by Alisha Musker
The Leadership Illawarra Program cohort recently completed our second site visit on the topic of Governance and Ethics at the IMB.
We had the privilege of listening to Nathan Campbell, Chief Risk Officer and Lauren Wise - General Manager Corporate Services & Company Secretary. The visit was an extremely insightful look into how an organisation in such a heavily regulated environment balances the need for a strong risk culture with staying efficient, productive and competitive.
With an interesting quote that 30% of all failures are as a result of systems and 70% are as a result of people, the risk culture strategy is strong and improves and changes every year.
The IMB systematically employs the three lines of defence approach to risk culture/management.
IMB’s risk culture strategy has a strong link back to the Values and Code of Conduct of the organisation which dictates the above and below the line behaviours.
It was great to also hear firsthand the change to IMB Bank and the strategy behind the change as well as the long term plans for this local institution who are a major contributor to our local community with over 7.6 million being donated to over 500 projects since 1999.
Thanks Nathan and Lauren for a great afternoon, very informative.
Blog posts written by the Leadership Illawarra Program Cohort.