On the 19th February 2020, AGSM@UNSW Business School, in collaboration with My Career Lab, co-hosted the inaugural Operational Risk Management in Financial Services Breakfast Seminar.

This provided an opportunity for FS Industry Risk leaders and aspiring risk professionals to connect and hear from a panel of thought leaders on the business of risk and building strategic risk capability.

The session was opened by Sharon Collins, MD of My Career Lab, with the panel moderated by Magnus Gittins, Director of Executive Education at AGSM and comprised of:

Some of the key themes discussed included:

  • Getting the right balance of financial and non-financial risks
  • The importance of a customer-centric approach to risk
  • Giving the Board a transparent view
  • The shift in thinking post Royal Commission
  • A need for more automation of tasks to support risk practitioners (but not at the cost of the human element required in monitoring)
  • Skills required for the modern risk professionals
  • Risk management when done well is exciting and strategic, you don’t want the process to take over the thinking

In summary, done well, risk management is a value creator for organisations, however new approaches and skill sets are required to ensure successful outcomes. It has never been more critical to anticipate new risks, threats and identify opportunities that will inform future practice.

On completion of the panel discussion, the AGSM announced the launch their new short-course: ‘The future of Operational Risk Management’ in May 2020 as well as the 5-day work-integrated Operational Risk re-skilling program delivered in partnership with My Career Lab.

This program has been co-designed through collaboration with Risk practitioners from major Australian Financial Services organisations and aims to provide risk professionals with insights into emerging trends, new ways of thinking and learnings from best and worst practice from around the world.

For more information on these programs please contact [email protected]