The RIMAS Networking Nite II was kick-started on with a talk on “Incorporating ERM with Strategic Planning” at the NUSS Guild House. The guest speaker was Ms Foo Mei Ling, Director and Principal Trainer of Advent CGS Sdn Bhd.
Mei Ling has over twelve years experience in auditing, software applications development & implementation and consulting and advisory services. For the past six years she has led risk management and internal audit engagements focusing solutions and programme implementation and services to a range of corporate clients in Singapore, Malaysia and Thailand.
The topics Mei Ling focused on in her talk included:
- ERM – On-going developments
- Role of ERM within Strategic Planning
- A culture of Understanding & Appreciating Risks
- Sustaining your ERM Programme
- Presented Case Studies
During her talk, Mei Ling mentioned that for many organisations Risk Management is not new, but is often directed towards control and compliance rather than addressing RM in an holistic and proactive approach such as ERM. She emphasized that RM should be positioned in the Strategic Planning process, rather than treated as an add-on at a later stage. Additionally, Risk Assessment should be undertaken prior to setting KPI’s. To drive these perspectives, a culture of understanding and appreciating risk needs to be developed within an organisation. For achievement of success, commitment and sponsorship must come from the top, supported by a good communications structure to send coherent messages to all stakeholders. Senior management should approach the implementation of risk management as an opportunity for beneficial cultural change, with an understanding that RM is everyone’s business which can strongly impact continual improvement. Mei Ling illustrated this point by presenting a number of case studies where organisations communicate effectively their RM policies and even Risk Registers on the web. At the end of the talk, attendees were formed into focus groups to discuss issues affecting the successful development and implementation of an ERM programme.
There was a very good turn out for the talk and was an enjoyable evening. Many stayed back to continue the chat at the "Kopitiam session" on aspects related to the talk even after the session had closed as scheduled. It was particularly encouraging to hear from attendees how much they enjoyed the evening, and were not only looking forward to the next event, but even keen to give talks. |
