Risk at CommBank is on a journey of transformation. From how we identify and manage risks to the technology we’re using, right through to the very people we’re bringing into the team.
“Good risk management is ultimately really good business management,” says Anvij, who leads CommBank’s Group Operational Risk and Group Supports Unit.
“If you can marry those two together, you can achieve great things at scale and pace. That’s where we’re heading in the next few years.”
This journey has been years in the making. There’s no doubt that Risk has evolved here in recent years.
“I think the role of risk has shifted quite a bit, particularly in the last two to three years,” says Anvij.
“Not too long ago, risk was seen as a handbrake whose role it was to slow things down and say no. Now we’re seeing risk as a key strategic enabler and it’s that mindset shift that’s transforming the very nature of risk management.”
According to Kylie, our Executive General Manager of Group Compliance, CommBank has put in the hard work to achieve this shift, which has opened the door to the next phase of our transformation.
“Even before the Royal Commission, we’d started on the journey of improving the culture and foundations of risk,” says Kylie.
“Now we’re coming out the other side and we’re ready for innovation. I think that’s very attractive for risk professionals who are looking to push the boundaries and help us take risk into the future.”
And what that future looks like is pretty exciting, to say the least. Leveraging the bank’s industry-leading customer facing technology, risk is looking to artificial intelligence, machine learning and data analytics to ensure we remain at the forefront of risk management.
An evolving world calls for evolving talent
As part of this ongoing transformation of risk, there’s a growing need for people from a range of backgrounds with unique experiences. CommBank is not only bringing in new talent who can offer fresh perspectives, but is also dedicated to providing existing risk professionals with the skills they need to bring the worlds of risk management and technology together.
Risk leaders are now looking for people who have a curiosity or background in emerging technology. People who are interested in data management, human-centred design or design thinking, for example.
“With our people we’re really looking to bring together the risk and compliance skills with the ability to innovate,” says Kylie.
“We’ve found those merging skills to be a very successful combination. We’re always looking at how we can develop more of our own people in that space, as well as bringing new people in and growing them into a more rounded professional.”
With risk, innovation and the broader business continuing to align, the opportunities for people across the entire spectrum of risk management have become increasingly varied and exciting.
For Jason, a Senior Manager of Risk and Control Enablement, this opens up endless possibilities.
“Risk is embedded in everything we do here, which means we get great visibility and exposure across all areas of the bank,” says Jason.
“I love contributing to decisions, projects and initiatives knowing they’ll ultimately help shape the future of CommBank. It provides me with so many opportunities to grow and do things I never thought possible in risk.”