Addressing Group Insurance Operational Risk

Addressing Insurance Operational Risk - Sean Williamson Principal

Addressing Group Insurance Operational Risk PFS Principal, Sean Williamson, recently produced a thought-provoking article about Operational Risk inherent in Insurance in Superannuation. This paper addresses how insurance operational risk confronting Trustee Boards and Fund Executives is increasing as major change and complexity, primarily regulatory and mergers, continues across the superannuation system. It explores how funds […]

The Special Needs of Financial Services Boards

PFS Consulting Principal, PFS Consulting - Financial Services Boards, risk management implications

The Special Needs of Financial Services Boards Was the misconduct in financial services enabled by directors who did not understand their businesses? This is the topic of a thought-provoking paper produced by PFS Principal Ian Laughlin and actuarial colleague Barry Rafe. Many recent reviews into the financial services industry have identified widespread and systemic misconduct. […]

Risk Management Implications of Coronavirus (COVID-19) for Non-Executive Directors

PFS Consulting Principal, PFS Consulting - Financial Services Boards, risk management implications

PFS Principal Ian Laughlin is a member of a Working Group of the Actuaries Institute that has prepared this paper for the Institute’s Pandemic Resource Centre.  It is aimed at assisting Non-Executive Directors, particularly in financial services, on the risk management implications of the COVID-19 pandemic. Contact Ian Laughlin at to find out more. Pandemic Briefing […]

Five steps for best practice board and committee performance reviews

Board and committee performance review

An organisation’s success depends on how well board and committee members work together to drive company goals, align resources, and reinforce the organisational culture and mission. As part of good governance and to reduce organisational risk, it’s essential to regularly review the performance of the board or management committee and its members. Performance reviews (also […]

Staying ahead of the wave: will the recommendations from the Royal Commission cause a tsunami of changes for executive remuneration?

Royal Commission, Executive Remuneration

Tucked neatly in the Royal Commission report, starting on page 347, is a little section that focuses on Executive Remuneration. This section has received little media attention; however the recommendations could instigate significant changes that are likely to flow to all Australian companies. This article highlights the key issues for Boards, particularly Remuneration Committees, and […]

A five-minute summary of the Hayne Royal Commission findings

Hayne Royal Commission

By now you have probably begun analysing the findings of the Hayne Royal Commission – however if you need a top line catch up, here’s our summary, with some of our own thoughts added. High lights (or Low lights) Overall, the Commissioner laid the blame for the various acts of misconduct at the feet of […]

The collaboration conundrum: Lessons from the APRA/CBA report

APRA CBA Collaboration Conundrum

It’s been called Australia’s most scathing regulatory report to date. The Australian Prudential Regulatory Authority’s (APRA) inquiry into a succession of conduct and compliance issues at the Commonwealth Bank of Australia (CBA), which culminated in the flouting of several aspects of anti-money laundering legislation, is certainly damning. APRA paints a picture of an organisation that became dangerously […]

Governance in the digital age – is your board ready?

Digital infrastructure, governance

Upgrading your organisation’s digital infrastructure was once a way to stand out from the crowd. Now, it’s a necessity in order to avoid missing out on the forecasted US $1.16 trillion increase in the Asia-Pacific region’s GDP by 2021 that widespread digital transformation will contribute (according to Microsoft & IDC Asia Pacific research). Digital business […]