Summary of GRC Supper Club IX: The hedgehog and the fox: A GRC dichotomy!

Thank you all for joining the 2MC sponsored event on the 2nd Nov. This was our biggest gathering to date and, given the topic, aptly took place in the woodland of the Barbican Centre.  

​We had 4 great speakers who helped provide content to digest and discuss over food and .....did I mention? .... unlimited wine... although I forgot this was only until 10pm - if I was looking after Gismo we would now be overrun by gremlins.​

We also had Danny illustrating the key themes as we went, his artwork will help us collectively drive content from the events going forward.

The central theme was really workplace personas, perceived communications challenges and whether technology would help bridge these gaps. Can anyone hear Roger's BS detector going off?... phew. I was too tall to qualify for a Tom Cruise risk assessment prior to the event, so please let us know what you thought of the topic and event through the survey below.

It was a pleasure, as always, bringing together old and new GRC friends. If you enjoyed it shout it from the roof tops, if you didn't please keep it to yourself ;)

Hypothesis: The dilemma between loss-averse attitudes & proactive risk management may now have a compelling solution. As Fintech / Regtech will soon be able to bridge this divide in an increasingly complex regulatory world.

Summary: 

• The hedgehog is cautious as he/she has in-depth knowledge and is more risk aware
• The Fox has a wider experience of things and can be too quick to act.
• The Hedgefox incapsulates both personas and provides a balance that allows informed agility and protects against uninformed leaps, while fine tuning corporate machines stuck to the same processes.
• FinTech/RegTech is big business with potential to overcome communications challenges. 
• Algorithms on average out perform SME's as they stick to boundaries 
• Discussions at one point in the evening morphed the Fox into the Start-up and the Hedgehog into the large corporate.
• Accepting new ways of working [WoW] and embracing tech could lead to a radical change in how companies manage their risk. 
• With increasing regulations and fines this wont happen quickly and a company would have to be brave / visionary to take on this additional risk

A big thank you to our speakers:
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Dr. Roger Miles





Lionel Hackett



Georgios Samakovitis



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​Mike Hurst

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Scientists have successfully bred a new species!

Our dedicated undercover GRC reporter recently gained access to highly confidential laboratory files - Allegedly, all they had to do was log on to Huddle lol. These files detailed a highly effective new GRC species, which they termed the Hedgeoficus Foxious[Hedgefox]. No one has seen one yet but they are believed to have been bred for GDPR protection :). More to follow...

A closing message from our sponsors...

2MC thank you for your attendance at the SC event. It was a pleasure to meet you all and hopefully you enjoyed the evenings discussions and made some valuable connections. We felt the evening highlighted how we’re all working in a highly dynamic business environment, facing broad, growing, rapidly changing sets of risk management challenges.

​Many of you asked for more information on our company - 2MC are one of the most experienced and dedicated GRC consultancies in Europe and the Middle East working in the global Banking, Energy, Telco and Insurance industries. We have offices in London and Dubai, and since 2017 are part of TUV Rheinland. Being sector and tech-neutral, we engage with clients to deliver the appropriate-fit solution which matches their needs. Please feel free to contact any of us for more information.
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We hope to see you all at the next event scheduled for the first week in Feb 2018.  
 
Best wishes,
 
Team 2MC - at the event were Lisa Addison, Marc Kellinger, Dev O’Nion, Andy Boden

LinksSome links from our community members that might be of interest:
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• MLROs.com
• The Institute of Operational Risk
• Board Agenda including a quote from Mr Edge