MD’S
MESSAGE
Timely report on
personal liability
WELCOME TO THE SECOND EDITION OF GRC PROFESSIONAL FOR
2015. Many thanks to all of those members who have contacted the office with
support and positive comments about the new on-line version of the magazine. We
were extremely happy with the open rates, and the comments we received are consistent with the member feedback requesting a timelier, more portable version of
the magazine.
This month we have a number of cutting-edge stories that are sure to promote
debate amongst GRC professionals. The issue of personal liability for compliance and risk practitioners is one that has been gaining some traction around the
region. There have already been a number of cases in the US where compliance
managers have been held personally liable for breaches that have occurred within
their organisation, under their watch. We explore this issue with a view to determining whether we will see instances of personal liability arise in the Asia Pacific
region, and what can GRC professionals do to mitigate the likelihood that they will
be held accountable personally.
We also present an interview with author Duncan McNab. Duncan has written
numerous books, including Outlaw Bikers in Australia. He is currently researching
a new book that investigates the AML techniques used by Mexican drug cartels.
Duncan is one of the Keynote speakers at our AML conference that is being held in
Melbourne on March 19 and 20.
In this edition, we also provide some preliminary results from our annual risk
management benchmarking study. The results indicate that many risk management
frameworks are in healthy shape, but that more work needs to be done for them to
be embedded fully in the business. In the coming months, we will be updating our
compliance management maturity model to reflect 19600, so watch out for this new
version of the annual compliance survey, with the results to be published later on
in the year.
This edition also focusses on sanctions compliance, with an interview with
Mark Dunn from Lexis Nexis, the importance of reputational risk and the concerning case of HSBC’s tax breaches.
I trust you will enjoy this edition of GRC Professional and please continue to
provide us with your feedback to ensure that we provide you with the news and
information that you need.
Martin Tolar CCP, Managing Director, GRCI
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