Mastering Risk Management Podcast · Anthony Wilson

MRM 117 - Mini series episode 2

·24 min·1 clip

Andrew Wilson describes rolling out risk software as "an evolution rather than a revolution," starting with a top-line brain dump.

1. Mastering Risk Management episode 117, the second part of a mini-series on CGRF risk management software, features a client case study from Fun Lab, an entertainment operator with 55 venues. 2. Host Anthony Wilson is joined by Leo Arruca (General Manager of Australia for CGR), Brett Palmer (founding partner of ABM Risk Partnership), and Andrew Wilson, Fun Lab's CFO, who also appeared in episode 51. 3. The central thesis is that software should serve a maturity journey, with Brett Palmer saying "the system in itself wasn't the objective" and risk management acting as "a surrogate for corporate knowledge." 4. Andrew describes Fun Lab's growth over 23 years from Strike Bowling on Chapel Street to brands such as Holy Moly, Archie Brothers and Hijinx Hotel, and says risk was previously managed "on a situational basis" before being formalized under TPG Capital's ownership. 5. He explains that the implementation began as "a brain dump into a framework," with filtering of non-material risks, a multi-month timeline, and one or two internal champions using a train-the-trainer approach. 6. Leo Arruca agrees that customers should avoid going "from here to there in one go," noting that some customers with big aspirations go "full on" but that step-by-step rollouts yield better long-run results. 7. Asked about financial benefit, Andrew calls the software an investment rather than a profit source, while Brett adds that quality data helped ABM develop a strategy for presenting risk management to insurance markets, with evidence replacing insurer surveys. 8. Andrew advises peers to pick a specialist risk vendor rather than a broader governance product, and to favor software that needs the least training, comparing ideal usability to his children picking up an iPad. 9. On international expansion, Andrew raises the choice between a countrywide approach and adapting each country to the existing framework, and Leo says regulation is "the pinch point" for keeping a consistent approach across borders. 10. Suited to risk managers, CFOs and software buyers weighing a first risk system.

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