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South Africa Risk Report Launch 2016

Date:
10 February, 2016
Time:
8:00 am - 5:00 pm

Speaker:

10 February, 2016 @ 8:00 am - 5:00 pm

IRMSA South African Risk Report Launch 2016 held on the 10th February 2016

The South African Risk Report was officially launched on the 10th February at a breakfast presentation hosted by IRMSA at the Johannesburg Country Club. The turnout was excellent. Well done to Gillian and her team! Michael Ferendinos, (Chief Risk Officer of AECI) who is the chairman of the IRMSA risk intelligence committee did a brilliant job of taking us through the salient points of the 2016 risk report. You can find a summary presentation at www.barnowl.co.za/knowledge-centre/

The highlight of the morning was Clem Sunter, who as always entertained us with his brilliant analysis of the global and local markets with figures and stats at hand to back it up. Clem  spoke about ‘flags’ (essentially risks and events); ‘cloudy’ flags that come and go and are unpredictable and ‘clock-work’ flags that are 100% predictable like the ageing European, Chinese and Japanese population which will have a huge impact on global economic growth  and commodity demand in the immediate / near future. In contrast, South Africa has the opposite where 50% of the population is under 23: (i.e. ‘born frees’ in and after 1994). Clem mentioned that he had been talking to an international cosmetics company that was investing heavily in Africa selling hair care and skin care products because there is only so much anti-wrinkle cream you can sell to a dying population in Europe. Clem went into some detail of the impact of global risks such as terrorism (ISIS / refugee crisis), Russia / Putin stirring things up, the ageing population in Europe, China and Japan,  the Zika virus (pandemic), anti-establishment sentiment from the low and middle class, regulatory scrutiny of large corporates.

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On the local front Clem spoke about 6 flags that corroborated many  of the risks identified in the 2016 risk report and spoke about game changers (impact) such as: 1) corruption,  2) quality of infrastructure (physical, education, heath, electricity, water etc.), 3) quality of leadership, 4) pockets of excellence, 5) economic freedom (Government needs to grow, support, encourage and make things easier for entrepreneurs and SMMEs) and 6) world at work (mechanisation and technology disrupters). In terms of the scenario quadrant (please see presentation slide 28), Clem puts South Africa in the quadrant of ‘steep climb’ with the possibility of ‘avalanche’ (if we don’t get it right now and business and government don’t work together, the Rand plummets and junk bond status becomes a reality). In terms of the global outlook Clem mentioned that Goldman Sacks say there is a 20% chance of a crisis similar to the 2007 crisis; Clem rates it a much higher probability with a stagnant global economy and tough times ahead. Clem gave an interesting statistic of 3 trillion dollars being invested in fracking (borrowed money from banks) which produces oil at $60 a barrel whilst the market price is sitting at $30 per barrel. Makes you wonder when the pack of cards may come tumbling down with USA debt at 50% of GDP, its highest since 1942.

In summary, Clem mentioned that Risk Management is a key (top) discipline in any company and critical when determining / setting company strategy.  Risk management needs to be dynamic with a real-time view of your risk profile and KRIs.  Clem also mentioned that the IRMSA 2016 risk report is an invaluable publication and a must read for any organisation.

BarnOwl is privileged to be a member of the IRMSA Risk Intelligence Committee and to have contributed to the input of the IRMSA 2016 risk report as well as providing a few of the graphical analysis charts in the report which were generated utilising BarnOwl’s business intelligence module.

You can find a summary presentation at www.barnowl.co.za/knowledge-centre/ and download the full report at https://barnowl.co.za/surveys/

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Extracts from the breakfast written by Jonathan Crisp

Director

BarnOwl GRC and Audit Software

 

BarnOwl provides a system-wide view of your risk universe at a strategic group level as well as at each individual business unit level and / or process level. BarnOwl provides an early-warning system and keeps risk managers / management appraised of a changing risk environment improving their insight and oversight of issues and exposures at every level of the organisation enabling an organisation to respond appropriately / proactively to risks that might adversely affect the realisation of the organisation’s objectives.

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BARNOWL PARTNERS

GRCReady is the official provider of risk management content for the BarnOwl GRC software solution. GRCReady provides extensive risk libraries and risk maturity checklists/surveys which are integrated with BarnOwl.

GRCReady, based in Australia, offers a comprehensive and holistic library of products and associated services including templates, policies, procedures, guidelines, checklists etc. to help owners and directors of SMEs, startups and corporates to satisfy their corporate governance, risk management and regulatory compliance needs.

By integrating GRCReady's rich content libraries into BarnOwl's GRC software, we are able to offer our clients a state of the art, turnkey GRC solution.

GRCReady provides, arguably, the most comprehensive risk and governance maturity assessment framework with detailed steps and artefacts. BarnOwl's survey and action plan portal provides a simple and effective way to monitor and report on your current state of risk maturity and suggest and drive remedial action plans to take you to your desired state of risk and governance and maturity.

By integrating GRCReady's risk libraries with the BarnOwl GRC software, means that you don't have to start from scratch. In addition, ongoing updates and insights keep you informed and up-to-date on best practices.

www.grcready.com

BARNOWL PARTNERS

Season Rhyrhm is BarnOwl's preferred partner in Botswana assisting with BarnOwl implementations, support services and client relationship management.

Season Rhythm is an established and distinguished player in the ICT sector in Botswana, specialising in a range of cutting-edge solutions. Season Rhythm leverages BarnOwl to provide tailored GRC&A services to businesses in Botswana facilitating:

  • Governance: Enabling organisations to establish and uphold effective governance structures, ensuring transparency and accountability in decision making processes.
  • Risk Management: Equipping businesses with tools to identify, assess and mitigate risks, safeguarding against potential threats and ensuring continuity in a business environment.
  • Compliance: Ensuring adherence to regulatory frameworks and industry standards, protecting businesses from non-compliance penalties and fostering trust among stakeholders.
  • Audit: Streamling the audit process with comprehensive tools for planning, execution and reporting, driving efficiency and accuracy in internal audit and compliance assessments.
  • www.sr.co.bw/ict

BARNOWL PARTNERS

BarnOwl works closely with NSA in the field of GRC and assurance.

NSA is an education and risk & assurance advisory services provider, consisting of a team of professional consultants and facilitators who have been hand-picked on experience and expertise. NSA services include:

  • Strategic intervention: 30 expert consultants facilitating strategic planning, combined assurance, effective governance and risk management assignments.
  • Continuous professional development: CPD training for internal auditors, external auditors, accountants, risk managers, government officials, and psychologists.
  • Online learning: accredited training for the local government sector, including the Municipal Financial Management Program and Supply Chain Management.
  • Online skills development: skills in demand for 2030, including cybersecurity, Protection of Personal Information, Artificial Intelligence, Robotics and programming.

BarnOwl and NSA work closely with our clients to align and enable best practice GRC and assurance framework & methodologies within BarnOwl. NSA regularly presents online information sharing sessions together with BarOwl.

www.nextstepac.com

BARNOWL PARTNERS

Nico Technologies is BarnOwl's preferred partner in Malawi assisting with BarnOwl implementations, support services and client relationship management.

Nico Technologies Limited is an established IT products and services provider in Malawi, specialising in managed IT services, IT infrastructure services, IT project management, digital solutions, digital transformation and IT advisory.

Nico Technologies uses BarnOwl extensively within their own organisation to automate and manage their own risk and compliance functions.

www.nicotechnologies.com

BARNOWL PARTNERS

Morgan Solus is BarnOwl's preferred business continuity specialist consulting firm with its 'BCM toolkit' software. BarnOwl GRC together with the BCM toolkit, provides a comprehensive risk management and BCM software solution.

Morgan Solus is a specialist consultancy firm focusing on risk, resilience and continuity. Morgan Solus's core services are centred on resilience, crisis management, business continuity (BCM), IT services continuity and disaster recovery (DRP) and training.

The BCM toolkit ensures a consistent approach to implementing BCM and IT disaster recover and cuts down implementation timelines by 60% whilst driving up successful outcomes.

BarnOwl's extensive GRC and assurance functionally coupled with Morgan Solus's BCM toolkit provide the ultimate risk management and BCM software solution.

www.morgansolus.co.za

BARNOWL PARTNERS

Arbutus Analytics is Barnowl's preferred data analytics software. BarnOwl GRC integrated with Arbutus Analytics, provides the ultimate in continuous risk monitoring.

Arbutus Analyzer is a powerful data access and analysis solution specifically developed for auditors, business analysts, and fraud investigators. Its robust performance and user-friendly features offer you the ability to access and analyse data quickly and simply.

BarnOwl GRC, integrated with the real-time metrics from Arbutus provides a strategic early warning system driving preventative and predictive capability facilitating effective business decision making business improvement.

www.arbutussoftware.com with local sub-sahara African distributor www.betasoftware.co.za

BARNOWL PARTNERS

Barnowl works closely with Pax Resilience in the field of GRC and sustainability.

Pax Resilience offers solutions in risk, resilience and cyber security. Pax Resilience strive to create peace of mind by assisting you to build the resilience in your organisation so essential to survive and thrive in the volatile, uncertain, complex and ambiguous world we live in.

Pax Resilience regularly presents online information sharing sessions together with Barnowl.

www.paxresilience.io

BARNOWL PARTNERS

Paige Law is the official provider of compliance content for the Barnowl GRC software solution. Paige Law provides an extensive Library of South African acts including provisions [CRMPs] and checklists which are integrated with Barnowl.

Paige Law specialises in compliance, Commercial Law, Legal process consultancy, managed legal services and POPIA/ GDPR.

CONTACT US

Registered Address

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More Information: info@barnowl.co.za
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