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Jannie Mouton And Then They Fired Me

18 March 2019 Christelle Faul Marais - Lucidum (Pty) Ltd

In this month’s instalment of our ONE-PAGE BOOK SUMMARY we share important lessons on the topic of risk culture. From someone who was successful, lost everything and then made an even greater success, we gain useful insights into the implications of leadership and organisational culture for the success of a business and how this affects good governance:

“Three questions kept me busy for a long time: How does one make a company grow, when are people happy and what’s the key to making a success of a company? The answer is ultimate empowerment.” “People who are well read, have well-considered opinions, are honest, can communicate and stick it out, are self-confident and care for people and on top of that can think, are the best.” “A company is a success if the client, shareholder and employee are all happy.” 

There is continuous and valid debate in corporate circles around the cost of compliance, assurance and good governance. As organisations struggle to reach their targets, it is critical for risk managers, compliance officers, auditors and other governance leaders to integrate with business, to reduce their cost as much as possible (without being short-sighted) and to demonstrate that they have “skin in the game”. If they don’t, the chances of business leaders buying into the value that these functions add, will diminish considerably together with the opportunity to contribute to good business outcomes for broader society… Click here to continue reading (PDF file).

Quick Polls

QUESTION

Financial behaviour experts suggest that today’s risk modelling methodologies ignore your client’s emotional ability / behavioural capacity. What are your thoughts on spicing up risk profiling tools to make allowance for your client’s financial behaviours

ANSWER

[a] Bring it on; my client’s make too many irrational financial decisions
[b] Existing risk profiling tools are adequate
[c] Risk profiling tools should be based on the model / rational client
[d] The perfect risk profiling tool is science fiction
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