Copying and distributing are prohibited without permission of the publisher
CRO RISK FORUM: The path to ERM enlightenment
10 August 2009
Eamonn Cunningham, chief risk officer at Westfield Group in Australia, is infusing risk awareness throughout his organisation - with positive results.
What was your motivation for implementing an ERM programme in the first place?
Our motivation was to adopt best practice in the risk management space. We wanted to bring risk management on a journey from the traditional approach to an advanced or enlightened one. To achieve that we involved the whole business and thus effectively made risk management part of each person's job.
But were there specific risk issues you wanted to tackle initially, such as reputation risk?
No, we were not driven by any single risk factor or motivation. You have to understand our culture. We are leaders in our industry and every part of the group is expected to push the boundaries in their particular field. Risk management is an extension of that philosophy and so we continually ask ourselves: ‘How can we do more?’
How did you go about it?
We used external consultants to give us...
You must be logged in to view this page. If you are already a registered user please log in. Alternatively, you can request a free trial or subscribe.