Winner: Nigel Tay, StarHub
A senior executive at major Singapore telco StarHub, Tay is responsible for the company’s ERM and insurance management functions.
Tay has created a revamped top-down, bottom-up ERM framework that adopts a comprehensive yet practical approach to mitigating StarHub’s risks. This has created a risk universe in which multidisciplinary risk information is obtained via numerous one-to-one risk interviews and workshops.
Tay’s impressive list of initiatives includes:
A comprehensive interview regime to distill perspectives from the chairman, CEO and CFO on utilising ERM as a tool to meet the company’s strategic goals.
Reassignment of non-core ERM roles (e.g. CorpPass).
A refreshed and prioritised list of top risks, which were identified and assessed in consultation with StarHub’s Board Risk Committee members and senior management, and supported by bottom-up risk assessments conducted by the respective business unit managers.
The instilling of a risk-aware culture through numerous changes, among them making ERM
as an onboarding item for StarHub’s monthly induction program for new employees, and ensuring the ERM team is now viewed as a platform for risk managers within the organization to surface and escalate key risks where decision making from management is required.
Successfully implementing an overhauled StarHub’s ERM framework and improving StarHub’s insurance program through a detailed work plan with measurable results and timelines. Tay has displayed significant learning agility to grasp the concepts and execution needed in this major overhaul of the ERM programme.
Obtaining the necessary stakeholder buy-in to revamp the existing ERM framework and insurance program. Considerable e ort was required to influence legacy processes and activities in these areas.
WHAT THE JUDGES SAID
”A promising star in the field of risk management.”