PwC Risk and Response

Managing risk in an increasingly uncertain world

We’re living in a fast-changing and increasingly complex environment. Businesses are feeling more and more vulnerable to the dangers of cybercrime, systemic failure, fraud, corruption, regulatory investigation and the daunting prospect of costly remediation.

It’s time to turn risk into an opportunity and to take preventative measures to help you avoid the uncertainty that inhibits opportunity. If a crisis does occur, we identify the source of the problem, minimise the cost and pain, and then rebuild trust. We install more effective systems to preclude the likelihood of recurrence.

Our strategy is to ensure that the identification of risk is an opportunity to prepare, respond and emerge stronger.

The role of the Executive in Uncertain Times

Business leaders have always had to grapple with complex challenges. In the last few years, we’ve seen global shifts such as the rise of new technology, swift political changes, and the collapse of old systems spark shockwaves that are reshaping once-stable industries.

 

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Rethinking Remediation

Remediation is often considered time-consuming and labour-intensive. But for savvy businesses, it’s also
a compelling opportunity to demonstrate trust and transparency and put customer outcomes first.

 

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Risk and Response Propositions

Cyber security

With the continuing rise of cybercrime, we help identify vulnerabilities so that you can protect yourself more effectively. Should a breach occur, we’ll investigate, remediate and get you back to ‘business as usual’ with the minimum of disruption.

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Risk Resilience

The accelerating pace of change is creating insecurity, uncertainty and risk. Our experience and expertise can help build the resilience that acts as your organisation’s immune system – protecting you from the unexpected and ensuring a speedy recovery if problems occur.

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Financial Crime

Criminals prey on systemic failure – the lack of appropriate controls to detect and thwart their activities. We bring the necessary expertise to help you respond to financial crime and then rebuild trust by remediating deficiencies and enhancing operating models.

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Regulatory Investigation

In this complex regulatory environment, businesses are unwittingly vulnerable to criminal sanctions and civil penalties. Our dedicated team can help you respond to investigation and minimise your costs. We’ll ensure you emerge with better systems and better relationships with regulators.

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Fraud and corruption

Criminal investigation requires speed of response and a particular mindset – we combine behavioural analysis, creative thinking and actionable intelligence to discover the extent of the fraud, identify the perpetrators, recover losses and then rebuild trust and confidence through clear communication.

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Remediation centres

We’ve built this dedicated resource to cope with the increasing number of consumer protection and remediation issues. The remediation process is powered by our scalable, onshore workforce that deliver end-to-end, high quality, low cost solutions. Find out more about PwC's local Remediation Centre of Excellence.

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Turning compliance into competitive advantage

Compliance can be complicated. Businesses in highly regulated industries know that it takes serious investment and near-constant vigilance to stay abreast of reporting requirements. Unfortunately, failure to invest in robust regulatory processes can risk leaving companies vulnerable to breaches. These can destroy credibility, create barriers within an organisation and attract crippling fines.

At PwC, we understand that compliance isn’t an afterthought. It’s a critical function that can impact everything from strategy and operations to future growth. We worked closely with a major global gaming organisation to significantly uplift their anti-money laundering (AML) program and procedures, which in turn sparked an uplift in compliance across their business. We also helped incorporate risk assessment measures in their processes that were aimed at proactively detecting — and mitigating — future issues.

By empowering the organisation to take a best-in-class approach to compliance, rather than the usual ‘tick the box’ approach, we helped them regain the trust of regulators around the world. We also turned risk resilience into a competitive advantage, creating the strongest position for achieving growth ambitions in the process.

Turning Anxiety into Opportunity OR Setting the Stage for Change

Turning Anxiety into Opportunity

Today, change is the only constant. From technological shifts to environmental evolution, the ability to manage flux has become as central to business success as vision and strategy. Unfortunately, this reality can see many organisations freeze with indecision — rather than harnessing the many possibilities that could arise.

PwC understands that inaction isn’t an option when it comes to our fast-moving world. For a leading industrial products company, we tapped into our multidisciplinary team of experts and mapped out future scenarios associated with climate change. We then explored the risks and the opportunities that could help transform future obstacles into avenues for growth and innovation.

Crucially, we co-created our approach, collaborating closely at every stage of the journey, managing stakeholders and identifying potential outcomes.

We helped the organisation champion a climate change strategy that’s proactive rather than reactive and absorbs uncertainty as part of the process. Working together, we turned a root of present-day anxiety into the seeds of future advantage.

Rethinking the fallout from fraud

Rethinking the fallout from fraud

In the modern-day organisation, honesty and transparency aren’t just value statements. They’re essential qualities that are intrinsic to building customer relationships and cultivating trust. That’s why the detection of fraud — from the non-disclosure of gifts to illicit payments — can do irrevocable damage to a company’s reputation, a fact exacerbated by the 24-hour news cycle. It can also inadvertently create patterns of behaviour that negatively impact workplace culture.

At PwC, we understand that although fraud may stem from the actions of one or two individuals, its consequences are widespread. For a major government organisation, we combined a deep knowledge of forensic accounting and insights from a multidisciplinary team of experts to uncover a serious instance of corruption and fraud — one that was costing money and risked hurting the company’s hard-won public credibility. Our access to best-in-class fraud detection technology also helped deliver the real-world evidence that’s key to the resolution of criminal investigations.

This partnership empowered the company to create new policies, procedures and systems that put values such as ethics, accountability and transparency front and centre, saving it significant costs going forward. We helped the organisation regain the confidence of the public and emerge from this crisis, clear-eyed and fit to tackle future challenges as they arise.

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Contact us

Nicole Salimbeni
ASEANZ Risk Consulting Leader, PwC Australia
Tel: +61 2 8266 1729
Email

Malcolm Shackell
Partner, PwC Australia
Tel: +61 2 8266 2993
Email

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