Tricor Roots InTouch Newsletter · 3/1/2016 · Tricor Roots InTouch Newsletter • January 2014 3 Outline After the roller-coaster ride following the ﬁnancial crisis of 2008,

Happy New Year and Welcome to the January 2014 edition of Tricor Roots InTouch. This Newsletter is aimed at keeping our Clients, Partners & Associates updated on what is happening in the world of Enterprise Governance.

Tricor Roots is proud to have hosted the 2013 Alumni Roundtable Gathering. This year’s edition was a limited closed-door gathering for existing Q-RADAR clients and included International

1. Tricor Roots successfully hosts the 2013 Alumni Roundtable Gathering

MALAYSIAJanuary 2014

Tricor Roots InTouch Newsletter

The Business Enablers

Member of Tricor and The Bank of East Asia Group

Tricor Roots Consulting Sdn Bhd

speakers on Governance, Risk & Compliance topics. Read below to find out more.

We hope you enjoy this Newsletter, and as always, please do not hesitate to contact us should you have any queries. We love to hear from you.

Your Trusted Consultant,

Tricor Roots Consulting Executive Team

On 9 December 2013, Tricor Roots Consulting hosted the 2013 Alumni Roundtable to enable Risk Management

professionals to share and discuss the latest changes in the Governance, Risk & Compliance arena, both on the

Malaysian and global front.

This year’s Alumni Gathering was a Roundtable event to share important developments in Enterprise Risk

Management (ERM) best practices as well as an introduction to Q-RADAR Version 9.6.

Among the speakers this year included:

• Mr Tarique MacDonald-Razvi , Board Director for the Risk Management Institution of Australasia (RMIA),

who shared with the audience developments in ERM in Australia, New Zealand and elsewhere.

• En. Mohd Radzuan Mohamed, Senior Vice President & Group Risk Management and Compliance Officer

of Malaysian National Reinsurance Berhad Holdings Group (MNRB), who shared with the audience on his

experience on the introduction and implementation of Key Risk Indicators (KRIs) as a vital risk

management tool.

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Tricor Roots Newsletter Jan 2014 v4.ai 1 30/12/2013 16:55:39

2. KPJ Healthcare Berhad, one of Malaysia’s leading Private Healthcare Provider, selects Q-RADAR to automate and enhance the Incident Reporting & Risk Management Process

2 Tricor Roots InTouch Newsletter • January 2014

As part of its journey for excellence in Corporate Governance & Risk

Management, KPJ Healthcare Bhd (KPJ) has selected the Q-RADAR system from

Tricor Roots Consulting to automate and enhance its Incident Reporting /

Learning system & Risk Management Framework. A critical element of the

engagement is to meet and exceed the 2013 Incident Reporting and Learning

Policy Directive issued by the Malaysian Ministry of Health (MOH). With the

Q-RADAR, KPJ intends to have a comprehensive Incident Reporting system to

quickly and effectively identify incidences throughout the Group, analyse root

causes and put in place mitigation plans to reduce the risk of future occurrence.

• Mrs Margaret Chin, Vice Chairman of Tricor Roots Consulting on the experience of Organizations in

Malaysia in complying with the new Statement on Risk Management & Internal Controls as part of the

Bursa Malaysia Listing requirements.

• Mr Kenneth Chin on introduction of the Q-RADAR V9.6, particularly on the integration and

Convergence of Enterprise Risk Management (ERM) and Business Continuity Management (BCM).

The 2013 Alumni Gathering is part of Tricor Roots Consulting's ongoing initiative to drive greater innovation and

share best practices for practioners in Performance, Governance, Risk & Compliance.

By integrating the Incident Reporting to the Risk Management framework within Q-RADAR, KPJ will have a

flexible system to also proactively identify, monitor & manage key strategic risks, whilst assessing compliance and

providing flexibility to consistently identify new opportunities.

Tricor Roots Consulting is proud to assist KPJ on its ongoing Risk Management & Incident Reporting program.

KPJ Healthcare Berhad (KPJ) is one of the leading private healthcare providers in the region with a network of 21

hospitals in Malaysia and 2 in Indonesia. With more than 2,600 licensed beds, KPJ hospitals offer a

comprehensive range of medical services and have treated more than 2.4 million outpatients and 240,000

inpatients in 2011.

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Outline

After the roller-coaster ride following the financial crisis of 2008, many

companies seem to have anticipated that business conditions would

return to normal, with a resumption of profitable growth. Instead, what

now passes for normal has been characterized by uncertainty, volatility

and a difficult economic environment in many parts of the world.

With the business environment more complex and uncertain than ever,

companies are elevating the role of risk management and integrating it

into their corporate strategies. The 2013 Global Risk Management

Study, conducted by Accenture and Oxford Economics, shows that

organizations now appear to recognize that an effective risk

management function will most likely have a direct line to the top.

According to the survey, fully 96 percent of risk management owners

now report directly to the CEO.

As another indication of the rising importance of risk management, the

survey also shows greater board involvement in understanding and

addressing risk. Boards are more actively engaged, and better prepared

to ask the questions related to the risk agenda, as evidenced by the

survey: More than eight out of 10 risk-management owners report

regularly on risk to the board.

Companies also have taken other steps to bring risk management front

and center. As witnessed in the research, they have almost universally

elevated the head of risk to a senior executive role, and they have

increased the level of integration of the risk management function in

business decision-making.

Nevertheless, organizations continue to struggle with many aspects of

risk management. One key area of concern is in fulfilling broader

business expectations for the role the risk management function will

play. Even when risk management functions succeed in managing

riskson a day-to-day basis, they may fail to meet expectations – as a

result of board reporting requirements and other pressures – to provide

value to the rest of the organization.

While important progress has been made to develop the risk

management function and integrate risk management at the enterprise

level, companies may wish to consider sharpening their focus on

developing high-performing risk organizations. As noted in our 2013

global risk study, we see three major areas among those needing

attention:

continued...

Headlines

Data, Talent and Compliance Drive the Next Phase of Risk Management

By Steven Culp, Forbes

4 November 2013

3. Critical Emerging Strategic Performance & Risk Issues

To better support our clients, we have outlined below recent global strategic performance and risk issues. The

information contained is based on sources we believe to be reliable, but we do not guarantee its accuracy.

Tricor Roots Consulting does not have any ownership over this information, nor does it represent our opinion.

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Outline

1. Improving the ability to turn data into insights.

High-performing risk management organizations seem to excel at

embedding analytics into management processes. They are doing so, for

example, by improving data quality and developing actionable

dashboards for management. They are also cultivating risk technology’s

"human element" through training and other measures to help make

findings from risk analytics actionable and insightful.

2. Finding and retaining risk management talent.

Developing and keeping quality risk management talent is an increasingly

crucial goal. This is also a central concept to the goals of risk analytics

(above) and compliance efficiency (below): both risk technologists and

regulatory change program managers are reported by our survey

respondents as being in short supply. High-performing risk management

organizations are more likely to use innovative techniques such as

rotational training and combining risk and strategy roles to help improve

retention.

3. Improving compliance efficiency and effectiveness.

Insufficient proactivity and lack of an integrated response to regulation

are among the top barriers to better compliance efficiency, as found in

the study. High-performing risk management organizations tend to take

an integrated approach to managing compliance.

To read more, click here

About Tricor Roots Consulting

Tricor Roots Consulting is an established and vibrant organization incorporated in 1999 with the mission: Sharing a

Passion for Excellence.

Our vision is to be a global consulting firm backed by innovative software solutions. We are highly focused towards

assisting Organizations and Individuals to achieve their potential for Excellence. Tricor Roots Consulting has vast

experience in providing training and consultancy services in the field of Governance, Risk & Compliance ("GRC")

which includes Performance Management advisory for numerous public listed and many more non-listed companies

in the Asia Pacific region from a diverse range of industries.

In addition, since the release of the Q-RADAR System in September 2001, over 400 companies in the Asia Pacific

region have successfully leveraged on the system as part of the Performance Management & Risk Management

Framework Implementation.

For more information, please log on to www.tricor-roots.com.

Tricor Roots Consulting is part of the Tricor Group of companies. To find out more, go to www.tricorglobal.com.

Headlines


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http://www.forbes.com/sites/steveculp/2013/09/19/data-talent-and-compliance-drive-the-next-phase-of-risk-management/

Copyright © 2012 Tricor Roots Consulting Sdn Bhd. All rights reserved.Copyright © 2012 TrTT icor Roots Consulting Sdn Bhd. All rights reserved.

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Tricor Roots InTouch Newsletter · 3/1/2016 · Tricor Roots InTouch Newsletter • January 2014 3 Outline After the roller-coaster ride following the ﬁnancial crisis of 2008,

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