A failure to understand fundamental principles and implement sound risk management practices were key factors behind the global financial crisis.

That’s one of the findings in a white paper released today by the Risk Management Institution of Australasia that corrects some misconceptions about risk management’s role in the GFC.

Much public analysis and finger pointing has occurred in an attempt to identify the triggers for the current global financial crisis. Two related but incorrect assertions have emerged from this process. One is that conventional risk management has failed. The second is that organisational resilience, supported by corporate governance and risk management, is the new assurance process for promoting business success.

Mark Thirlwell, Director of the International Economy Program at the Lowy Institute, is the guest speaker at a breakfast meeting at the Cairns Convention Centre on Monday, November 23, 2009.

Globalisation has escalated the importance of supply chain risk management, says Gary Lynch, US-based global leader of supply chain risk management for Marsh.

Mr Lynch is a keynote speaker at the Risk Management Institution of Australasia’s annual conference, “Risk management: the road to resilience”, in Cairns, north Queensland, on November 22-25, 2009.

He will take RMIA conference delegates through methodologies to change from static to integrated strategies to manage supply chain risk.

“Every organisation, without exception, is part of a supply chain. Organisations now operate in a world of increased upstream and downstream risks in their supply chains,” he said.

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Trying to exert too much control over an organisation can weaken its resilience, says research ecologist Dr Steven Cork.

Dispersing decision making can strengthen resilience, but that is counter to the way many companies are organised, he said.
Dr Cork, a consultant who helps organisations think about future strategies, is a keynote speaker at the Risk Management Institution of Australasia’s annual conference, “Risk management: the road to resilience”, in Cairns, north Queensland, on November 22-25.

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Fatigue risk management is vital for organisations operating 24/7 to improve employee well being and avoid liability, says Bill Sirois, senior vice-president and chief operating officer of Boston, USA-based Circadian Technologies Inc.

Mr Sirois is a keynote speaker at the Risk Management Institution of Australasia’s annual conference, “Risk management: the road to resilience”, in Cairns, north Queensland, on November 22-25.
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"RISK REVOLUTION" says Accountants' 'Chartered" magazine, October 2008 lead article

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