Enterprise Compliance Today

Greg Carroll

Greg has established his credentials in ERM and Compliance Management both as a director of Fast Track Enterprise Risk & Compliance Software, working with the likes of Motorola, Fosters and Serco, and in his 2013 book "Mastering 21st century Enterprise Risk Management". Greg regularly publishes articles on all matters around Governance, Risk and Compliance, at www.fasttrack365.com/blog
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Recent Posts

Social Responsibility is the New Black in Risk

Posted by Greg Carroll on Mon, Jul 11, 2016 @ 12:51 PM

Even more than reputational risk or cyber risk, social unrest is lining up to be a greater disrupter than any other issue. From Brexit to ISIS to race relations, civil unrest is shaping up to have a profound impact on business.  For the management of uncertainty on business objectives to be truly effective then risk needs to also include all items that disrupt the marketplace.  As such, Social Responsibility is the primary strategy to ensure business resilience.

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Tags: ethics

Brexit and the failure of ERM

Posted by Greg Carroll on Mon, Jun 27, 2016 @ 02:27 PM

I have often written on my view that there is an over emphasis these days on Black Swans in risk management. The Brexit vote on Thursday not only shot shockwaves through financial markets but has created a whole new paradigm to world economic stability both short and long term.  And if Risk is defined as uncertainty then as of today, this must be one of our greatest risks.

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Tags: corporate governance, risk identification, risk management

Demystifying Risk – Life vs Death

Posted by Greg Carroll on Sat, Jun 25, 2016 @ 07:22 AM

Risk management is suffering from too much consultant-speak – mystifying what is a standard business practice. When inducting new staff in the concepts of risk management, I use the most obvious analogy which clarifies the issues simply: that of our own mortality.

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Tags: corporate governance, risk management

Behind compliance management failures at Mitsubishi, VW, Target

Posted by Greg Carroll on Fri, Jun 17, 2016 @ 03:15 PM

2016 has seen a virtual tsunami of compliance failures involving some of our largest companies. From Mitsubishi to VW, from ANZ to Target, almost weekly there have been media reports about some company employees having run amok – unbeknownst to their executives and boards. People are asking: “What happened to the compliance management systems that are supposed to monitor and prevent such abuses?” Executives and boards are naturally starting to question the entire compliance management function. 
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Tags: Best practices, corporate governance, Compliance Management

Compliance Manager role in modern organizations-Empower decision makers

Posted by Greg Carroll on Mon, Sep 07, 2015 @ 07:14 PM


The Compliance Manager’s role in the modern organization is to enable/empower decision makers to take action and leave the building defensive walls to the Risk Manager with his heat maps. So how can compliance managers start realising their value adding role?

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Tags: Compliance Management, Quality Management, decision making

Napoleon’s Lessons in Strategic Management

Posted by Greg Carroll on Fri, Aug 14, 2015 @ 01:01 PM

With 2015 being the 200th anniversary of the Battle of Waterloo and having a man-crush on Napoleon B, I have taken this opportunity to revisit some of lessons we can learn (good & bad) from his 20 year reign as master of the universe.

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Tags: risk management, Strategic Management, leadership, risk culture

How to Implement Risk Based Audits & Inspections

Posted by Greg Carroll on Sat, Jul 18, 2015 @ 05:40 PM

With the release of the Final Draft of ISO9001:2015 this week and its focus on risk-based Compliance Management, I thought I would share our approach to Risk-Based Auditing from our experience with the likes of Defence Aviation and the Australian Quarantine Inspection Service, both leaders in the field.
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Tags: Best practices, Compliance Management, risk management, Quality Management, Compliance Audit

The 4 Biggest Mistakes in Compliance Management

Posted by Greg Carroll on Fri, Jul 03, 2015 @ 11:53 AM

Mere compliance with a Framework is an insufficient audit approach; it is critical to assess whether it is current, timely, communicated broadly, and meets the needs of the business. The 4 biggest mistakes are: 
  1.      Not being Outcome focused
  2.      Not using Risk base targeting
  3.      Not Value Adding
  4.      Not being timely
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Tags: Best practices, Compliance Management, Compliance Audit

How to Identify Corporate Risks in ERM

Posted by Greg Carroll on Fri, Jun 26, 2015 @ 03:16 PM

An effective Corporate Risk management system (or ERM) requires developing a detailed inventory of all the drivers and influences and how they affect the organisation.  It requires a methodical and introspective commitment to fully understand what makes things tick, but as with most things, a bit of effort upfront produces a lifetime of benefits.

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Tags: corporate governance, risk identification

Why Corporate Governance is broken and how to fix it

Posted by Greg Carroll on Thu, May 28, 2015 @ 11:23 AM

Why, with the number of fertile minds that exist in our field, is it still a case of an irresistible force meeting an immovable object.  The paradox I believe, like our would-be entrepreneurs, is one of approach.

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Tags: corporate governance, Compliance Management, risk management