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Risk Management Insights

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29/12/2015 / Enterprise Risk Management, Risk Culture

Risk Management's Coming of Age?

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 function that we at Protecht believe it should be. Looking back, 2015 has been a defining year for Protecht and the wider risk management community.  

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09/12/2015 / Risk Culture, Risk Management, Risk Controls

Risk Management Controls in Tough Mudder


See the Slideshare and find the pictures of Protecht team members in Action

Tough Mudder is an endurance event series in which participants attempt 16–19 km military-style obstacle courses that test mental as well as physical strength. The obstacles often play on common human fears, such as fire, water, electricity and heights. 

The main principle of the Tough Mudder revolves around teamwork. The Tough Mudder organisation values camaraderie throughout the course, designing obstacles that encourage group participation. The first event was held in 2010 and to date, more that 2 million people worldwide have participated.

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18/11/2015 / Risk Culture, Risk Management, risk appetite, Risk and Control Self Assessment, Performance Management

How to Balance Risk and Reward in your organisation?

Finding the Optimal Balance to make better decisions

Organisations, or more precisely, the employees of organisations, make hundreds, if not thousands of decisions a day.  Some are major, such as deciding on strategy or whether to purchase a new system while many are small, such as whether to take the stairs or elevator or where to place your coffee on your work desk.

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05/11/2015 / Protecht News & Events, Risk Culture, Risk Management

Active Presence in Risk Management Events

Protecht Supporting Industry Associations

The conference season is upon us and once again Protecht has shown its support of the risk and compliance profession through its participation at key industry association events in Australia, such as COBA, GRCI and RMIA Conferences. 

Our first event of the season was the Customer Owned Banking Association (COBA) Conference held in Darwin in mid-September. Protecht has had a long connection with the mutual banking sector, with a large number of COBA member organisations and their Boards being trained by David Tattam and many member credit unions and mutual banks using Protecht.ERM, Protecht.ALM and Protecht.CCRM for their enterprise, market and commercial credit risk management needs.

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27/10/2015 / Enterprise Risk Management, Risk Culture, Risk Management

The Road to Enterprise Risk Management Maturity

FOUR things to carefully consider during your journey to ERM maturity

The yellow brick road led to the Emerald City. The enterprise risk management (ERM) Emerald City is the risk management maturity we are all looking for, but most of us do not know where it is exactly and even what it looks like. We do, however, have an idea.  In a number of five step maturity models, the 5th and final stage is often called “Optimised”. What does this look like?

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21/10/2015 / Enterprise Risk Management, Risk Culture, Risk Management

How to Achieve your Risk Management Goals

TEN KEYS to Risk Management Success 

Having worked with many clients over the years in implementing, maintaining and developing their risk management systems you learn what works and, on the other hand, what does not.

The following are my top TEN KEYS to success – get these right and you will have a risk management function that is seen as critical as any other management function in the value it adds.

1. Keep it Simple

With any developing discipline, there is a tendency to invent new words and use big words that sound smart but no one understands. Risk management is no exception with a myriad of fancy words and acronyms. 

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24/09/2015 / Enterprise Risk Management, Risk Culture, Risk Analytics

A Real Life Risk Story…

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 how to identify a risk. While ISO 31000:2009 is a great starting point in answering these questions, I have found that the use of a story is often the best approach in helping non risk managers understand risk management. This understanding should then lead to better organisational performance.

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22/05/2015 / Risk Culture, Risk Management, Commercial Credit Risk Management

Business Intelligence for Commercial Credit Risk Management

Good practice in credit risk management is to turn periodic core banking data (eg. portfolio balance vs arrears) into meaningful information for ongoing portfolio monitoring and loan loss analysis. The process of transforming raw data into meaningful information to support business decisions is denoted by the term ‘Business Intelligence’ (BI). This can provide banks and other commercial lenders with better visibility and management of credit risk across commercial credit portfolios.

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04/02/2015 / Risk Culture

Using Culture Change to Support Effective Risk and Compliance

The tightening of risk and compliance legislation and the need for more effective risk management guidelines and implementation are some of the more prominent challenges currently facing organizations. In response, many firms are redefining their approach to risk and compliance, moving away from traditional models that focus on processes and procedures to models that feature risk culture. 

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07/11/2014 / Risk Culture

The 6 key elements to creating and maintaining a good risk culture

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 be successful in anything they do, must have a desire to do it. This breeds passion which drives people to excel.  Getting the right culture to support risk management across your business is the most important ingredient for success.  So what does the right “risk culture” mean and how do we create and maintain it?

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