Risk management is becoming increasingly challenging due to digital disruption. The integration of business and technologies means that risk and internal audit practitioners are now expected to manage technological risk as well as the accepted spectrum of risks: market, regulatory, compliance, governance and reputation.
Practitioners are also expected to provide more risk intelligence and strategic advisory as organisations adopt Risk Intelligence Enterprise frameworks that align risk management strategies with business strategies to support business sustainability.
This year’s Risk Management 2019 conference jointly organised by the Malaysian Institute of Accountants (MIA) and the Institute of Internal Auditors (IIA Malaysia) explores the less charted terrain of Artificial Intelligence (AI) and technological risks, while mapping the more known risks. This will support risk practitioners and internal auditors to better flag and prioritise risks and manage internal controls more effectively even as your roles expand.
The Risk Management Conference 2019 will focus on the following areas:
Global and Regional Market and Regulatory Risks – Leaders from the regional insurance, banking and finance sectors look at the impact of new regional and global regulations on market and organisational risks and suggest solutions for mapping and mitigating these risks.
Digital Risks – The Conference focuses on three emerging areas of risk that risk practitioners cannot afford to ignore:
- Cyber risks and data integrity and protection risks especially relating to the adoption of big data, data analytics and artificial intelligence. How do you manage these effectively in your organisation?
- How organisations should best shape their risk strategies as they migrate to digital tools in the era of Industry 4.0.
- How organisations should use artificial intelligence and tools to flag risks and what are the inherent risks in using AI and machine learning.
Emerging Use of Risk Intelligence Enterprise and Corruption Risk Management (CRM) systems in Malaysia – There is growing momentum for organisations to utilise risk intelligence enterprise and CRM systems to support risk management processes and business performance and governance.
Raghupathi Rao, Global Chief Internal Auditor & Chief Risk Officer (VP), Tata Global Beverages, Singapore will speak on how a risk intelligence framework can effectively support you to create customised strategies to manage risk. A risk intelligent enterprise aligns people, process, tools, technologies, and governance into one system that is further aligned with the organisation’s holistic business strategy and purpose. How do you tailor a risk intelligence enterprise system that fits your organisation and its unique context and circumstances?
Ending the day on a high note, Lee Min On, former risk consulting partner at KPMG Malaysia and current Audit Committee Member, Tan Chong Motor Holdings Berhad will talk about CRM, a management process that:
- helps identify structural weaknesses that may enable corruption
- provides a framework for all staff to take part in identifying risk factors and treatments, and
- embeds corruption prevention within a well-established governance framework.
MACC’s Corruption Risk Management approach incorporates international risk management methodology, the ISO 31000:2009 – Risk Management: Principles and Guidelines, and UN’s Global Compact: “A Guide for Anti-Corruption Risk Assessment”.
Lee will discuss how organisations can implement CRM in the Malaysian context and the benefits and challenges of CRM implementation.
Don’t miss the Risk Management Conference 2019 on 5 September 2019 (Thursday) at the Connexion Conference & Event Centre @ The Vertical, Bangsar South, Kuala Lumpur. For more information, visit www.mia.org.my or contact Fara at [email protected]