Lyn Hodgden is Head of Enterprise Risk Management at CSL Limited, an ASX biotechnology company. Having been a valued Risk Leadership Network member for the last two years, as part of CSL's corporate membership, we caught up with Lyn about her experiences in risk management and our network.
Meet Lyn
1. What's your role at CSL? Can you describe your main responsibilities?
I am the Global Head of Enterprise Risk Management responsible for creating and ensuring the execution of our Enterprise Risk Management Framework.
2. How did you get into risk management? And what do you enjoy about it?
My background is in Environmental, Health and Safety where risk management concepts are extensively used. However, in 2010 I moved into my first role as a dedicated risk professional at another company.
I was the Risk Leader for a manufacturing site, a member of the global risk network, and even took on a special project as the raw material risk lead for the company. The role gave me visibility to many functions across the enterprise vs the narrow focus I had in EHS.
What I really enjoyed was seeing the value in how risk enabled decision making across the company. It was fortunate timing for me as the company I was working for had really embraced risk management, requiring risk involvement in a broad range of decision-making processes.
3. What are the main challenges facing risk leaders in the years ahead — and in your sector specifically?
A general challenge that many companies seem to face is the ability or willingness to commit the risk resources needed to really see the value of risk management.
I was fortunate in my previous company experience that there was recognition at a very senior level that understanding risk was critical in the decision-making process. As a result, dedicated risk resources were embedded throughout the organization to facilitate risk assessments — and there were expectations that the business supported these assessments.
As I talk to other risk professionals, I find this level of resourcing is rarely achieved which really limits the number of risk assessments you can do.
4 "If I wasn't a risk leader, I would be..."
Hmmm, an area I have always been interested in is Supply Chain.
CSL's membership with Risk Leadership Network
5. How long has CSL been a member of Risk Leadership Network? And why did you join?
We are in our second year of membership. Our Chief Risk Officer was referred to RLN by another Australian CRO that was already a member and said it was very beneficial to them and their team. CSL then joined as we were looking at various subscriptions and networks and RLN provided a unique offering as it related to expanding our network and access to Bespoke Assistance.
6. What's the biggest value-add you get from membership?
The greatest value would be:
- Expanding our network
- The knowledge we gain from other members who have practical experience they can share. There are endless 'academic' resources out there but being able to get insight regarding actual application has been invaluable to us.
7. Aside from refreshing risk appetite, can you describe how Risk Leadership Network helped you with a specific challenge?
Connecting members on a specific topic is extremely helpful where we can gain insight from what has/hasn't worked from others. Examples are risk appetite, emerging risk, horizon scanning.
8. Is Risk Leadership Network worth the membership fee?
Absolutely.
9. What would you say to anyone thinking of joining Risk Leadership Network?
I would highly recommend it.
Lyn's engagement manager
Upon joining Risk Leadership Network, Lyn's risk team was given a dedicated risk engagement manager from our team. Through onboarding and regular catch-ups, Risk Leadership Network has worked to gain a clear understanding of CSL's risk priorities and facilitates targeted collaboration to support the team and Lyn directly.
Lyn and her CRO are making great use of the network through our Bespoke Assistance service and through collaborating at member meetings. They are passionate about risk management and are helping other members' priorities too, by sharing their experience and approach. They know instinctively when to call on their risk engagement manager to help deliver peer insights. "
Benedict Lam
Senior risk engagement manager, Risk Leadership Network
How to join Risk Leadership Network
Find out more about how you can join Risk Leadership Network too:
- Watch a 2-minute intro video
- See real-life case studies of ways we've supported our members
- Find more information about membership
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