Tricor Roots Consulting launched its inaugural Singapore Client Gathering on 9th June 2009. The event was organized as an intimate informal knowledge sharing session to enable Singapore-based clients to network and share best practices in ERM and on the use of the Q-RADAR system.

Some of the key topics discussed during the gathering included issues related to:

• Challenges in inculcating Risk Management throughout the organization
• Scope of the Risk Management function and role differentiation between Risk Management, Compliance & Internal Audit
• Different Risk Assessment approaches and its various advantages and disadvantages
• Sharing of various risk strategies adopted to manage major issues such as the H1N1 outbreak
• Different uses of Q-RADAR, and the cascading to the users across the organization

In terms of the use of Q-RADAR, both Ralph Chan and Nicholas Tan of Singapore Technology Telemedia (STT) shared their experience on how the Corporate Digital Assurance (CDA) module has helped to inculcate the risk management culture at STT through its approach to enforce personal accountability for risk management at each level of the organization.

Significantly, through its "data snapshoting" process, the CDA enables the tracking of information changes in its Risk Register from one period to the next. This has enabled it to focus on key exception items rather than looking at a voluminous Risk Register.  The CDA has therefore greatly simplified the reporting process for monthly risk reporting.

Among some of the of the other clients that participated in the Gathering included Fraser & Neave (F&N) Group, MediaCorp and Powerseraya. Tricor Roots is appreciative to our valued clients for the highly participative and informative session. Given the success of the inaugural Singapore Client Gathering, we hope to conduct more of such sessions for Risk Management professionals in the future.