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Better decision making in turbulent times

Every decision is a risk-based decision, but do you really understand the uncertainties, options and responses?

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Risk Transformation

The efficient frontier. Performance management, not risk management.

Yes, risk-taking is the essence of value creation. And yes, decision quality is the process by which you apply risk management and structured thinking to make the best decision you can at the time. Business performance is the result.

You manage performance, not risk.

Every decision an organisation makes is risk-based, trading off perceived value creation against value protection.

How do you extract every drop of enterprise value your appetite for risk-taking provides?

How do you know how much risk you are taking or can take? Do you prefer a poor risk-based business decision that turns out well to one that is well made but turns out badly? Are the quality of your choices more critical than their outcome?

The risk team at Insync are experienced in helping to answer these questions and more.

How Insync can help

Our Risk Transformation team have developed their skills in senior risk roles in banking and energy, as well as in global consultancy roles. We have capabilities and methodologies to accelerate insights to help you better recognise and manage risk. The key to our work is to consult and deliver individualised plans based on specific business circumstances.

We work with our clients to deliver, transform and enhance in the following areas:

Develop and embed risk management frameworks

The design, development, build and implementation of enterprise risk management frameworks is a core offering. Our team has decades of collective experience working across financial services, energy, government, telecommunications and utilities to ensure your new or existing RMF is ‘fit for purpose’. With a heavy focus on Decision Quality and the impacts of cognitive bias, we look through the ERMF to its core purpose – making better risk-based decisions and shaping our thinking for each client.

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Develop and embed business risk appetite

Defining, sharing, specifying and measuring your appetite for risk is critical to making good, risk-adjusted decisions and monitoring your progress towards strategy. Our team have helped dozens of organisations better articulate and communicate risk appetite with a focus not only on what risks the organisation cannot take but also on what risks must be taken. We help you define better where to invest in delivering on strategy, determine what to do when things aren’t going to plan and support effective governance of risk limits and thresholds.

Facilitation of risk assessments and scenario models that support improved decision making

A Business Risk Scenario Model (BRSM) provides the information we need to make informed and reasoned trade-offs between all the valid options available to us to make the best decisions in high-pressure, time-constrained environments.

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Establishing and reviewing risk accountability models

Effective accountability models are not only a prerequisite for effective management of risks but are becoming mandated by regulators and lawmakers. We have experience in helping select, define, implement and operate accountability models that drive clarity of ownership, execution and response.

Controls framework design and review

We know we’re not the only ones to say that you don’t manage risks, you manage controls, but we’ve been saying it for longer than most. We find that most organisations, especially highly regulated ones, constantly struggle to design & build internal control systems that meaningfully integrate:

  1. The things they want to achieve (purpose, vision strategy)
  2. The things that can go wrong or need to go right (risks)
  3. The things they must comply with (rules – regulations, licences, contracts)
  4. Their actual capabilities

Our approach to controls puts culture and internal controls at the heart of this integration challenge. It drives the definition, implementation, operation and assurance of sustainable, reliable and cost-effective controls.

Regulatory change and operationalisation of compliance requirements

Compliance obligations are numerous, ever-changing, complex and often hard to put into practice, and when things go wrong, the consequences can be significant to businesses and customers. We are well versed in the obligations facing financial services and credit providers and other regulated industries and in helping those organisations to operationalise and enable compliance.

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Project governance and risk reviews

Considering the amount of change that most significant projects deliver, many organisations routinely seem to miscalculate the business risk that comes with change. Business cases can be detailed and heavily scrutinised. Still, measurement of the existing risk profile, the delivery risk, and the delivered end-state risk are three measurements that rarely get done.

By failing to use your existing Risk Management Framework (RMF) and measure these operational risks, it is much harder to understand the project’s impact on the enterprise risk profile and its consumption of operational risk appetite (or capital). This results in the change risk impact of many significant projects being risk assessed in hindsight, and it’s why many projects are deemed to have failed at an enterprise level, even when they deliver many of the predicted business case benefits.

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Risk culture assessment

You can’t regulate culture. Regulators acknowledge this, however, increased regulation seeks to address perceived culture and accountability gaps that have hurt public trust in financial services, governments and large corporates and brought issues around social licence, operating models, incentives and remuneration to the fore. Boards and Executives need meaningful methods to measure their risk culture and demonstrate how they will influence and shape it, including through appropriate and robust accountability frameworks.

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Third party risk management

Your business relies on a myriad of large and small third-party suppliers. Your procurement process ensures rigorous due diligence, supplier selection, contract negotiation, and formation. Your Service Level Agreements (SLAs) contain robust and actionable rights, obligations, and monthly performance dashboards provide line of sight – ensuring you are getting the products and services you bargained for. However – your suppliers have many masters, and their commitment to your objectives, priorities and standards are not always aligned. How do you ensure a regular independent assessment of your ‘actual’ risk exposure with this supplier is within acceptable limits?

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Key Contacts

Sean Coady

Chief Executive Officer

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Joe McDavitt

Practice Leader – Governance, Risk & Conduct

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Insync Testimonial
Over the last three years, Sean and the team at Insync have provided the Trawalla Group with terrific governance, risk and compliance services. Critically, they have challenged our thinking and approach to measuring and managing risk-based business performance. They have taken what I call a brave position at times, but challenged us for all the right reasons – and I thank them for it. Insync is our ‘go-to’ team, providing Big 4 quality at great rates and always with our best interests at heart. I have no hesitation recommending Sean and the Insync team to anyone.
Alan Schwartz

Managing Director
Trawalla Group

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Learn more about how we can help you with benchmarked and customised risk and compliance consulting services.

Risk and compliance insights

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