Our approach to non-financial risks leverages our teams’ regulatory and industry experience. This includes framework design, independent review and challenge, thought leadership and support for building internal capability.
Risk Transformation and Risk Governance
Advice and support to develop and transform risk management strategies, risk frameworks, policies and practices
- Three lines of defence – providing transformation advice, reviews and assessments, to truly embed three lines of defence models. This supports firms in ensuring risk management practices are embedded and operating effectively across all lines of business.
- Governance, culture and accountability self-assessment – to support our clients undertaking self-assessments of governance, culture and accountability, having regard to APRA’s Prudential Inquiry into CBA. This allows our clients to demonstrate depth, insight and real challenge.
- Risk appetite – reviews, design and advice on risk appetite metrics and statements, facilitating workshops with executives and boards and support in extending this to front-line business units to guide decision-making.
- Risk management frameworks – reviews, design and implementation of core components of risk management frameworks, including senior leader engagement and supporting internal capability builds.
- Strategic risk advisory – advice, design and reviews, connecting insights across risk types and practices to position businesses to respond to emerging risks. This includes road map design to plan – and deliver – innovative change in risk management practices that is adaptable, reliable and resilient.
Culture and conduct
Advice and support to promote deeper understanding of culture and the way it influences risk management and business outcomes, providing a reliable basis for sustainable business evolution and performance
- Framework design – in partnership with clients, we develop and help implement frameworks to support the ongoing management of behavioural and cultural risk and its integration within broader risk management frameworks.
- Workshops and advice – to help firms broaden and deepen their understanding of culture and its impact on customer, risk and business outcomes.
- Review and assessment – to provide independent insights on key cultural characteristics that influence the way risks are managed across firms within business units and at the firm-wide level.
BEAR / FAR
Advice and support in meeting accountability obligations and embedding these in the way firms operate
- Framework design and implementation – to identify accountable persons and preparing and reviewing accountability statements and maps, policies and procedures.
- Communication and stakeholder engagement – to build senior executive and board understanding of accountabilities, responsibilities and operationalising accountability regimes.
- Scenario analysis workshops – developed to test the design of accountabilities under scenarios that are relevant to business mix, operations and structure.
- Effectiveness reviews – to assess how accountability works in practice at different levels within firms as a key pillar in reasonable steps methodologies.