Many businesses yearn for an environment of predictability and stability where progress and growth is assured. However, the outlook for 2016 is likely to be unpredictable and in a best case scenario, lacklustre. History has proven that tackling the Vulnerable, Uncertain, Complex, and Ambiguous (“VUCA”) world is best approached through a cautious but opportunistic mindset. What do we mean by this? A business owner and leader needs to undertake three key steps in order to be better prepared for 2016:
Past achievements and successes are no certainties for the future. One has to take time to analyse the drivers and ingredients that made your business successful, and retain the traits that will be needed for the next lap. One needs to analyse the existing business model, strategy, and people that presently make up the business to determine what works and what will not for the future.
Today’s largest hospitality provider has no room inventory and today’s largest taxi company owns no cabs. We are living in a world where technological disruptions almost immediately change the entire face of the game. First movers will retain a strong advantage, while those who are tardy in reacting risk facing obsolescence. After deep reflection, the next phase is REINVENTION. Ask yourself what customers want, where the future lies and whether you have the financial and operational capabilities to make progressive and major changes to the business. The main reason for failure in the VUCA environment is inability to embrace technology — particularly digital infrastructure and tools that can be “disruptive” — to better understand and serve your customers.
Join our Risk Advisory experts and our distinguished panel of corporate and academic leaders as we explore what it takes to ride this wave of uncertainty, identify the vulnerabilities and unlock the key traits that entrepreneurs and business leaders of today need to fortify in order to be ready for tomorrow.
By Tay Woon Teck, Head, Risk Advisory, RSM
|9:30am||Navigating volatile markets
Guest speaker from a Singapore bank
|9:50am||Disruptive technology innovation – Opportunities & pitfalls
By Cheah Wee Teong, Director, Risk Advisory, RSM
|10:10am||Innovate & transform to stay ahead
By Ho Wen Jun, Senior Officer, Capabilities Promotion, SPRING Singapore
|10:50am||No deal should be done without Handshakes – Using technology to build a multinational business
By Daryl Neo, Director & Co-founder, Handshakes
Panel discussion: Governance — Don’t forget to do the right things when times are tough
|12:00pm||End of Programme|
|Date:||26 January 2016 (Tuesday)|
|Time:||9:15am – 12:00pm (Registration starts at 8:30am)|
8 Wilkie Road, #03-08, Wilkie Edge,
Fee Per Pax:
Invited guests of RSM & SPRING Singapore: Complimentary*
|Who should attend:||Entrepreneurs and Business Owners, C-Suite, Board Members|
|Organisers:||RSM & SPRING Singapore|
About the Speakers:
Prof. Gunter Dufey
Professor Emeritus of The University of Michigan Ross School in Ann Arbor, Michigan, USA
Consultant at the faculty of Banking and Finance, Nanyang Business School (NTU), Singapore
Gunter Dufey, or “GD” as he is known among friends and colleagues, is Professor Emeritus of The University of Michigan Ross School in Ann Arbor, Michigan, USA and Consultant at the faculty of Banking and Finance, Nanyang Business School (NTU), Singapore, where he taught since 2000 to date. Parts of his academic career were spent at Stanford (USA), University of Texas (USA), Wirtschaftsuniversität Wien (Austria), St. Gallen (Switzerland) and Universität des Saarlandes (Germany) where he was appointed Honorary Professor. From September 2001 to February 2003, he was with McKinsey and Co. in Singapore, supporting the firm’s Corporate Governance practice in Asia.
His research interests focus on risk management, international financial markets and corporate governance. He has published widely.
Parallel to his academic career, he worked for extended periods with a number of multinational companies and government agencies, such as Dow Chemical, the US Department of the Treasury, Texas Instruments, the Ministry of Finance — FAIR in Tokyo and the Pacific Rim Bankers Program, Seattle, USA. He continues to serve on the Boards of Guinness/Atkinson, USA and until recently, on several subsidiaries of Ally Financial (GMAC), Detroit and Toronto. He participates in managing the portfolios of several foundations. Gunter has been a member of the Singapore Institute of Directors and an active participant in the programmes of the Asian Corporate Governance Association. He also currently serves part-time as Executive Director of EDUCATION EXCHANGE LTD, Singapore. Throughout his career, he has been actively engaged in Executive Education.
Director & Co-founder, Handshakes
Daryl is a co-founder of Handshakes, a corporate data analytics platform that he started in 2011. Over the years, Daryl has helped Handshakes grow from a small Singapore start-up into a multinational small-medium enterprise (“Multinational SME”) with a presence in 5 Asian countries. In 2015, Handshakes did its first round of fundraising with Singapore Press Holdings (“SPH”), which invested in a 20% stake.
Daryl worked at the Singapore Exchange Ltd (“SGX”) from 2009 to 2011. He was a regulator in the Issuer Regulation department of the SGX, where he reviewed the IPO applications and post-listing compliance of Consumer Goods and Oil & Gas companies on the Mainboard. Daryl was involved in various technology projects for the SGX. He was in charge of managing the Risk Management & Regulation Group’s knowledge management database and business continuity processes.
Daryl graduated from the Nanyang Business School (NTU) in 2009 with Banking & Finance. He was President of Business Solutions, NTU’s Business Case Club, and led the first Asian team to win a prestigious case competition in North America.
Ho Wen Jun
Senior Officer, Capabilities Promotion, SPRING Singapore
Tay Woon Teck
Head, Risk Advisory, RSM
Woon Teck currently heads our Risk Advisory division. He works closely with Boards and the C-suite in designing a risk management framework that links corporate strategies to risk management activities, corporate governance and internal control activities.
As an Adjunct Faculty Member in the Singapore Management University, Woon Teck teaches Corporate Strategy, Mergers & Acquisitions and Raising Finance modules in the School of Accountancy’s Bachelor of Accountancy and Master of Professional Accounting programmes. He is invited as a guest lecturer in the National University of Singapore’s Master of Business Administration and Bachelor of Business Administration programmes to share his practical insights on “Managing Cross-border Investment Risk”.
Woon Teck was a member of the corporate finance committee of the Singapore Investment Banking Association. He was a member of the taskforce under the ACE Finance Action Crucible to review the issues of financing for internationalising SMEs. He was also the author of “Financial Handbook for SMEs”, a joint publication by SPRING Singapore and the Association of Banks. In 2014, he co-authored a workbook on “Risk Governance for the Third Sector” to guide the Boards of the Third Sector in getting started on implementing effective risk governance and internal control practices. In 2015, he co-authored the “Doing Business In ASEAN – ASEAN Economic Community 2015” Guidebook jointly published by RSM, Rajah & Tan Asia and United Overseas Bank. He is currently a member of the committee formed by SPRING Singapore to develop a Technical Reference for Management Consultancy Services businesses.
Woon Teck is a Fellow Chartered Accountant of Singapore, a Fellow of the Singapore Institute of Directors, a Fellow of the Chartered Management Institute (UK), a member of the Insolvency Practitioners Association of Singapore Limited, a member of the Institute of Internal Auditors and a qualified CRMA (Certification in Risk Management Assurance).
Senior Director, Risk Advisory, RSM
Sovann is Senior Director of Risk Advisory where he advises and conducts training for boards on effective board oversight, corporate governance, listing rules, risk management, charity regulations, growth planning, M&A, profit improvement, family governance and succession planning. He also assists boards in conducting board effectiveness reviews to improve corporate governance practices, and acts as an independent coordinator for board performance evaluation.
He is the lead independent director, chairman of the audit & risk committee, and a member of the nominating and remuneration committees of a company listed on the Singapore Exchange. In addition, Sovann is an independent director, chairman of the audit committee and a member of the risk oversight committee of a bank. He is also an audit committee member of a registered charity. Sovann had previously served as Executive Director and Chief Financial Officer of several Singapore-listed companies.
In addition, Sovann was Executive Director of the Singapore Institute of Directors where he also sat on the Organising Committee of the Singapore Corporate Awards and co-managed the Best Managed Board Award for Singapore-listed companies. He had also written many articles on independent directorship, internal control and risk management.
He started his career as a public accountant in Canada and had extensive audit and tax practice experience with a Big 4 firm in Canada and Singapore. After leaving the public accounting practice, Sovann served as a senior executive in an MNC, a regional conglomerate and Singapore-listed companies. With more than 30 years of operational and financial management experience in many industries such as aerospace, F&B, flexible packaging, mining, oil & gas, real estate, telecommunications, and trading & distribution, Sovann is well positioned to help companies enhance their strategic value.
Cheah Wee Teong
Director, Risk Advisory, RSM
Wee Teong has more than 20 years of professional and commercial experience with globally recognised international public accounting and consulting firms, as well as multinational corporations based in the United States and Asia (Hong Kong and Singapore).
He has extensive experience in leading and managing service delivery. Wee Teong also advises boards and senior executive management on corporate & IT governance, risk management and compliance, using accepted frameworks and standards (COSO, COBIT, ISO, and Sarbanes-Oxley). His experience includes the provision of a wide range of assurance and advisory services — risk assessment, board training, internal control review, special investigations, due diligence, compliance, SOX 404, IT audit and consulting. Wee Teong is also an active author and speaker on governance, risk, compliance and technology.
For enquiries, please call 6594 7623 or email yaplisun@RSMSingapore.sg.
Note: The organisers reserve the right to change the venue, date and programme due to circumstances beyond our control.