the adequacy of internal resources: Organisation requirements 1. Does the internal audit ...
I have hope. Hope that my children (14 and 12) and their fellow Gen Zs and Gen Alphas will fix us. We are well on the way – the #MeToo movement and ...
As a business seeking to maximise your return on employee investment, there’s hardly a better choice than to educate staff at all levels with risk ...
If you're reading this article, it's likely that you're facing one of these two scenarios: You are a risk manager looking for risk management ...
At the end of last year I had the opportunity to do a workshop at the Annual Risk Leaders Conference organised by the Institute of Risk Management ...
Our health and safety incident management software, Protecht.ERM, will help your organisation to minimise loss and disruption to your operations due ...
Protecht.ERM is trusted by countless enterprises across dozens of different industries to deliver their ERM capability. Financial organisations that ...
This interview was featured in the Risk Management Survey special supplement by the Institute of Risk Management in London. You can access the full ...
The latest focus in risk management seems to be "Non-Financial Risk". Search for "Non-Financial Risk" on Google and you will be returned everything ...
Awesome Controls Assurance: The Confidence to Go Faster This event was done live on Oct.22nd 2019. Access the recording here. “The greatest potential ...
Enterprise Risk Management = Integrated Risk Management in Protecht.ERM This event was done live on 10 September 2019. Access the recording here. In ...
What is Internal Audit? "Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an ...
This is part 4 of our video series on "Disparate and Disconnected Risk Processes and Information". In this video, David Tattam talks about key risk ...
This is part 4 of our video series on "Difficulties in Engaging Staff in Risk Management". David Tattam provides an example of how you can explain ...
Making sense of deploying and using great risk metrics This event was done live on 14th August 2019. "If you can’t measure it, you can’t manage / ...
Risk is always in motion - its measurement is forever changing. In this webinar, David Tattam and David Bergmark talk about how using dynamic ...
This is part 2 of our video series on "Difficulties in Engaging Staff in Risk Management". David Tattam provides an example of how you can make risk ...
This is part 1 of our video series on "Difficulties in Engaging Staff in Risk Management". In this video, David Tattam talks about why it's difficult ...
This is part 3 of our video series on "Difficulties in Engaging Staff in Risk Management". This video covers how you can use a personal experience, ...
This is part 3 of our video series on "Disparate and Disconnected Risk Processes and Information". In this video, David Tattam talks about the eight ...
Designing and deploying first rate risk and control taxonomies This webinar was done live on 16th May 2019. What you will learn in this webinar: ...
Inherent, Residual and Targeted Risk: What Risk Professionals Need to Know This event was done live on Wednesday 19th June 2019. What you will learn ...
How do you encourage your staff to embrace risk and controls? In this recording, David Tattam talks about how understanding the dynamics and ...
This is part 2 of our video series on "Disparate and Disconnected Risk Processes and Information". In this video, David Tattam talks about what makes ...
This is part 1 of our video series on "Disparate and Disconnected Risk Processes and Information". In this video, David Tattam talks about the key ...
As a result of the Royal Commission, more non-banks must now implement BEAR. This post covers how your organisation should view this as an ...
How do you build and improve resilience in your organisation? In this recording, David Tattam talks about how understanding the dynamics and ...
“Protecht has given us a system that allows us to quantify risk across the full spectrum of the game,” said Luke Sullivan, National Rugby League’s ...
The Internal Audit function has always been an integral part of any organisation, giving independent comfort to stakeholders that the governance and ...
Guest Blog by Shannon Harris, Senior Research Executive, Center for Financial Professionals The Protecht Group will be exhibiting at the New ...
You might be forgiven for thinking that those who provide Risk Management software must be cautious and plan out their product and their activities ...
In this video, Matthew Lee talks about how Protecht.ERM's historical models provide users with a better view of their enterprise risk management data.
How do we make decisions based on risk reward when the risk information is out of date? Traditional point-in-time reporting in risk management can ...
Protecht's People & Culture Manager, Cassie Thomson, talks to the Chief Technology Officer, Peter Walker about how the development team adopted ...
In this video, David Tattam breaks down the questions you should be asking to better integrate risk management in your organisation's decision making.
Connecting the dots (in this case, the risks). It has been a bit of a journey over the last 15 years. At Protecht, we started with the vision of a ...
The Second Line of Defence Launchpad within the Protecht.ERM system is an effective and interactive visualisation designed specifically for the Line ...
Compliance is the act of “conforming to rules”. Deciding to, or not to, conform to rules affects the decisions we make. Compliance is therefore an ...
In my earlier blog “What we can all learn from the APRA prudential inquiry report into the CBA” I noted that one of the strong themes of the report ...
What does it take to be a risk manager? I am often asked “what are the key requirements that make a good risk manager?” My first response is “to be ...
Effective risk management requires governance structures and processes commensurate with the organisation’s context. Regardless of the organisation’s ...
The financial services industry is under the microscope in Australia with the Royal Commission in full swing, and the recent APRA (Australian ...
Enterprise Risk Management (ERM) software manages the processes and the risk related data that drive risk behaviour, including Risks, Controls, ...
Today, corporations and government agencies are facing an unprecedented wave of regulatory obligations and increased penalties for non-compliance. ...
Three key treasures of good risk management The future of “Risk Management” would look brighter if we removed the word “Risk”. It is just ...
Making Enterprise Risk Management Personal They say charity starts at home – so does Enterprise Risk Management (ERM). We can learn a lot from what ...
In a recent discussion with a colleague on preparing for 'black swan' events, we concluded that regardless of the size, type and structure of an ...
This article is written with all the Risk and Compliance professionals like you in mind. Are you a junior, an analyst or a Chief Risk Officer? Your ...
In previous articles, we have talked about the increasing importance that data collection and data management have in business strategy. On this ...
David Tattam, Executive Director and Founder of Protecht, was recently interviewed by Marcelo Concha, owner of REO Recruitment on the need have risk ...
In February this year, I ran a blog highlighting the power of the human brain and its senses in acting as a personal key risk indicator (KRI) system ...
Gorillas and Bears – Comply or Die! The story of Harambe, the Cincinnati Zoo’s much-loved Gorilla, went global in its interest. A defenceless animal ...
Jodie Thomas, ATO Executive Director, shares specific improvements to the Risk and Compliance processes within the entity, after implementing our GRC ...
Organisations, or more precisely, the employees of organisations, make hundreds, if not thousands of decisions a day. Some are major, such as ...
This article was written by Vicki Wilder , Board Director, Governance Professional. Edith Cowan University. We are sharing it with the Protecht Risk ...
Looking back over the last 12 months, corporate scandals continue with the finance industry seemingly always managing to make the headlines. Wells ...
The setting of an organisation's risk ‘appetite' is a critical component of a robust risk management framework. This article addresses: What does ...
There are many well used, almost clichéd phrases in the English language that contain powerful messages for the risk manager. Some that come to mind ...
Protecht.ERM™, Version 8.0. The addition of conditional rule functionality in Version 8.0 significantly enhances the end user experience without the ...
At Protecht, we get to see a lot of risk event libraries. There continues to be some confusion as to what is actually a risk event that is worthy of ...
What is Human Error? Risk events often have many contributing causes, a common one being ‘human error’. But what is human error and can it be ...
I recently read an article in the @TheEconomist (April 8 edition) entitled The Myth of Cyber Security, a somewhat depressing article on the poor ...
Writing blogs in risk management is risky. It has a potential upside and a downside. On the upside, the hope is that the blog adds to the ...
What does Inherent Risk mean? There are few common definitions in risk but Inherent Risk is commonly defined as "the risk without considering ...
The case for setting both an Inherent and Residual Risk Appetite In the last two blogs, Inherent Risk - It is useful? and Expected and Targeted ...
10 KEYS to Risk Management Success Having worked with many clients over the years in implementing, maintaining and developing their risk management ...
Are they useful? Residual risk, the risk after considering existing controls, is universally accepted as important to assess in the risk assessment ...
It is already February 2017. The year certainly feels like it is flying by. We are glad to see that our Risk Management Insights Blog continues to be ...
The ISO 31000:2009 standard does not refer to “inherent” risk. Is this a deliberate omission and if so, what is the reason? This leads to the ...
You can take a horse to water but you cannot make it drink. You can take risk management to your business but you cannot make them do it. People, to ...
The first issue to consider is how the level of residual risk is assessed taking into account the scoring of inherent risk and the level of control ...
Three Key Questions Have you ever tried having a conversation with a risk practitioner about risk management concepts without using the word ‘risk’? ...
Do you normally have to wait for your vendor or IT development team to build your GRC information capture, processing and reporting? In this free ...
As we approach the end of the calendar year, businesses grapple with the issue of giving and receiving gifts and entertainment to and from suppliers, ...
Many organisations that have implemented risk management systems – be they for compliance management, incident management, health and safety ...
5 factors of success I was thinking about the characteristics of companies that make the decision to acquire and then successfully implement an ...
Controls assurance is a critical component of any robust risk management framework, providing an organisation with: Objective evidence that controls ...
What is Compliance? Compliance Framework – Other components: Attestations, Breach Registers, Culture In a previous article we wrote about the Key ...
Controls to assist us managing risk have been around for thousands of years. Why – because risk has been around since the beginning of time. Our ...
What is the definition of Compliance? Compliance is an outcome of conforming to a rule. That rule may arise from an external source such as a law or ...
Is your compliance team tired of maintaining compliance and obligations registers in spreadsheets? Are they tired of trawling through email alerts ...
The importance of risk management training Your people's perception, attitude, risk culture, engagement, behaviour and actions, with respect to risk ...
NOT SUCH A TAXING TIME Some months ago Protecht was delighted that Protecht.ERM was selected by the ATO as the ATO’s corporate-wide risk and ...
During this month we have been talking about Risk Management and Risk Appetite. NSW Business Chamber also interviewed Our CEO Alf Esteban on the ...
AXA Investment Uses Protecht.ERM for Compliance and Attestations to Mitigate Risk and Improve Performance Fund Manager, Eureka Funds Management ...
The concept of risk appetite has been around for a number of years now and many organisations have developed a form of risk appetite as part of their ...
There is an increasing need for companies to focus on how risk management can create opportunities, meet corporate strategic objectives and help ...
Finding the right Treasury Management System that would fit an organisation’s system is a difficult one. Most organisations are finding it very ...
Bow Ties usually conjure up a vision of a formal event, to be used infrequently for special occasions. For risk bow ties, nothing could be further ...
Maintenance and improvement of credit risk management practices by banks and lenders have become a top priority. Let us share with you some tips to ...
This is the fourth article in the series of “Learning from yourself as an expert already”. The first blog addressed Key Risk Indicators (KRI) and ...
This is the third blog in our Operational Risk Management series. In the first article, I explained the incredible KRI system we all have via our ...
This post is part of our series Operational Risk Management – Learning from yourself as an expert already! My last blog highlighted the extensive use ...
Changing the value of risk management in the Australian Property Sector. This free webinar provides guidance, tips and techniques on how to convert ...
Protecht would like to thank those who attended the Thought Leadership Risk Management Technical Lunch held in April 2013. The thought-provoking ...
Protecht is a leading provider of Risk Management software. If you are interested in a cost effective Treasury Management System, then take a look at ...
Operational Risk Management and the wider defined Enterprise Risk Management are often touted as a new concept. While the methodologies and ...
In this blog post, Peter Walker, Protecht's Chief Information Officer, answers some questions around information security and getting ISO 27001 ...
Happy New Year! 2016 has arrived and at Protecht we wish to take the opportunity to go back in time and share our most popular blogposts from 2015. ...
As 2015 comes to a close, it is a good time to observe how risk management has continued to mature and grow towards the fully legitimised business ...
WHAT TO HAVE IN MIND? The move towards cloud computing is exciting for many businesses. Not only are they able to realise cost savings through lesser ...
A common issue that arises when implementing an enterprise risk management (ERM) framework is “who owns, is responsible for, is accountable for risks ...
Finding the Optimal Balance to make better decisions Organisations, or more precisely, the employees of organisations, make hundreds, if not ...
A REAL LIFE APPROACH Risk management is a continuous journey. In our personal lives we instinctively make risk based decisions according to our own ...
FOUR things to carefully consider during your journey to ERM maturity The yellow brick road led to the Emerald City. The enterprise risk management ...
Maturity is “the state or quality of being fully grown or developed.” Transformation means “a marked change, as in appearance or character, usually ...
6 Key Questions to Define Risk Control In last week's blog, I discussed the basic but often confused issue, of describing operational risks in a ...
Defining Operational Risks is not as easy as it looks One of the most basic steps in any risk management process is to define your operational ...
This happened in the Protecht Neighbourhood I have read many posts recently where questions were asked about how to define a risk, and other about ...
Having an (ERM) has become a MUST Enterprise Risk Management has become a must for all organisations, regardless of size, complexity and industry ...
Good practice in credit risk management is to turn periodic core banking data (eg. portfolio balance vs arrears) into meaningful information for ...
Changing the Value of Risk Management in the Australian Property Sector “No risks here, leave us alone, say property industry leaders” (AFR, 27th ...
For those that adopt inherent risk in their risk assessment process, there is general recognition that inherent and residual risk are connected in ...
The primary purpose of risk management is to create and preserve value. Rather than it being a chore or a regulatory demand, risk management should ...
The current strict hedge accounting rules laid out in AASB 139 Financial Instruments: Recognition and Measurement are being replaced by much more ...
Risk and Control Self Assessment (RCSA) has become a cornerstone of current Enterprise Risk Management, yet the quality of assessments differ greatly ...
The discipline of Enterprise Risk Management (ERM) is developing rapidly. The industry is awash with consultants, software providers and trainers ...
What is enterprise-wide risk management? Currently, Australian companies exhibit varying levels of ‘risk management maturity’ ranging from: ...
As Albert Einstein said “If you can't explain it simply, you don't understand it well enough”… Interest rate risk measurement typically has a number ...
Operational risk is commonly defined as “the risk of loss from failed or inadequate processes, people or systems or from external events”. These four ...
A potential client once said to me “Do you know what the problem is with you risk managers?” He followed with “all you seem to tell us business ...
Using Donald Rumsfeld’s famous quote “There are known knowns. These are things we know that we know. There are known unknowns. That is to say, there ...
The tightening of risk and compliance legislation and the need for more effective risk management guidelines and implementation are some of the ...
How does technology help in Compliance? Once viewed as a luxury, the use of technology for compliance management within the financial services ...
There has been, for many years, an ongoing debate as to the relationship between Compliance Management and Risk Management. Some have believed they ...
Transformation can be defined as “a marked change, as in appearance or character, usually for the better”. Risk management transformation is the ...
Australian businesses and organisations are currently facing an unprecedented confluence of five major risk factors — including surging regulation ...
One of the biggest obstacles for organisations is understanding where critical data resides and how it is currently protected. Apart from the ...
We hear many times that this is the information age and that data is the new gold. The “Big Data” trend encapsulates this and focuses our minds on ...
