GRC Institute CEO Naomi Burley talks about the GRC2021 Annual Conference: Raising the Bar- New thinking for new times. 

This year the conference will be held virtually on the 28 -29 October.  

Hope to see you there!

To register click here: https://thegrcinstitute.org/Events/eventdetail/1983

GRC2021- Raising The Bar

GRC Institute Director Julie Winkler talks about her professional development and her career on the GRC Professional Podcast.  

GRC2021 Conference Registrations: https://thegrcinstitute.org/Events/eventdetail/1984

Director Profile Julie Winkler

GRC Institute Director Elizabeth Moylan talks about her career journey and the impact of increased digitisation.

Related Event: 
GRC2021 Conference: https://thegrcinstitute.org/Events/eventdetail/1984

Related Podcasts:

Director Profile with Jamie Kelly:  https://thegrcinstitute.org/news/view/3010

Director Profile with Julie Winkler: https://thegrcinstitute.org/news/view/2999

Interrogating the Three Lines:  https://thegrcinstitute.org/news/view/3004

The Future of Privacy Compliance?: https://thegrcinstitute.org/news/view/3005

Director Profile With  Elizabeth Moylan

Nency talks about her professional journey from programming to Compliance

Graduate Interview - From Programmer to Compliance

As the GRC Institute Alumni Group continue their project in the three lines pf accountability piece, Simone Azzopardi from PetSure discusses the opportunities and challenges of the implementing the three lines of accountability effectively in an organisation.


Podcast Notes 

Three Lines Reimagined: https://www.thegrcinstitute.org/news/view/3051
Podcast: Improving the Three Lines: https://www.thegrcinstitute.org/news/view/2952
Podcast: Interrogating the Three lines: https://www.thegrcinstitute.org/news/view/2952

The Three Lines In A Perfect World

Blackmores Group Compliance  and Privacy Officer Eva Gleeson shares her compliance journey from Ireland to Australia and the challenges and opportunities that she faced along the way.

A Compliance Journey From Ireland To Australia : Eva Gleeson

Protecht Research  & Content Lead Michael Howell  talks about benefits of documentation and certification in ISO 37301: Compliance Management System.

Protecht: https://www.protechtgroup.com/en-au/

LexisNexis: https://www.lexisnexis.com.au/en/homepage


Recommended Listening

Podcast: Culture in ISO37301: https://www.thegrcinstitute.org/news/view/3070

Showing Evidence In ISO 37301

Thomson Reuters Bureau Chief for the Asia Pacific Nathan Lynch talks about his book The Lucky Laundry which looks at the detrimental impacts of dirty money on people and institutions.
The Lucky Laundry by Nathan Lynch can be found at your local bookstore!


Resources:  

Record $45 million civil penalty ordered against Tabcorp: https://www.austrac.gov.au/record-45-million-civil-penalty-ordered-against-tabcorp

Austrac and CBA agree to $700 million penalty: https://www.austrac.gov.au/austrac-and-cba-agree-700m-penalty

Westpac ordered to $1.3 billion: https://www.austrac.gov.au/news-and-media/our-recent-work/westpac-penalty-ordered

AGS Helped on largest civil penalty in Australian corporate history: https://www.ags.gov.au/publications/news/AGS_AUSTRAC_largest_%20civil_penalty_in_%20Aust_history_6Jun18

Fintel Alliance: https://www.austrac.gov.au/about-us/fintel-alliance

APRA releases CBA Prudential Inquiry Final Report  and accepts  Enforceable Undertaking  form CBA : https://www.apra.gov.au/news-and-publications/apra-releases-cba-prudential-inquiry-final-report-and-accepts-enforceable

APRA releases report on industry  self-assessments  into governance, culture and accountability: https://www.apra.gov.au/news-and-publications/apra-releases-report-on-industry-self-assessments-into-governance-culture-and

Royal Commission into misconduct in the Banking, superannuation  and Financial  Services Industry: https://www.royalcommission.gov.au/banking#:~:text=The%20Royal%20Commission%20into%20Misconduct,into%20misconduct%20in%20the%20banking%2C

Tranche  too hard: Australia  edges forward  with glacial AML/CTF law reform agenda: https://insight.thomsonreuters.com.au/business/posts/tranche-too-hard-australia-edges-forward-with-glacial-aml-ctf-law-reform-agenda

AML/CTF ACT: https://www.austrac.gov.au/business/legislation/amlctf-act

Money transferred to and from overseas: International funds transfer instruction (IFTI) reports: https://www.austrac.gov.au/business/how-comply-guidance-and-resources/reporting/money-sent-overseas-itfi

Tipping off: https://www.austrac.gov.au/business/how-comply-and-report-guidance-and-resources/reporting/suspicious-matter-reports-smrs/tipping#:~:text=A%20breach%20of%20the%20tipping,effect%20on%2017%20June%202021.


Podcast: AML & Financial Crimes Congress 2022 Sanctions Edition: https://thegrcinstitute.org/news/view/3193



Save the Date the Annual GRC 2022 Conference being held (online) on Tuesday 11th October 2022 – please save the date in your calendar!

Living In The Lucky Laundry - Nathan Lynch

GRC  Institute Risk Management Professional of the Year for 2022 and MT ST. Michael's College Risk and Compliance Manager Gina Conde talks about the importance of resilience, empathy, emotional intelligence and honest self evaluation.



Bio 
Gina Conde 

Gina is an experienced practising professional in risk management, internal auditing, compliance, and project management in medium and large commercial, government and not-for-profit organisations in Australia and overseas.  At present, she is the Risk and Compliance Manager for Mt St Michael’s College in Brisbane, Queensland.

Risk, Resilience & Empathy

GRC Institute the CEO Naomi Burley and Strategic Engagement Consultant Carole Ferguson discuss enforcement action taken by the Australian Securities and investments Commission against Perpetual and the American Express related to inadequate Target Market Determination (TMD).

The TMDs for Perpetual & American Express

GRC Institute CEO Naomi Burley talks about the work that the GRC Institute will be doing to in 2023 to help compliance and risk professionals to get their jobs done.  

“Throw forward ideas, think that’s what really enjoyed last year, and we want to see more of this year, is members throwing in their opinions on things because  I have to say our members are the leaders in this field so, you know, what you have to say in those discussion groups is absolutely valuable to all the other participants.”

Check out some supporting resources, training,  events and discussion groups mentioned in this episode of the podcast.    

AML & Financial Crime 
AML Financial Crimes Congress: https://www.thegrcinstitute.org/Events/eventdetail/2141
AUSTRAC Compliance Reports: https://www.austrac.gov.au/business/how-comply-and-report-guidance-and-resources/reporting/austrac-compliance-reports
Podcast: AML & Financial Congress 2022 Sanctions Edition: https://www.thegrcinstitute.org/news/view/3193

Training 
List of Training Courses: https://www.thegrcinstitute.org/events/eventtype/2
FNSSS00010 AML & CTF Skill Set - Livestream: https://www.thegrcinstitute.org/Events/eventdetail/2129


Compliance Management System
ISO 37301 Putting the Compliance Management Standard into practice and elevating your program: https://www.thegrcinstitute.org/Events/eventdetail/2152
ISO 37301 Compliance Management Standard: https://www.iso.org/standard/75080.html
Podcast: Culture in ISO 37301: https://www.thegrcinstitute.org/news/view/3070



Conference  & Publications 
GRC2023 Conference: https://www.thegrcinstitute.org/Events/eventdetail/2139
GRC Institute Member Discussion Groups: https://thegrcinstitute.org/events/eventtype/3
Podcast: GRC2022 Conference Highlights: https://www.thegrcinstitute.org/news/view/3249
The First Practice Note: Assurance : https://thegrcinstitute.org/news/view/3296

International Federation of  Compliance Associations 
Podcast: IFCA International Compliance Conference: https://www.thegrcinstitute.org/news/view/3224

The GRC Institute In 2023

KPMG Director of Compliance and Conduct, Alex Ong, conducted workshops with GRC Institute Members looking at the trends and challenges that risk and compliance challenges that come with managing conduct risk.

Alex talks to the GRC Professional Podcast about some critical issues related to conduct risk, common challenges and some misconceptions.

A Practical Definition Of Conduct Risk

The AML  & Financial Crime Congress 2023 has come and gone. Still, the subject matter expertise and shifts in the regulatory and legislative landscape will hopefully help financial crime compliance professionals build fit-for-purpose and ethical compliance frameworks that will ultimately play their part in protecting the Australian financial system.  

GRC Institute CEO Naomi Burley touched on some critical topics at the annual event held on 14 June.  


Resources:

•	AML CTF Reforms Consultation Part 1 closed 16 June: https://www.austrac.gov.au/consultation-commences-amlctf-reforms

•	National Anti-Scam Centre: https://www.austrac.gov.au/consultation-commences-amlctf-reforms

•	Modern Slavery Act Review: https://www.austrac.gov.au/consultation-commences-amlctf-reforms


For Members Only 

•	GRC Institute Anti-Money Laundering Networking Group: https://thegrcinstitute.org/Events/eventdetail/2105

•	GRC Institute Fraud & Scams Discussion Group:  https://thegrcinstitute.org/Events/eventdetail/2105

AML & Financial Crimes Congress Wrap - Up

Australian Compliance Institute CEO Naomi Burley talks about the GRC Conference: Step-Up.

Register Now: https://thegrcinstitute.org/Events/eventdetail/2139

GRC Conference Step - Up

CCL Consultants Principal and and Australian Compliance Institute facilitator Bronwyn Gallacher talks about 10980NAT Graduate Certificate in Compliance & Risk Management - Weekly Delivery - Livestream

Register Now: https://thegrcinstitute.org/Events/eventdetail/2183

Course Information
This certificate has been designed exclusively for senior GRC professionals looking to further develop their skills for career progression to the most senior level. Throughout this principles-based course, participants will tackle scenario-based challenges and be encouraged to creatively apply the skills learned to relevant and topical issues. Those who successfully complete this course will have the skills to excel in leadership positions.

If you have completed the 10964NAT CertIV in Compliance & Risk Management, you only require an additional 3 years experience before completing this Graduate Certificate.

Mode of Delivery
- This course will be delivered on a weekly basis.
- 10 sessions in duration. There will be weekly tutorials each Monday night via
  live stream, from 6:30pm-8:30pm (latest finish 9:00pm).

Register Now: https://thegrcinstitute.org/Events/eventdetail/2183

About the Facilitator
Bronwyn Gallacher is a CCRP (Fellow) Founder, Managing Director and Principal Lawyer of CCL Consultants Pty Ltd (CCL). Bronwyn is also ALDI Stores Code Arbiter under the Australian Food and Grocery Code of Conduct, Competition and Consumer Act 2010.

Course Promotion: Graduate Certificate in Compliance & Risk Management

Adder Rock Consulting Richard Sheldon addresses delegation of duty in a continuously evolving regulatory ecosystem.  

Podcast Notes
Financial Accountability Regime 2023: https://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/Bills_Search_Results/Result?bId=r6988
RBC: https://www.rbcroyalbank.com/personal.html
CPS 511: https://www.apra.gov.au/remuneration-requirements-for-all-apra-regulated-entities
CPS 230: https://www.apra.gov.au/sites/default/files/2023-07/Prudential%20Standard%20CPS%20230%20Operational%20Risk%20Management%20-%20clean.pdf
From Fires to Firewalls: APRA Member Therese McCarthy Hockey: https://www.apra.gov.au/news-and-publications/apra-member-therese-mccarthy-hockey-grc2023

About 
Richard Sheldon is Risk, Governance & Compliance Specialist and a former Senior Executive of the world’s 10th largest Bank, Royal Bank of Canada. Richard has a 30-year track record of implementing AML, Compliance, Risk and Cultural programs to meet global regulations, optimising organisational structures, providing prudent advice and solutions to regulatory challenges.  He has been instrumental in the development of risk, conduct & culture frameworks, reporting and governance structures to meet the increasing evidential obligations on financial institutions, including those relating to FAR, Whistleblowing, CPS 511 and CPS 230.

Delegation Of Duty In Compliance

Outgoing Australian Compliance Institute CEO Naomi Burley and Strategic and Engagement Consultant Carole Ferguson discuss the requirements of consolidating multiple member superannuation accounts under the SIS(ACT)through the lens of the Australian Securities and Investments Commission (ASIC)action against AustralianSuper.


Resources

ASIC sues AustralianSuper over multiple superannuation accounts: https://asic.gov.au/about-asic/news-centre/find-a-media-release/2023-releases/23-249mr-asic-sues-australiansuper-over-multiple-superannuation-accounts/


ASIC v AustralianSuper Concise Statement: https://download.asic.gov.au/media/tv1d2sli/23-249mr-concise-statement.pdf

ASIC warns super trustees to boost efforts to consolidate duplicate member accounts : https://asic.gov.au/about-asic/news-centre/find-a-media-release/2023-releases/23-175mr-asic-warns-super-trustees-to-boost-efforts-to-consolidate-duplicate-member-accounts/

ASIC & AustalianSuper

Australian Compliance Institute Director Annette Donselaar closes GRC 2023 Conference in August, calling on risk and compliance professionals to step up.

GRC 2023 Closing Speech - Annette Donselaar

The AML & Financial Crime Congress 2024: Connecting the Dots will be held on 15 May 2024.

Until then, here is a session from this year's congress.

At the AML & Financial Crime Congress 2023, Financial Crime Compliance Professional and Australian Compliance Institute member Carolyn Hanson discussed a practical approach to financial crime compliance in high-risk environments and jurisdictions.

Enjoy!

Register now for the  AML & Financial Crime Congress 2024: Connecting the Dots - https://thegrcinstitute.org/Events/eventdetail/2185

AML & Financial Crime Congress 2023 Presentation - Carolyn Hanson

alteredstate Director Craig Chappell talks about productivity, efficiency and getting more time back for yourself.  


Don’t miss the Productivity + Workshop: Workload and Workflow Mastery!

Register Now: https://thegrcinstitute.org/Events/eventdetail/2187

Event Details 
Productivity + Workshop: Workload and Workflow Mastery 

 The Australian Compliance Institute is pleased to be able to provide access to this workshop by alteredstate for our members.
 
 With multiple competing priorities, juggling the compliance workload can be overwhelming and take up valuable time in itself.
 
 This workshop will help you manage the requests and demands on your time, freeing you up so you can achieve balance and clarity for your priorities.
 
 Balance is essential for your well-being, as the schedule for compliance deadlines only accelerates constantly. You need to be at your best to deliver your best.
 
 These workshops will take you through approaches to your workload and will be followed up by one-on-one coaching to ensure you are putting the lessons into practice.
 
 The structure of the sessions will be:
•	Workshop session one: 8 November – 10:30 am – 2:30 pm
•	Workshop session two: 15 November - 10:30 am – 2:30 pm
1:1 Coaching to start after 20 November.
 
Register Now: https://thegrcinstitute.org/Events/eventdetail/2187

Workshop Promotion: Productivity + Workshop

"Documentation of accountability is just the starting point; it is imperative that you can demonstrate that it is embedded in the BAU of your organisations.  And remember, as businesses evolve, role changes and go into different areas of accountability--it's quite dynamic."

Adder Rock Consulting Principal Richard Sheldon looks at the ecosystem around the Financial Accountability Regime. 


Resources 
CPS 511  Remuneration: https://www.apra.gov.au/sites/default/files/2021-08/Final%20Prudential%20Standard%20CPS%20511%20Remuneration%20-%20clean_0.pdf
CPS 230 Operational Risk Management: https://www.apra.gov.au/sites/default/files/2022-07/Draft%20Prudential%20Standard%20CPS%20230%20Operational%20Risk%20Management.pdf
CPS 234 Information Security: https://www.apra.gov.au/sites/default/files/cps_234_july_2019_for_public_release.pdf
Financial Accountability Regime: https://www.apra.gov.au/financial-accountability-regime


In Case You Missed It:
Delegation of Compliance https://soundcloud.com/user-89551722-76965574/delegation-of-duty-in-compliance

The Ecosystem of FAR

LexisNexis Head of Content Regulatory Compliance Kieran Seed, outgoing-Australian Compliance Institute CEO and Interim-Australian Compliance CEO discuss the state of financial crime-related risks and regulation through the lens of the Lexis Nexis Whitepaper,  2023-2024 AML-CFT Compliance Roadmap Leveraging ISO 37301.

Download your copy of the  2023-2024 AML-CFT Compliance Roadmap Leveraging ISO 37301 now:  https://www.lexisnexis.com.au/en/insights-and-analysis/research-and-whitepapers/2023/2023-2024-aml-cft-compliance-roadmap

Resources 

CPS 230 Operational Risk Management: https://www.apra.gov.au/operational-risk-managementAPRA and ASIC commence joint administration of the new Financial Accountability Regime: https://www.apra.gov.au/news-and-publications/apra-and-asic-commence-joint-administration-of-new-financial-accountability

ISO 37301: https://www.iso.org/standard/75080.html
 

Related Financial Crime Podcasts 

AML & Financial Crime 2023 Wrap-Up: 
https://soundcloud.com/user-89551722-76965574/aml-financial-crimes-congress-wrap-up-1          
                                                                                             
AML & Financial Crime Congress 2022 & Sanctions: https://soundcloud.com/user-89551722-76965574/aml-financial-cirmes-congress-2022-sanctions

Thinking about Board Education in AML Compliance: https://soundcloud.com/user-89551722-76965574/thinking-about-board-education-in-aml-compliance

AML & Financial Crime Congress 2023 Presentation -  Carolyn Hanson: https://soundcloud.com/user-89551722-76965574/aml-financial-crime-congress-2023-carolyn-hanson

Other Related Podcasts

Showing evidence in ISO37301: https://soundcloud.com/user-89551722-76965574/showing-evidence-in-iso-37301-draft

The Ecosystem of FAR: 
https://soundcloud.com/user-89551722-76965574/the-ecosystem-of-the-far-draft-2

The State Of AML Through ISO 37301

GRC Solutions Head of Content Adrian Phoon talks about an upcoming webinar and future discussion groups to be conducted in conjunction with the Australian Compliance Institute. 

Register for The Compliance Webinar now!: https://thegrcinstitute.org/Events/eventdetail/2188

Have your say on future topics: https://www.surveymonkey.com/r/L9BFKG5

Event Description
The Discussion Group will feature a range of guest speakers. The aim is to equip members with practical advice from subject matter experts and promote discussion and knowledge-sharing between peers.
  
 To launch the discussion group, we are offering a webinar event, that will be open to members and non-members. This webinar from 12-1pm on Monday 20 November.
 
 This is an opportunity for non-members to get an understanding of the topics we cover and how they might benefit from participating in discussion groups.

Webinar Promotion: Upcoming Compliance Webinar

CCL Consultants Principal & Australian Compliance Institute Course Facilitator Bronwyn Gallacher talks about the Treasury Laws Amendment (More Competition, Better Prices) Bill and the impact that the increased maximum penalties could have on Qantas and other matters after the royal assent of the amendment.  

Resources
Treasury Laws Amendment (More Competition, Better Prices) Bill 2022: https://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/Bills_Search_Results/Result?bId=r6923

ACCC Takes court action alleging Quantas advertised flights it had already cancelled: https://www.accc.gov.au/media-release/accc-takes-court-action-alleging-qantas-advertised-flights-it-had-already-cancelled

Record penalties of $438 million ordered against Phoenix Institute and CTI for acting unconscionably and misleading students: https://www.accc.gov.au/media-release/record-penalties-of-438m-ordered-against-phoenix-institute-and-cti-for-acting-unconscionably-and-misleading-students

ACL Penalties & Deterrence

Are there cultural challenges in your organisation? How are you measuring them? Are your solutions proactive or reactive? Have you developed a psychologically safe workplace?  

Ombpoint Managing Director Lindall West stresses, the importance of proactively approaching people risk in organisations.    

Resources   

Respect@ Work:  https://www.respectatwork.gov.au/  

Anti-Discrimination and Human Rights Legislation Amendment (Respect at Work) Bill 2022: https://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/bd/bd2223a/23bd027#:~:text=The%20purpose%20of%20the%20Anti,2020)%20(the%20Report).  

Ombpoint:  https://ombpoint.com/organisations-are-auditing-their-culture-and-conduct-are-you/

Being Proactive On People Risk

Would your company pass the Fair and Reasonable Test?

“People have started saying ‘well, we shouldn’t just be thinking about could-we, but we should be thinking about should-we. And I think if you bundle up fair and reasonable, if you bundle up privacy as a human right, if you bundle up potential rights to claim against companies, that should-we questions could be your north star and your guiding light until we have actual legislation to live by.” – Lyn Nicholson, General Counsel, Holding Redlich.  

The Australian government has agreed in principle to many recommendations made in the review of the Privacy Act—one of which is the fair and reasonable test, which will require regulated entities to make an impact assessment before collecting personal data for products or services.  
Holding Redlich General Counsel Lyn Nicholson talks about the potential impact of the fair and reasonable test because it might not be a bad idea to use it as a guiding principle even though it is not a requirement…. yet.  

Resources
•	Government response to the Privacy Act Review Report: https://www.ag.gov.au/rights-and-protections/publications/government-response-privacy-act-review-report#:~:text=In%20its%20response%20to%20the,to%20best%20protect%20this%20information
•	Dymocks confirms 1.2 million customers shared on the dark web in data breach: https://www.abc.net.au/news/2023-09-15/dymocks-confirms-1-million-customers-details-leaked/102863820
•	Data Breach could cost Medibank $ 35 million in 2024: https://www.itnews.com.au/news/data-breach-could-cost-medibank-35-million-in-2024-599566
•	Equifax fined $13.4 million following data breach: https://www.cshub.com/attacks/news/equifax-data-breach-fine

Considering The Fair & Reasonable Test

Grant Thornton Head of Risk and Compliance Jo-Anne Hayes talks about the importance of having privacy policies around the onboarding and use of digital, online tools, pilots and free trials.

Privacy Policies, Pilots & Free Trials

The GRC Professional gets an opportunity to chat with Financial crime compliance Professional Eveline Estephan who at the time was pursuing a masters in financial crime at Charles Stuart University.

Eveline Estephan talks about Financial Crime

Naomi Burley speaks to the the GRC Professional about  the International Federation of Compliance Associations ( http://www.ifca.co/ ).

The upcoming Investigating Blockchain event taking place next week in Melbourne ( https://www.thegrcinstitute.org/Events/eventdetail/1790 ).

The workshop on reframing compliance for your business taking place next week in Sydney ( https://www.thegrcinstitute.org/Events/eventdetail/1793 ). 

And the final instalment in the GRC Event Series for 2018 taking place on December 12th in Melbourne. 
 ( https://www.thegrcinstitute.org/Events/eventdetail/1708 )

Naomi Burley on IFCA and other upcoming GRCI Events

The GRC Professional Podcast got a chance to catch-up with David Byrum from Human Synergistic International who addressed some of the misconceptions around culture, conduct and what organisations keep getting wrong.

Still Facing The Culture Question

The GRC Professional speaks to Tony Beaven from Elders Financial about some of the challenges embedding the right culture and some the the tactics that he has used to drive the right kind of  culture. 

What have been some of the challenges you have faced when trying to implement the right kind of culture in your organisation? Email me at kwame.slusher@thegrcinstitute.org

Ethics & Culture with Tony Beaven

The GRC Professional Podcast is a production of the Australian Compliance Institute to help risk and compliance professionals keep up to date with industry news, new ideas and regulatory updates. https://www.compliance.org.au/

Popular tracks by GRC Professional Podcast