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GRC Professional : GRC Summer 2012
ACI NEWS 8 GRC Professional • Summer 2012 ACI 15th Annual Conference wrap-up GRC professionals who attended ACI’s Annual Conference in Brisbane last October left with heads full of ideas to improve their careers and organisations. The Annual Dinner was also a hit, with an Academy Awards theme to match the conference tagline: ‘Directing your career, your organisation, your success’. Conference highlights David Bradbury praises ACI Parliamentary Secretary to the Treasurer, The Hon David Bradbury MP, praised ACI’s tenacity during his opening address. “Rest assured that your voice is being very effectively represented by representatives of the ACI.” Social media risks and opportunities International guest speaker Tim Mazur, COO of the Ethics and Compliance Officer Association in the United States, shared insights into the compliance issues of social media. Examples included the Domino’s pizza employees who made a fake video of putting dodgy ingredients onto pizzas. HR and compliance teams working together Kym Fortescue shared her experience at AIA in Hong Kong where members of the HR team sat with her compliance team for 18 months. Read her story on page 30. How to sell to your sales team NAB’s Tim Kitching gave a motivational session with practical tips on how compliance officers can convince their sales staff to get on board. “Sometimes a little bit of bravado goes a long way.” Consumer law – what it means The ACCC’s Alan Ducret, General Manager, Queensland, provided an update on the new Australian Consumer Law, including court powers to order refunds to everyone affected by a fake product, such as the Danoz Direct Abtronic: “just a fat wobbler”. The Qantas A380 explosion ACI members learned lessons on protecting reputational risk based on the textbook handling of the Qantas A380 engine explosion. Read more about the compliance and risk challenges of the aviation sector on page 14. FINANCIAL SERVICES STREAM ASIC’s expectations of compliance officers Gerard Fitzpatrick from ASIC and Sean Hughes from New Zealand’s new Financial Markets Authority shared their views on compliance officers’ roles as gatekeepers. Identifying drivers of regulatory change Commonwealth Treasury’s Sue Vroombout spoke about the medium-term trends impacting the Australian economy and the developments in international financial markets - timely remarks as the European debt crisis deepens. Business continuity planning ANZ’s Paul Bonello walked attendees through the crisis scenario used for ANZ executives in November 2010. The scenario was based around floods – and occurred just weeks before the Queensland floods of January 2011. The Centro experience The inspiring compliance team at Centro Property Group shared their experience of the past few years and how a positive company culture helped them get through the major financial and legal challenges they faced. Codes of Practice This session provided delegates with an overview of the administration of Codes of Practice currently operating in the financial services sector. Insurance industry challenges Paul Muir from Suncorp provided insights into the regulatory change impacting insurance, including proposed updates to the Insurance Contracts Act. With thanks to the conference sponsors: Alumni: SAI Global Silver: CURA Software Solutions Bronze: RMSS, Blake Dawson Technology, PolicyPoint, Neill Buck Associates, Risk Wizard Exhibitors: LexisNexis, Copyright Agency Ltd, Sungard, Learning Seat, SafeTrac, Thomson Reuters
GRC Spring 2011
GRC Autumn 2012