Risk Management & Compliance
Herron Todd White is at the forefront of our industry with our ground breaking, integrated and comprehensive risk management tools and systems.
We view risk management as integral to our objective of creating and maintaining value and the successful execution of our strategies. Our risk management philosophy carefully considers the risk and reward relationship in the management of all our activities.
Our Risk Management Policy and processes form part of our corporate governance and internal control arrangements and support our organisation’s objectives by:
- Promoting a broader risk aware culture throughout the organisation;
- Contributing to more efficient allocation of capital and resources within the organisation;
- Protecting and enhancing assets, company image and shareholder value;
- Identifying any unmitigated risks and formulating action plans for its treatments; and
- Ensuring compliance to legislative requirements and code of practice.
We also believe successful risk management requires the maintenance of a culture that encourages employees and managers to communicate risk management issues, concerns and recommendations without fear of retribution.
We have developed an internal control environment which provides assurance that the risks we face are maintained at acceptable levels. We do this through focusing on the effectiveness and efficiency of our operations; the reliability of our financial reporting; and our compliance with applicable laws and regulations.
We have adopted a ‘Three Lines of Defence’ model which plays an important role within our wider governance framework. Management control is the first line of defence, the various risk control and compliance oversight functions established by management are the second line of defence, and independent assurance is the third.
The Finance, Risk & Audit Committee is responsible for the continuous improvement and facilitation of risk management processes, systems and activities that assist Directors and Officers to identify, monitor and manage at an acceptable level principal risks to our organisation.
The Committee assists us with corporate and operational risk profiling, putting strategies in place to further increase the internal control environment, monitoring legislative and professional practice compliance, overseeing internal auditing of key systems, overseeing insurance, and ensuring Crisis Management Plans and Business Continuity Plans are in place.
Our quality assurance program ensures that we are constantly striving to improve our systems and processes and support our employees to enable them to deliver quality, professional valuation services. We have implemented a robust, industry-leading QA system to ensure valuation accuracy across our service delivery network. This system comprises a number of key components, including documented quality processes and procedures, and formal quality reviews of valuations and runs in conjunction with the continuous improvement principles of ISO9001.
Herron Todd White utilises leading technology and up to the minute market data to ensure our clients receive exceptional service and superior advice. We invest heavily in technology, with a bespoke valuation management system and a dedicated, comprehensive in-house IT capability. We are truly committed to continually improving our valuation services through the effective use of technology.
Our aim is to have an injury free workplace. At Herron Todd White we believe all injuries can be prevented by a determined effort by each of us to ensure that the work we manage, supervise or perform is done safely.
Herron Todd White’s Work Health & Safety Management System has been developed in conjunction with the continuous improvement principles of AS/NZS 4801 and is compliant with each State and Territory’s legislative requirements.
Our commitment to corporate responsibility and sustainability means managing environmental, social and economic risks and responsibilities and capitalising on opportunities to deliver sustainable development and investment outcomes for the benefit of our stakeholders and the broader community.
We recognise that acting in a responsible and sustainable manner creates new opportunities, enhances investor value, and improves social and environmental returns. Herron Todd White's policy encompasses our commitment to corporate responsibility and sustainability, and directs further change across all our Group activities.
Herron Todd White has developed crisis management and recovery plans to ensure we can quickly adapt to disruptions while maintaining continuous business operations and safeguarding people, assets and overall brand equity for our clients. Working under the principles of ISO 22301, our management framework focuses on three main areas:
- Resilience: our critical business functions and the supporting infrastructure are designed in such a way to be unaffected by unplanned disruptions;
- Recovery: we have detailed recovery plans to restore critical and less critical business functions that may fail; and
- Contingency: we ensure capability and readiness to cope effectively with whatever major incidents and disasters may occur.
We aim to manage information security risks in order to protect our clients' information and assets during the course of our business dealings.Using the principles of ISO 27001, we employ a 'Defence in Depth' framework; whereby multiple layers of security controls are placed throughout our information technology system. Our layers of defence include policies, procedures and training; private network; secure hardware in our offices; secure infrastructure; two factor authentication; and highly available firewall.