Risk and Compliance software | Industry Successes

EDUCATION

Box Hill TAFE
Box Hill Institute is one of Australia's premier, multipurpose TAFE institutes that prides itself on its ability to deliver a broad range of vocational education and training services.

The Institute has been acknowledged as Victoria's No. 1 TAFE Institute in 2004 and 2005. Box Hill Institute is Australia’s leading Technical and Further Education (TAFE) provider of tailored national and international quality training services for government and industry.

Requirement
Box Hill TAFE required a system that was easy to use and followed the Risk Management Standard AS4360. It had to be reasonably priced and be scalable.

Solution
Our software suited Box Hill perfectly in terms of functionality and price. The ease of navigation and intuitive nature of the software means the system is used regularly. Management reports are simple to run. As part of the implementation we provided local training and report building services.

Benefit
The software has helped with the establishment of a consistent and meaningful risk reporting system. The system has contributed to an improvement on insurable risk ratings and led to savings on insurance premiums.

TESTIMONIAL
"We have integrated the Risk Wizard system quite seamlessly into our risk management processes at Box Hill Institute of TAFE. It has been an invaluable source of reference and provides the reporting and analytical capability required of the business and myself as the risk manager. We are looking forward to the wider deployment of Risk Wizard throughout the business as the management of risk becomes more of a routine business proposition. With the help of the Risk Wizard system, our risk management process has indicated ways in which we can better manage and in some cases reduce our insurance premiums. We can generate reports for Council, Audit committee and Risk Management steering committee which provide up to date information for each of these groups responsible for the key governance issues. We look forward to maintaining a strong working relationship with Risk Wizard"
Martin Booth
Executive Support Manager – Risk Management

FINANCE

Aayan Leasing & Investment
A'ayan Leasing and Investment Co. is active in the fields of Leasing and Financing, Investments and Real Estate. A'ayan is one of the pioneer companies in the Gulf region that conducts several activities based on Islamic Shari'a.

A'ayan was established by a distinguished group of public and private organizations and a number of well-reputed investors. The company derives its strength from its clients' trust which enable it to become one of the largest financing companies in the Gulf region.

Requirement
A'ayan required a brand new enterprise risk management (ERM) program. The information system was to be at the core of the new risk process to help support and embed a new risk management culture.

Solution
We provided a fully configured system and integrated this with a new risk framework containing a suite of risk management documentation. The RELIANCE system provided depth of information and allowed easy access for risk co-ordinators and other enterprise users. Our experts provided advice and assistance in these areas:

Research on industry related best practice guidelines for operational risk
Establishment of risk management objectives
Drafting of Risk Committee Charter
Formation of Risk Management Policy
Design of 3 year Enterprise Risk Management (ERM) Plan
Development of Risk Management Manual
Production and analysis of a risk management profile
Creation of risk assessment templates
Documentation of Risk Guidelines Checklist
Risk management education and training
Software installation, configuration, training, data migration and support

Benefit
The integration of our services and software has helped A'ayan establish a rigorous risk culture and helped the company meet its compliance obligations. The company's risk awareness has significantly improved across the entire business.

GOVERNMENT

City of Greater Dandenong
The City of Greater Dandenong manages a broad range of services to over 130,000 residents and 9000 businesses. It is a dynamic and diverse city and is recognised as Victoria's manufacturing heartland. It has over 170 parks and reserves to manage and its council services cover about 130 square kilometres.

Requirement
City of Greater Dandenong (CGD) required a robust corporate risk register that fitted their risk process and Risk Management Service Charter. The diverse nature and size of the organization meant that system flexibility and scalability were also very important.

Solution
Our software provided the features, functionality and robust framework required. Not only does RELIANCE manage the Corporate Risk Register but also handles issues related to Occupational Health and Safety. The quick and easy access via the web browser means that the CGD team of risk professionals can always access their information promptly and securely. As part of the implementation we installed the system via a Virtual Private Network (VPN) and provided on-site setup and training services.

Benefit
The software is easily accessed across the corporate intranet and provides a central repository for risk information. Risks are being managed more efficiently and effectively. The system is also being accessed more regularly and by more people because it is so quick and easy to use. This has improved the risk identification process and the management of risk information.

HEALTH

Salford Living
Salford Living has been involved in retirement villages since 1983, and now operates seven villages with high levels of unit occupancy and an established sense of community among the residents. Salford Living's philosophy is to encourage healthy lifestyles and to support the community by providing a range of services, products and care, which contribute to a long and fulfilling life. It operates in Queensland, Victoria and South Australia.

Requirement
Salford Living needed a user-friendly web enabled risk system that could be accessed by staff based at Head Office and branch locations. Crucially, the RELIANCE system needed to not only alert management to emerging issues (Risk system) but also to tell them when obligations and tasks (Compliance system) were not being completed. The latter was of particular importance because of the Aged Care legislation and accreditation process that operators must undertake.

Solution
RELIANCE enables Salford Living to manage its risk and compliance information from the same system. Both systems are integrated so that items can be linked and shared. As part of the implementation we installed the system via a Virtual Private Network (VPN) and provided on-site setup and training services.

Benefit
Since RELIANCE runs RISK and COMPLIANCE on the same overall system it has saved time and effort in IT infrastructure, setup and training. The systems can be easily accessed across the corporate network. The scalability and adaptability of the system have been important as the risk framework continues to change with the transition of the group to a publicly listed company.

TECHNOLOGY

Bravura Solutions
Bravura Solutions Limited is a publicly listed company and a global leader in the provision of superannuation and pension, life insurance, investment, transfer agency, STP financial messaging and portfolio administration software for financial institutions worldwide.

With over 20 years of experience in developing and maintaining large scalable financial systems, Bravura Solutions supports more than 180 financial institutions globally, with a range of corporate clients in Australia, New Zealand, United Kingdom, Europe, Asia and South Africa.

Requirement
Bravura Solutions needed software for both risk and compliance. The software needed to be used by multiple web based users from Australia and the UK. The system also needed to be flexible and scalable to accommodate a fast growing technology company.

Solution
RELIANCE provided an economic and functionally superior solution that is adaptable to fast changing environments. Information entered is quick to understand and report on. Visual dashboards and charts are particularly useful for gleaning risk and compliance trends and underlying issues. We also provided a range of local services from Melbourne.

Benefit
The software has coped with the demands of a fast growing listed company and contributed to the adoption of a common and consistent approach to risk and compliance. Reporting to Board Committees from the system is smooth and saves much time and effort on previous spreadsheet exercises.

TRANSPORT

Raben Group
Raben Group is a leading European logistics services company operating within the Czech Republic, Estonia, Holland, Germany, Latvia, Lithuania, Poland,Slovakia and Ukraine. It has about 4,500 employees, 420 000 sqm of warehousing area and a network of terminals. Services include full logistics, warehousing, international distribution, forwarding, sea and air freight.

Requirement
Raben required a user friendly web-based system that risk co-ordinators and management could easily access via the corporate intranet. The software needed to handle in excess of 50 enterprise users located across 12 European countries.

Solution
Our software matched Raben's technical and business requirements. The software was competitively priced and our UK partner provided training and business hours support. We provided technical support and customization services from Melbourne.

Benefit
The software provided a common risk platform for geographically dispersed staff. The roll-out of the software helped to ensure a consistent risk approach and has led to effective risk management practices across the group.

TESTIMONIAL
Raben Group awarded Enterprise-wide Risk Programme of the year
"On this 17th April 2008 in Westin hotel in Paris the ceremony of awarding prestigious awards - StrategicRISK European Risk Management - given to the best European risk managers, risk management projects and the companies contributing in this field, took place. The contest is under the auspices of StrategicRISK - British magazine the readers of which are mainly the members of Federation of European Risk Management Associations (FERMA). Since in 2004 this award was established, the ceremony has taken place in London. This year the organizers decided to resign from London and choose Paris instead. Raben Group participated in the contest for the first time. The idea reported by the Group won the first place in the category "the best company programme for risk management", outdoing the projects prepared by such concerns as Gaz de France or Royal Mail.

Winning this prestigious award by Raben Group bespeaks of attaching great importance to risk management and correct implementation of adequate systems. For such a big organization like ours this is crucial. Risk management programme allows to properly form processes in the company and at the same time prevent critical situations” - said Ewald Raben, CEO of Raben Group. Due to risk management system, the Clients can be sure that service in Raben Group is on the highest level and the areas or situations in which there is danger of occurring a crises are under control of qualified employees of the company."

Sources: Raben Group news and Strategic Risk

UTILITIES

GWM Water
GWM Water is a major water utility operator looking after around 70,000 customers with a geographic spread of 62,000 square kilometres, which is about 30% of Victoria. This area is similar in size to Tasmania and covers 13 municipalities either fully or partially.

Requirement
GWM Water needed a risk management system that users could follow easily and access securely. It needed to reflect the robust framework embraced by the Risk Management Standard AS4360. GWM also required expert advice and assistance on its Audit, Risk and Compliance program.

Solution
Our integrated software and services solution met all of GWM's requirements. Our software provided a scalable and highly adaptable risk information system while our service deliverables provided the necessary rigour around the Audit, Risk and Compliance program. Professional services included:

Education and training of Board, executive officers and staff
Planning and facilitation of Board risk workshops
Development of Audit, Risk and Compliance program
Documentation of policy and procedure manuals
Re-engineering of risk assessment process

Benefit
The software has grown with the business over many years and is an integral part of GWM's risk management operations. Our new product RELIANCE has been warmly received and because it is easy to use and access the number of enterprise users has increased. Overall, work practice efficiencies have resulted and the risk culture has improved. New projects, for example the Wimmera Mallee Pipeline Project, have been built into the risk system with confidence.