• Building resilience through risk culture.

  • Empowering our clients to improve performance.

Risks Of Poor Decisions Through Use Of AI

If your organisation has any interest in AI then this book is essential reading – Rage Inside the Machine* is about the prejudice/bias built into algorithms which can lead to poor business decisions. An every-day example of algorithm bias occurs when 2 people search for the same information using Google. Their individual pre-existing browsing history […]

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LOW TRUST IN WHISTLEBLOWER PROTECTION

By now it’s common knowledge that from 1 January 2020 public companies, large private proprietary companies, corporate trustees of superannuation funds and some not-for-profits in Australia will be required by law to have a whistleblower policy. This has improved legal protection for whistleblowers but it will take more than changes to the law for people […]

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RISK CULTURE, CONDUCT RISK AND ORGANISATIONAL CULTURE –SAME OR DIFFERENT?

The purpose of this paper is to offer some observations on organisational culture, risk culture and conduct risk and hopefully to encourage reflection on the differences and similarities between these three aspects of culture in organisations. This is not a piece of academic research but results from our practical experience at DMC in helping clients […]

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RISK MANAGEMENT DISTRACTS ATTENTION FROM THE REAL WORK!

Since 2008 we have been helping organisations to strengthen their Risk Culture.  Mostly this starts with inviting every staff member/employee to complete our online Risk Culture Assessment.  This is an in depth exploration of attitudes to the management of risk. One section of the assessment asks respondents to choose one of four options that they […]

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Was Aristotle a Risk Manager?

Catching up on my summer reading over the break, I was intrigued by Edith Hall’s book, Aristotle’s Way*.  What really grabbed my attention was Hall’s description of Aristotle’s process or rules for deliberation, which strongly resembled decision-making with risk in mind. Over 2000 years ago he set down a series of rules on how to […]

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Positive risk culture – what a joke!

The tumbril collecting wrongdoers for transport to the guillotine looks like being very busy as the Royal Commission into banking rolls on in Australia.  So far we’ve heard about deceiving regulators, charging fees to dead customers, interfering with “independent reports”, covering up bad conduct by financial advisers and so on.   The shock is how […]

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Who can fire your Chief Risk Officer?

The answer to this question about who can fire your Chief Risk Officer (or most senior risk manager) has serious implications for risk management in your organisation. Imagine this – your Chief Risk Officer (CRO) discovers a serious breach of policy that leaves the organisation exposed to significant risks. She reports this to her boss […]

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Whistleblower protection limps on!

  The Australian Financial Services Minister Kelly O’Dwyer was reported in the Melbourne Age on 23rd of June 2017 announcing that the government wants to tighten legislation to give compensation and protection of anonymity to people who blow the whistle on corporate corruption or unethical behaviour. Government legislation and enforcement is essential but seems to […]

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$36bn Tax Scandal & whistleblowers.

The BBC has reported on a breaking tax scandal in Germany with global implications that makes the current Australian Tax Office investigation into a $165m fraud look like small beer. “An international group of bankers, lawyers and stockbrokers – reportedly with links to the City of London – appears to have fiddled the tax system, […]

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To Build Risk Culture Change Behaviours

At the Risk Culture workshops we ran recently in Singapore delegates were keen to hear about practical examples of culture change.  We want to share some ideas here about how one organisation made an enormous cultural change.  You might find this helpful as you think about Risk Culture in your own organisation. It’s not simple […]

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