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Excessive risk aversion in strategy and decision-making can be a deterrent for growth and innovation. So, how can enterprise risk management deliver smarter and responsive risk taking for leveraging of growth opportunities?

Perhaps for the first time ever, many everyday Australians are thinking about, and talking about governance and risk management. Unfortunately, the reason for all this attention is the exposure of systemic cultural problems across all sectors brought by the Haynes Royal Commission, the APRA report on the Commonwealth Bank, and related reporting.

I know from talking to our members, that right now, they are thinking about the implications of current events for their organisations, the lessons they can learn, and how they can support their boards and their organisations. I have also been reflecting on how we can support our members during the current challenging environment. Here I'll discuss the role of governance professional, and the role that Governance Institute plays to support you during these times. 

The Queensland launch of Working in Sports Essentials brought over 100 years of collective experience in sports to the table — John Buchanan, Director and Owner, Buchanan Success Coaching and former coach of the Australian Men’s Cricket Team, Peter Cummisky, CEO of QSports, and Gail Torrens, CEO of Tenpin Bowling Queensland. Here are the five biggest challenges they discussed.

What the APRA Prudential Inquiry into the Commonwealth Bank of Australia shows us all too clearly is that it is not good enough to take a limited view on risk management. If you have not yet read the report, I commend it to you – as a case study, it is a primer in corporate governance especially as relates to culture and accountability. Many company boards will do self-assessments against this report. We have begun receiving enquiries about how to assist and we expect to develop a variety of professional development offerings that will lean on the learnings.

Organisations will see more ownership at the coalface of risk management and it will be teams, not lone geniuses solving problems.