Risk experts welcome RC report

The Actuaries Institute has joined the chorus welcoming the Royal Commission’s final report, saying that it looks forward to assisting the Financial Service Reform Implementation Committee in rolling out the recommendations.

“The Institute fully supports the cultural change that has been advocated by the Royal Commission and demanded by the public,” Institute chief executive, Elayne Grace, said.

“The report examines some enormously complex issues and the Institute will take measured steps to assess the recommendations and determine how the actuarial profession can help industry achieve better outcomes for consumers.”

Grace believed that the organisation and its members would bring expertise in managing risk, including cultural and non-financial risk, to the implementation.

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