The Risk Management Association is considered the premier association for risk management professionals in the Australian financial services community. Reflecting the growing professional development needs of their members, they aim to attract new members to the community by extending the range of events on offer, establishing special interest forums across the spectrum of risks, and bringing a wider range of resources to their membership via on-line services. You can read about them more here.
We interviewed RMA’s Executive Director, Richard Gilbert, to talk about how our processes have helped them achieve their organisational goals and to hear about what is on the horizon.
What was the motivation for outsourcing your accounting?
I came into RMA with Accounting for Good already managing our finances. Clearly, accounting is not our core business, so to have an outsourced service that is highly professional and cost competitive it fantastic. Outsourcing is a highly considered decision for any organisation but I think AFG exemplifies how good it can be.
Before joining forces with AFG, what were some of your finance pain points?
Before partnering with AFG, we had a number of pain points. Preparation of financial documentation that was of a high enough standard for audit, understanding our tax and reporting obligations, and lacking access to skilled finance professionals are amongst them.
How did AFG help to alleviate these issues for you?
AFG has great people working on all of RMA’s day to day processes. The staff are of a high calibre and whenever a problem does arise (which is rare), there are quality supervisors managing the resolution. Beyond their friendly approach to the books, they are also technically skilled. AFG has a great hold on new accounting software and they administer Xero very well. With AFG, we have had five clean and seamless audits. We trust that when AFG is working on our finances, that they will be done well.
Do you have an anecdote of a time that AFG helped to solve a tricky/frustrating/persistent problem for you?
Neil has been a constant problem solver for us. Issues with banking signatories and invoice payments were resolved by Neil through thorough research and digging. He is always willing to share financial intelligence with me and he is methodical and diligent when it comes to making payments and picking up repeats and mistakes. Plus - he too loves the round ball game so we always sneak some soccer chat into our communications!
What's on the horizon for RMA - challenges or goals for the future?
As always, we are working to ensure that our members have access to professional and high quality development opportunities. Watch this space!