On July 29, MSRM Class of 2010 alum, Andrew Koh spoke at the OpRisk Asia conference on “Permeating Risk Culture from Boardrooms to Front Offices.” The following is an excerpt from Risk.net:
On July 29, speakers at the OpRisk Asia conference in Singapore acknowledged that culture and conduct risk lay at the root of many operational risk failures, but warned that trying to impose company-wide cultural change could be an impossible task.
Instead, companies should try to drive change by picking a few ‘risk champions’ in each department and linking their compensation to culture and conduct risk metrics, argued Andrew Koh, deputy chief risk control manager at China Construction Bank in Singapore.
“You can’t reward everyone for cultural change, but you can appoint two or three risk champions in every department with key performance indicators for the implementation [of cultural change] and link that to reward or compensation,” Koh said. “Some of them [in China Construction Bank] have gone on to work in op risk as well later because they came to understand it very well … you will need to get HR involved to check that you are in line with hiring and compensation policies. And make it something easy to start with like the department’s risk and control self-assessment [RCSA] passing audit – not something like ‘zero risk incidents in the department’. You can put more objectives in for people who want to do more, to set the bar higher.” Building up the pool of risk-trained staff in each department would have its own advantages, he added: “A lot of banks don’t have a big crop of people to manage risk – and, when they need to react to an incident, you can tell.”
Read more here.
Andrew also spoke at the 6th Annual ASEAN Technology & Innovation – the Future of Banking & Financial Services on July 22, 2015. He covered Mitigating Risks in Technology to Drive Innovative Payment Solutions.
On October 14, 2015 Andrew will be traveling to Hong Kong to speak on the topic of Defending Against Cyber Security Threats To The Payment & Banking System. This topic was also covered in the Third Annual Risk Management Symposium on May 30, 2015.