2020 has significantly changed our world. In responding to crisis, the way businesses operate will have to rapidly adapt through what will be a period of sustained disruption. Continued volatility will be a defining feature of the “new normal”.
As businesses adapt, their cultures – “the ways people do things around here” – are also evolving which introduces new wave of cultural risks. While some culture changes will be deliberate, others will be unintentional which can have unpredictable impact on required risk, compliance and conduct-related outcomes. While some organisations have paused risk culture initiatives, others are quickly learning that available risk culture information is not helping to identify where new culture risks may be emerging.
Cultivate a Sustainable & Adaptable Risk-Intelligent Culture Today
Join this interactive and insightful 3-day live webinar led by Grant MacKinnon, a Risk Culture Specialist, on the types of information needed to form a reliable view of risk culture, how it is reported and how actions are defined and their impact evidenced. Assess why a focus on culture now is critically important in the context of the current pandemic. Examine how cultures are changing and the nature of new culture risks that may have emerged. Analyse different risk culture approaches to formulate insightful actions. Evaluate the strengths and limitations of various assessment techniques. Takeaway successful implemented approaches to understand risk culture. Examine how risk, compliance, internal audit and HR divisions can work together to build and embed a sound risk culture.
Evaluating the Robustness and Impact of Different Risk Culture Approaches
Implications of rapidly changing risk cultures, challenges to risk culture
Interpreting Culture Information and Formulating Actions
In-depth analysis of case studies reports from different risk culture approaches
Adopting Practical Risk Culture Techniques
• Surveys: Design, participation sampling, administration and interpretation
• Focus groups: Design, facilitation
• Formal Systems evaluation
• Hypothesis-based interviews: Defining hypothesis, leading interviews and reporting
Strengthening Risk Culture Across Organisation
Best practices on successful implementation, roles and responsibilities across divisions
Benefits of Attending
- Examine how rapidly changing cultures could impact risk, compliance and conduct-created outcomes
- Interpret data from example report extracts on varying risk culture approach and make conclusion
- Define the types of actions that would be most impactful based on the data available
- Uncover limitations of different approaches and consider ways to address them
- Utilise different assessment techniques based on business area and culture characteristics
- Design different assessment techniques: Surveys, focus groups, hypothesis-based interviews
- Assess how to do thematic reporting and communicating findings to get buy-in for change
- Clarify roles and responsibilities for culture across different Board Committees, IA, Compliance, HR
- Adopt organisational listening strategies to make it easy for employees to provide feedback
- Establish roles and responsibilities across different departments to monitor and change risk culture
Live Webinar Format
4 hours of interactive & insightful
LIVE webinar on Day 1 & 2
1-hour intimate group consultation
with workshop leader on Day 3
Receive full workshop materials
Grant is an internationally recognised risk culture specialist, having previously led a global centre of expertise for Deloitte serving clients across Asia Pacific, Europe, and the Americas.
For the past decade he has worked with some of the world’s largest and most respected companies to design and implement risk culture assessment methodologies, deliver comprehensive assessment programmes, and design/implement programmes to strengthen organisational resilience.
His work centres on the identification and redress of culture-related vulnerabilities (or organisational ‘design flaws’) that may result in reputational damage, unsustainable risk exposure, risk-aversion or other undesirable outcomes.
He has worked across a number of industry sectors including the government, airlines, transportation, media, utilities/resources, venture capital and the financial services (retail banking, global markets, institutional, investment banking, wealth, insurance).
• Global Banking and Securities Organisations (Europe, North America, Asia Pacific)
• Wealth Management (UK, Australia)
• Global Insurers (Europe, Americas, Asia Pacific)
• Real Estate and Construction (Australia)
• Venture Capital (Europe, Middle East, South America)
• Manufacturing (Japan)
• Central Government (Australia)
Who Should Attend
Senior level executives responsible for Risk Management, Internal Audit, Compliance, Governance and practitioners from organisations with an emerging or established risk culture capability
Log-in Time: 8.50am*
Day 1 & 2: 9.00am – 1.00pm* (There will be short breaks allocated at appropriate intervals.)
Day 3: Intimate group consultation between 9.00am – 1.00pm*
*Time stated in local Singapore time.
Day 1: Critically Evaluating the Robustness and Impact of Different Risk Culture Approaches
Session 1: The Case for Continuing to Focus on Culture
This session focuses on the implications of rapidly changing risk cultures and provides an open forum for discussion. Interactive discussion is an important part of this session so that we can focus on the types of challenges and impact that each organisation is experiencing.
- Understand why a focus on culture now is critically important, particularly with in the context of the current pandemic
- Explore ways in which cultures (or ways of working) have changed and the nature of new culture risks that may have emerged
- Understand how rapidly changing cultures could impact risk, compliance and conduct-created outcomes
- Getting management buy-in
Session 2: Interpreting Culture Information and Formulating Actions
This activity-based session works through example report extracts (case studies) from different risk culture approaches within the same organisation to understand the types of insights and resulting actions that may be available.
Activity – Each case study will iteratively work through:
- Interpret information from each example report and make conclusions
- Consider the underlying drivers or root causes
- Define the types of actions that would be most impactful (based on the data available in each case study)
- Comparing differences in conclusions and the types of actions across each case study, understand limitations of different approaches and consider ways to address some of those limitations
Day 2: Harnessing Capabilities Across the Three Lines of Defence to Surface Better Insights and Drive More Impactful Actions
Session 3: Assessment Techniques
In this session, we will demonstrate techniques used for understanding risk culture so that delegates can experience first-hand some of the strengths and limitations of different approaches and consider ways to address some of these limitations.
- Understanding biases
- Utilising different assessment techniques based on business area and culture characteristics
- Design and use of different techniques:
- Surveys (design, participation sampling, administration and interpretation)
- Focus groups (design, facilitation)
- Formal Systems evaluation
- Hypothesis-based interviews (defining hypothesis, leading interviews and reporting)
- Thematic reporting and communicating findings to get buy-in for change (building on learnings from Session 2)
Session 4: Working Together Across the Organisation to Strengthen Risk Culture – Implementation Approaches and Considerations
In the last session, we will look at ways that organisations have successfully implemented approaches to understand risk culture. We will be looking at a few different examples of what has worked (and what has not worked) rather than one ‘best practice’ organisation as what may work in one business may not work in another. We will also examine how risk, compliance, human resources, internal audit and operations divisions can work together to build and embed a sound risk culture.
- Clarifying roles and responsibilities for culture across different Board Committees
- Making it easy for employees to provide feedback and see areas of concern get addressed; including the use of ‘listening strategies’
- The different roles that can be played by internal audit, risk/compliance and HR
- Establishing roles and responsibilities across different departments to understand, monitor and change risk culture
- Successful implementation approaches: Case Study
Day 3: Intimate Group Consultation Session
There will be 1-hour intimate group consultation with the workshop leader, Grant MacKinnon, on Day 3. This in-depth and interactive consultation session will provide delegates the opportunity to ask questions from the content covered in the preceding days or focus on specific risk culture questions/challenges from their own organisation. More details will be given nearer to the date.