Page 11 - One Green Leaf Design

COMMUNICATION & CONSULTATION
MONITORING & REVIEW
DETAIL YOUR RISK MANAGEMENT FRAMEWORK AND RISK MANAGEMENT STRATEGY
RISK ASSESSMENT
RISK IDENTIFICATION
RISK ANALYSIS
RISK EVALUATION
RISK TREATMENT
PROVIDE DETAILS OF THE TEAM THAT WOULD MANAGE ANY TRANSITION INCLUDING NUMBERS AND SPECIFIC EXPERTISE
Owner
Transformation Governance Group
Blended governance group consisting of Client and Service Provider representatives. Focused on strategy, ambition, innovation needs and benefits management.
Service Delivery
IT Operations
Run function supported by external Service Providers in key domains to maintain service target service levels and enable desired customer experience, operational excellence, risk management & security.
a. Documented risk management framework and plans
IFAA views risk management as a critical and integral part of it’s operations, as well as an essential element of the philosophy and culture of the business.
IFAA has a documented Risk Management Framework (RMF) in place with the process summarised by the following figure:
IFAA Risk Management Process
ESTABLISHING THE CONTEXT
As an Australian Financial Services Licensee, IFAA is required to ensure that it has adequate risk management systems in place which comply with the provisions of the Australian Standard for Risk Management (AS/NZS ISO 31000:2009).
IFAA’s external Auditors audit the AFSL on an annual basis and part of this audit is to provide limited assurance over the controls in place to ensure compliance with the Corporations Act.
Reporting Structure
The Governance, Risk, Audit and Compliance Committee (GRAC) and executive management have responsibility for risk management within the Group’s operations on a day-to day basis.
The GRAC, management and compliance sta have direct access to the Managing Director to help perform this function.
GRAC’s Role
The GRAC has an external independent chair and the it meets monthly. The GRAC is responsible for the management of risks through the risk management framework. The GRAC is also focused on fostering a risk management culture throughout the Group.
Role of IFAA Group Management
Management, with oversight from the GRAC, is responsible for the day- to-day management of business risk. Duties in relation to this
role include but are not limited to:
• initiating action to prevent or reduce the adverse e ects of risk;
• controlling further treatment of risks until the level of risk becomes acceptable;
• identifying and recording any problems relating to the management of risk;
• recommending or providing solutions through designated channels; • verifying the implementation of solutions; and
• communicating and consulting internally and externally as
appropriate.
All risks identified by management are documented in the Risk Register and are monitored on a regular basis through IFAA’s compliance program and GRAC reporting. IFAA’s risks are categorised under the following headings: • Product
• Customer
• Brand / Reputation
• Operations
• Strategic
• Human Resources / Health and Safety • IT
• Financial
• Governance / Regulatory / Compliance
Figure 4: IFAA Risk Management Process
l. Provide your corporaTthe RgisokvMeanrangaenmcenet Fpraomliecwyorskpisesucpipfiocrtaedllybyiansculituedofing:
- Conflicts managemenptolicies and procedures covering Employee Code of Conduct, Fraud
- Environmental, socialParontedctigono, BvuesrinnesasnCcoentipnuoitlyicaniedsDisaster Recovery, and IT Security.
IFAA Group sta are given annual training on these policies.
At the highest level IFAA’s corporate governance is directed and controlled by the
charters of both the Governance, Risk, Audit and Compliance (GRAC) Committee and the Business Advisory Committee (BAC).
BUILDING A PERFORMANCE-BASED PARTNERSHIP
By utilising the performance based partnership model, in defining
a digital transformation team, IFAA will address the opportunities for optimising fund administrative services that Energy Super have identified as critical in the RFP. This partnership model will remain embedded in IFAA’s service o ering to Energy Super as an ongoing capability and strategic advantage.
Evolution O ice – Think tank for continuous improvement and evolution of ideas through to their acceptance and inclusion in the target Architecture and Roadmap.
Architecture – Responsible for incorporating validated initiatives into ICT Architecture and Roadmap. This function is responsible for technical and business integration, and estimation, and providing advice regarding scheduling and release management for new initiatives.
Program Delivery – Detailed design and build of the solution to be taken on by Service Delivery for operational implementation. This function is responsible for driving business engagement and integration of new solutions into the BAU environment.
Service Delivery – Responsible for successful operation of ICT services plus security across all business domains.
Owner – Client and Service Provider are co-responsible in partnership for successful execution of the contractual obligations, achievement of desired performance and innovation and dispute resolution.
Integrator – This function consists of service assurance, compliance and enabling communications across the Client and Service Provider teams, essentially being the ‘oil’ that will help the ICT governance system to function in a cohesive, e ective and e icient manner.
Collaborative Engagement – Conceptual Model
Integrator (connections)
Communications & Stakeholder Engagement
The ‘oil’ that will help the ICT governance system to function in a cohesive, e ective and e icient manner.
Evolution O ice
Business Innovation & Emerging Technologies Teams
Partnering with Client to identify and trial new technologies and tools to enable a better customer experience, operational excellence, improved risk management & security etc.
Design
Architecture Teams
Maintaining the solution design, roadmap and alignment to future state capabilities.
Program Delivery
Project Teams and Support Streams
Blended project teams and transformation support streams driving solution build and implementation.
Figure 13: Performance Based Partnership Model
IFAA’s Conflict of Interest Management Policy outlines IFAA’s licensing requirements and obligations and describes the process for reporting, disclosing and managing conflicts. See Appendix 1 for a copy of the policy.
The Code of Conduct Policy outlines how the Group conducts business and clarifies the standards of behaviour that are expected of its employees, consultants, contractors and labour-hire sta . The Code ensures that such behaviour is in line with the Group’s values.
The Code also provides a general framework for principles of conduct
while employed by the IFAA Group. The Code’s standards of behaviour sit alongside the behaviour and performance standards specified in contracts of employment and IFAA’s Group Policies. A copy of the Code is included
as Appendix 2.
In terms of conflicts management, IFAA maintains privacy between clients by ensuring segregation as part of its cyber security safeguards. So we keep clients separate, but at the same time, they enjoy economy of scale benefits.
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Further to the above formal policies, conflict management and governance obligations are defined within:
• sta employment contracts;
• separation of duties matrices;
• IT and cyber security policies and provisions; and
• physical measures such as restricted access key cards for sta and
directory access controls.
The IFAA Group views its social and environmental responsibilities very
seriously. Employees are also encouraged to be aware of the social, ethical and environmental ramifications of their actions.
The IFAA Group’s o ice is located within a NABERS accredited 5 Star Energy and 4.5 Star Water rated building. When the business was relocated in 2015, moving to an environmentally friendly building was a high priority.
The Group utilises cruelty-free cleaning products that are ‘Choose Cruelty Free’ (CCF) accredited.
The IFAA Group has been working toward becoming less reliant on hard copy paperwork in its operations. ‘Go Paperless’ is an active campaign implemented for IFAA’s existing clients.
WE FOCUS ON THE DETAILS
OUTLINE YOUR PROPOSED DETAILED TRANSITION PLAN AND TIMETABLE TO ACHIEVE A SMOOTH AND COMPLETE CONVERSION TO THE NEW ARRANGEMENTS
ORGANISATION & CHANGE
Digital capabilities being embedded into lines of business
CIO and lines of business jointly empowered
AGILE & EMERGING TECHNOLOGIES
Creating more agile IT
IT modernisation and modern platform adoption
Creating a team to experiment with new technologies
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SO YOU CAN FOCUS ON THE BIG PICTURE
IFAA will not need to transition Energy Super to a new platform. This inherently makes IFAA
the lowest risk choice as Energy Super’s future partner. However, our fundamental premise is that we are consciously seeking to win a ‘new engagement’ with Energy Super.
We therefore commit to the delivery of a defined digital transformation project over 18 months of planned project activities and then continued transformational improvements through to 2020, in line with our Digital Strategy and Roadmap.
Over the last year, we have consciously been re-mapping a new operating model and service proposition and in parallel have engaged a technology partner, CGI, who advise that continuing and accelerating our work via a three phase approach to digital transformation is a high but achievable benchmark for IFAA and will require us to keep building on our current capabilities via:
• Strategy and Roadmap development and maintenance • Organisational Change project delivery and sustainable
change framework
• Agile approach to design and delivery of emerging technologies • Customer based design embedded as a ‘way of life’ at IFAA
• Innovation built into our governance and employee culture IFAA, with our partners CGI and IRESS and bank of leading vendors including Microsoft, are in a desirable position to stay focused on excellence of service. At the same time we achieve our goal to be digital by default, personalised by design.
Our transformation roadmap with defined deliverables and benefits through to 2020 demonstrates our long term commitment to increase the delivery of quality services to Energy Super and all our customers, and specifically to our customers’ clients (members, employers, advisors, and other key stakeholders in the fund).
Agile and Digital Business
STRATEGY & ROADMAP Ensure strategy is aligned
across the enterprise
Targeted investments through appropriate governance
Partnering with external providers
INNOVATION
Improving employee collaboration–remove silos
Separate innovation group or Internal grassroots innovation initiatives
Creating radically di erent products or services
Figure 11: Digital Transformation Change Dimensions
CUSTOMER & DESIGN
Creating better customer experience - common view across organization
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