Pursuing Business Vitality – Get your First Line Assurance sorted and soon!
28 October 2022
Financial service businesses across New Zealand face new and unknown risks and thus new and untapped opportunities. The need to pursue Business Vitality has never been greater.
Risk management and assurance is no longer about simply minimising risks and protecting value; this traditional risk stance has had to evolve and rightly so. This means proactively pursuing better ways of working, to make unknown risks known, to pre-empt and treat those risks to enable businesses to not simply survive but to thrive.
Lessons from LEGO for Risk Management
26 October 2022
Lego, the coloured plastic brick, needs no explanation – it has existed for more than 60 years, is in every respectable toy shop around the world, has theme parks almost literally built out of it and even has Marvel & DC Comic movies based around its brilliantly coloured bricks.
A Lego brick on its own is nothing special. But link some of them together, and you could end up with anything from a medieval castle to a pirate hideout or a spaceship. Similarly, good effective risk frameworks should be fashioned from a number of simple, repeatable processes that can be integrated and adapted and scaled with developments in your business over time.
Good conduct is good business
20 October 2022
A UK think tank study in 2014 estimated that between 2010-2014, 25% of UK banks’ (ref. 1) pre-tax profits were attributed to consumer redress and associated administration costs.
This same review identified that 3 of the 5 largest had retail misconduct costs that were more than dividends. In New Zealand, we haven’t seen the same level of systemic misconduct as the UK or Australia, but it is clear that financial institutions are also paying for the outcomes of decisions made years ago.
Righting the Wrong – Customer Remediation
30 August 2022
Remediation best practice and pitfalls are once again in the spotlight with the Commerce Commission’s consultation on its draft guidance and Waka Kotahi making news for its vehicle registration refund letters. The need to make good for prior errors, omissions and failures can be a vexing exercise for those ill-equipped. But it can also be the experience that strengthens trust and builds enduring customer relationships.
Mosaic opens door on privacy training
Privacy is having a moment.
Following an incessant flow of data breaches and the unauthorised release of personal information in recent years, governments across the world have created new legislative and regulatory regimes designed to protect consumers.
Mosaic names NZ wealth veteran as partner
Respected financial services industry figure, Tracey Berry, has added to the growing partner ranks at specialist consulting firm, Mosaic Financial Services Infrastructure.
Berry, most recently on contract as regulatory compliance manager for TSB, has a long history in the bank-based wealth management sector.
Mosaic reveals privacy hires
Privacy entrepreneurs Mark and Caroline Carver have joined fast-growing specialist consulting business, Mosaic Financial Services Infrastructure.
The Carvers will provide privacy consulting and training services to Mosaic clients as demand for personal data security rises in the increasingly digitised financial sector.
Former Perpetual Guardian chief takes partner role at Mosaic
Mark Jephson, ex Perpetual Guardian chief, has joined Auckland-based specialist firm, Mosaic Financial Services Infrastructure, as partner.
Mosaic founding partner, Myles Allan, said Jephson – who led Perpetual Guardian for almost two years ending August 2020 – would “add a complementary layer of expertise” to the consulting business…
Kiwi Wealth invests for the future – MMCNZ
Mosaic names ASB ops expert as partner
Mosaic Financial Services Infrastructure named Catherine Fletcher as partner in February – the fifth to earn the ranking in the fast-growing Auckland specialist consultancy firm.
Fletcher comes to Mosaic following an almost 11-year career at ASB where she was most recently general manager payments, operational support and service.
Buisson boosts Mosaic fintech power; Taylor returns to fund-running at Pie
On being prepared: how BCPs have worked in lockdown
Mosaic snares NZ Funds COO as partner; Stechman resigns Harbour board; ForBar buys lakeside advice firm
Industry climate change: why 2019 will be the hottest year on record for NZ financial services
Financial consulting firm boots-up staff numbers as tech demand rockets
Auckland-headquartered financial technology consulting and implementation firm, Mosaic, has added half a dozen staff over the last few months as the digital transformation trend sweeps over the NZ industry.
Myles Allan, founding partner of the firm officially known as Mosaic Financial Services Infrastructure, said businesses across the sector were under pressure to update their technology… READ MORE
Morningstar sounds death knell for single-use robos
Resistance wasn’t futile: the first wave of disruptive robo-advisers has failed to breach the status quo, a recent Morningstar analysis has confirmed. Myles Allan, founder of Auckland-based consultancy firm Mosaic Financial Services Infrastructure, said the Morningstar research “aligns with what we’re seeing in the market”. READ MORE
Robo Advice to Cover the Spectrum of NZ Consumers
Scoop – Wednesday, 20 December 2017
Press Release: Mosaic Financial Services Infrastructure
New digital advice (DA) services expected to arrive in NZ next year will benefit a range of consumers from beginner investors through to high net worth individuals, according a new white paper published by Auckland specialist consulting firm, Mosaic Financial Services Infrastructure… READ MORE
Advice for robots: new white paper fills in blanks for NZ industry
Early next year the Financial Markets Authority (FMA) stands ready to welcome the first generation of fully-personalised (but potentially dehumanised) financial advice robots to NZ shores… READ MORE
Industry tech redesign puts Mosaic in the picture
Specialist NZ consultancy firm, Mosaic Financial Services Infrastructure, has doubled turnover over the previous 12 months as the industry looks to install technological upgrades across the value chain… READ MORE