Governance

A practical risk management article using a current source event to test ownership, evidence, controls and maturity.

AI risk management is often seen as a defensive exercise, but this mindset limits business value and slows innovation. Leaders must reframe AI risk as a tool to enable success, balancing risk with opportunity through clear ownership, tailored evidence, and ongoing assurance.

The Financial Accountability Regime (FAR) represents a transformative step forward, impacting APRA-regulated entities within banking, insurance, and superannuation sectors, as well as their directors and top executives.

The practice of effective risk management requires the management team to take ownership for the risks of their business through an effective and efficient decision making process.