Investor Presentaiton
Appendix 3 - APRA risk governance self-assessment lessons
2018/2019 has reinforced the
importance of trust and doing the
right thing by customers, the
community and shareholders.
Suncorp has reflected on the
lessons learned and is committed
to building a more responsible
and resilient company.
Orientating around a natural disaster
Suncorp people respond well in times of
crisis (e.g. the Brisbane floods and
Cyclone Yasi), often being the first on the
ground helping our customers recover.
This focus on orienting around a challenge
can divert attention away from the delivery
of operational excellence in the day to day
running of the business.
Prioritising non-financial risk
Following the Global Financial Crisis,
Suncorp has focused on managing
financial risk including ensuring the
financial stability of the organisation.
This may create the potential for Suncorp's
people to perceive that non-financial risk
does not have the same priority.
Complex operating environment
Suncorp's operating environment has become
complex with examples of policies,
procedures and systems having evolved and
being added to over many years.
This complexity manifests in Suncorp's
people needing to exercise judgement to do
the right thing, which may lead to
inconsistencies.
Clarity of accountability
Within the Group's operating model there are
examples where Suncorp's people don't fully
understand their accountability.
This lack of clarity may impact the quality and
speed of decision making by Suncorp's
people.
SUNCORP
Capital Notes 3
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