Rhizome provides independent review and assurance services covering financial and non-financial risks, compliance management, risk culture, regulatory, and corporate governance by leveraging our risk and resilience, behavioural risk, and regulatory specialist capabilities and experience to provide deep insights and pragmatic solutions and recommendations.

Rhizome has a proven track record of undertaking independent reviews required by APRA in its various prudential standards. Engaging Rhizome conveys additional credibility given our extensive experience and understanding of regulatory requirements and APRA’s expectations for effective risk management. Our engagements are staffed solely with senior experienced risk management experts (i.e. we do not use junior staff or audit staff with limited experience).

How we work with your Internal Audit and Risk functions

Rhizome can work with internal audit and risk management functions to supplement existing expert capabilities via a co-sourcing arrangement. The reviews we perform are either:

  • client-led under the direction of the client using their methodologies and assurance programs; or
  • independent assurance audits or reviews using Rhizome’s methodologies and review programs delivering a Rhizome-branded independent report.

Expert capability in independent reviews, assurance and advice

  • CPS 220 and SPS 220 Comprehensive risk management framework reviews
  • Three lines of defence design and operational effectiveness and risk governance
  • Credit portfolio and end-to-end lending, including hardship and problem loan management
  • Credit process and credit risk grading model
  • Model risk management
  • Capital adequacy and liquidity managment
  • Risk culture
  • Incident management and reporting
  • Root cause analysis, including of prudential breaches
  • Other independent reviews and assurance – tripartite and other independent reviews commissioned to meet regulatory requirements or as the appointed independent reviewer of Integrated Remediation Plans