Statewide Super will be embedding risk awareness within its organisation to encourage its employees to make risk management one of their main priorities to support the best interests of members.
Newly-appointed chief risk officer, Jason Muir, said he was refreshing the fund’s approach to risk in a post-COVID-19 and Banking Royal Commission environment.
Muir said: “Risk should inherently be a part of the culture of an organisation and as such, I want to impart my philosophical view that risk is an enabler to support people to make better decisions”.
The fund’s chief executive, Tony D’Alessandro, said the COVID-19 pandemic highlighted challenges in terms of assessing and responding to risk as the fund had to rapidly develop an internal understanding of each individual’s role in managing risk.
“This was particularly important when it came to adapting some of our certified identification processes which provided a solution for members who were isolated as a response to the COVID-19 pandemic,” D’Alessandro said.
The fund pointed to an Accenture study that said the rise of technology like artificial intelligence and automation would present challenges for risk managers.