RSM Australia

Our People

Jeremy Elman
Principal - Sydney

Biography

Jeremy has over 10 years’ experience in the UK and Australia managing consulting, audit and assurance engagements across a variety of industries including telecommunications, media/entertainment, events management, sport, aviation, and financial services.

Prior to RSM, Jeremy was an assurance manager with a ‘Big 4’ firm where he had been for over 7 years.

He has a high attention to detail and is able to add value and insight through an extensive understanding of financial reporting, operational risk, compliance, data and process efficiency.

Solutions JEREMY Provides

Jeremy leads the delivery of engagements and is accountable for service efficiency, effectiveness and quality. 

He has undertaken a variety of assurance and advisory projects and provides innovative and practical solutions in relation to:

  • financial and operational assurance reviews
  • improvements to internal control environments, systems and processes
  • internal audit and risk management reviews
  • internal and external compliance engagements

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Significant Projects

  • Implemented the Strategic Internal Audit Plan at OneVue Holdings Limited and Deseret Superannuation Fund including mandatory prudential reviews and AML/CTF Act compliance.
  • Evaluated the business effectiveness of the Library Resource Management Services function against the changes that have taken place in library operations across TAFE NSW Institutes and made recommendations for future operational support models.
  • Performed specific risk and control assurance procedures on Westpac’s HR department, ensuring all control gaps, weaknesses and improvement opportunities were identified and accurately assessed including confirming the appropriateness of the corrective action plans.
  • Served as the primary point of liaison to mid-size to tier-1 organisations, driving strategies that strengthen business controls, mitigate risk and adapt to new regulatory requirements.
  • Embedded an integrated controls (including SOX) approach to assurance engagements, identifying significant risks, key controls and assessing their design and operating effectiveness in order to leverage comfort.
  • Coordinated the risk assessment, control identification, documentation and assessment for the Interpublic Group of Companies on adoption of SOX and Southern Cross Media (then Macquarie Media Group) on acquisition of Channel 10.
  • Assisted Foxtel to develop a financial model and fee structure which would enable third parties to operate on their digital network. This was a complex model which required the involvement of the ACCC and upskilling Foxtel to handle external inquiries.

Jeremy Elman is a Principal in the Risk Advisory division in Sydney, who manages advisory, audit and assurance engagements across telecommunications, media/entertainment, sport, aviation and financial services.

Associations

  • Member, Institute of Chartered Accountants in England
  • Member, Institute of Internal Auditors in Australia

Qualifications

  • Bachelor of Arts (Honours), Computer Science and Mathematics

 

Publications

Post Pandemic - Is your payroll system the next disaster?

1 September 2020
While most employers don’t deliberately underpay employees, errors can occur. Coles, Woolworths, Hero Sushi and MasterChef George Calombaris are the latest in a long line of companies and franchises to be caught in payroll scandals as a result of outdated payroll systems. Errors can also go the other way, with companies inadvertently overpaying e...

How we increase our service offering by adopting an Agile approach

14 August 2020
With our Agile methodology embedded in our day-to-day way of working, we move quickly and easily to meet and exceed your expectations. Using our extensive experience working on major complex projects, having to satisfy multiple stakeholder groups and meet stringent corporate and/or regulatory requirements, we have evolved our service delivery ap...

Culture Drives Risk Outcomes

20 July 2020
RSM partners with Peak Performance International, a Melbourne-based people and culture consultancy, to conduct Risk Culture Indicator (RCI) surveys. When integrated with our bespoke internal audit and consultancy approach these provide a unique level of assurance over, and insight to, the design and effective implementation of a client's Risk Manag...

Webinar: Transitioning beyond COVID-19 | 4 June 2020

4 June 2020
The Transitioning beyond COVID-19 webinar focussed on insights about what you can, and should, do during the recovery phase of the current crisis. Led by Jamie O'Rourke, National Chairman of RSM Australia, the session included presentations from Jerome Mohen (Restructuring and Recovery, RSM Australia), Jeremy Elman (Risk Consulting, RSM A...

Enhanced Business Impact Analysis Methodology

3 June 2020
With the emergence and escalation of COVID-19 as a global pandemic, organisations have been required to implement strategies that respond, adapt, and protect core business functions and their employees. As intensive restrictions and lockdown protocols begin to unwind, many companies are faced with the opportunity to retrospectively analyse what ...

The 'New Normal' - COVID-19 Post-Pandemic Workforce Management

19 May 2020
People are considered a company's most valuable asset, being instrumental to its success and failure. With extensive disruption caused by the COVID-19 outbreak, people have been significantly impacted resulting in workforce management instantly becoming more important than ever. Whilst many organisations have transitioned to remote w...

Business Continuity Plan: Development Methodology

5 May 2020
Business Continuity Plan (BCP) experts at RSM bring some of the deepest and most thorough understanding of underlying risk and incident management issues. This, combined with experience in multiple sectors and tools in crisis management, allows us to assist you in identifying, managing, and recovering from potentially devastating incidents. We c...

IIA Reports - Internal Audit and Pandemics and Better Practice Guide for Financial Services Principles and Recommendations

24 April 2020
The Institute of Internal Auditors (IIA) has released insightful papers on Internal Audit and Pandemics and Better Practice Guide for Financial Services Principles and Recommendations. The papers are good reference guides to the relevant internal audit practices to operate effectively in changing times.    IIA’s Factsheet Internal Au...

CPS 511 and Outcome Based Remuneration

22 April 2020
On 23 July 2019, APRA released a discussion paper on the creation of a new prudential standard aimed at clarifying and strengthening remuneration requirements for all APRA-regulated entities. Draft Prudential Standard CPS 511 Remuneration introduces heightened requirements on entities’ remuneration arrangements in response to evidence that e...

AML/CTF – Managing compliance to prevent another 2019

16 April 2020
In 2019, the reputation of the financial services sector was hit by critical findings from both the Royal Commissions into Misconduct in the Banking, Superannuation and Financial Services Industry and the Parliamentary Joint Committee on Corporations and Financial Services – Fairness in Franchising. In addition, three of the big four ban...

FSEAR - Accountability For (Almost) All

7 April 2020
In the Financial Services Royal Commission Final Report, Commissioner Hayne made 76 recommendations for reform. Of these, 54 recommendations were directed to the Government, 12 to regulators and 10 to industry. The Government agreed to act on all 76 recommendations and made 18 additional commitments. These additions include empowering the Aust...

The myths of digital for the big banks

25 March 2020
Digital. Fintech. Open Banking. Just a few of the buzzwords currently floating around in the banking industry. In the many articles written about these topics over the last year, we have seen just as many statistics that support one view or the other – often convincing and contradicting at the same time. As we work with financial institutio...

RSM Anti-Money Laundering Survey

23 March 2020
In 2018, the first round of amendments to the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Act following the Governments’ statutory review came into effect. These were designed to simplify the AML/CTF Act, making it more principles-based, and re-drafting the AML/CTF rules into plain language. Also incorporated within the...

COVID-19 Pandemic Response Planning

12 March 2020
On the 30th of January 2020, the World Health Organisation (WHO) officially declared a Global Public Health Emergency in the wake of the continued spread of COVID-19 (formerly known as the Coronavirus) throughout Mainland China, Asia and Europe. The aftermath of this announcement which has included stock market unpredictability, supply chain con...

Is your internal audit of AML/CTF doing all it should?

25 November 2019
The Internal Audit (IA) should provide a comprehensive review of your Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) program For your financial institution, the internal audit is your third line of defence and should provide an objective review of your Anti-Money Laundering/Counter-Terrorism Financing (AML/CTF) programs, ...

Westpac Self Assessment Report

17 July 2019
Following the Australian Prudential Regulation Authority (APRA) adding a further $500 million to Westpac’s capital requirement, we take a more detailed look at the full report from their Culture, Governance and Accountability (CGA) self-assessment with the question – what else is in there? Key Findings (per westpac)   ...

APRA Self Assessment Information Paper

7 June 2019
Within its latest Information Paper, APRA finds that embedding effective frameworks and controls to identify, manage and mitigate non-financial risks is a challenge for all institutions regardless of size, complexity or industry.It also sends a clear message that boards and management are ultimately responsible for addressing weaknesses in their in...

Capitalising on workplace culture

2 May 2019
Over recent years we have strived to create resilient, high performing teams, fully engaged, agile, workforces and above-the-line actions to collaboratively achieve a future vision. With all attention focused on constructing these blocks of success, the condition of the foundations on which they are built has been brushed aside leadi...

Banking Royal Commission: The impact on superannuation

18 February 2019
Since its release, commentary on the Royal Commission’s Final Report has focused on the impact this will have on the Australian financial services sector and the big banks.  However, with the treasurer confirming that the government will take action against all the recommendations made in the 496-page report, the potential shake-up t...

New Regulations for a New Year - CPS 234

8 January 2019
Following an increase in the frequency of information security attacks, a new Australian Prudential Regulation Authority (APRA) Information Security Prudential Standard (CPS 234) is coming into effect on 1 July 2019.  The new standard aims to ensure that an APRA-regulated entity takes measures to be resilient against information security in...

Are financial penalties effective?

12 September 2018
With the release of the Banking Royal Commission (BRC)’s interim report, a fresh wave of consumer backlash against the big four banks has surfaced along with cries for retribution, condemnation and large financial penalties. In recent research undertaken by investment bank Morgan Stanley, Australia's big four banks are facing financial penalti...

Are you ready to meet the challenges of the GDPR?

19 July 2018
Digital advancements have resulted in consumer data being created, collected and stored within seconds. It is increasingly important to have clear laws and safeguards in place given the growing digital economy and associated cyber security risk. In May 2018, the new European Union General Data Protection Regulation (GDPR) came into force...

4 steps banks should take to strengthen compliance management systems

13 January 2017
Focus on compliance culture and approach, not just transactions Regulators are taking a different approach to examinations at banks and credit unions. Where, until recently, they focused almost exclusively on files and transaction testing, they are now also taking a harder look at each institution’s overall compliance approach. With the Austr...

Responding to risk: Strategies to manage threats and opportunities

10 January 2017
In a competitive business environment, all organisations must implement Enterprise risk management processes to manage risk effectively in order to achieve business and strategic objectives. Your organisation encounters business risks on a daily basis; assuming risk in the pursuit of profit is the essence of a business. However, many organisatio...

APRA releases enhanced governance requirements for superannuation trustees

8 November 2016
On the 3rd of November, the Australian Prudential Regulation Authority (APRA) released updated governance requirements for APRA-regulated superannuation trustees (RSE licensees) with a final revised prudential standard and prudential practice guide on governance.  This release follows APRA’s letter of 18 December 2015, Governance arr...

8 ways to reinvent internal audit

26 October 2016
Reposition the focus from the “how to” to the “outcome”. Innovate ways to partner with stakeholders to reach the desired outcome. Embed the need for business acumen in order to provide practical advice and insight which creates value. Step beyond the comfort zone to become well-informed in corporate knowled...

Recent AML/CTF Updates: A KYC Game Changer

24 October 2016
Fundamental changes to how reporting entities collect ‘Know Your Customer’ (KYC) information On 15 September 2016, amendments came into effect which revise the underlying methods available to reporting entities required to collect Know Your Customer (KYC) information under the Anti-Money Laundering/Counter Terrorism Financing Rules (AML...

Our services to the local government sector

10 October 2016
RSM has a long history, both in Australia and overseas, of providing a wide range of value added services to local government. Challenges facing Councils and Councillors continue to increase, driven by greater community expectations, regulatory changes, and enhancements to governance structures, amalgamations and restruc...

Expertise in waste and resource management

29 September 2016
RSM has a long history of advising clients in the waste and resource management industries, providing integrated solutions across our service lines in Australia and through our global network. The waste and resource management industries are constantly evolving and are impacted by changing government policy and regulat...

An RSM approach to project quality assurance

13 September 2016
Managing a project in accordance with relevant methodologies and standards, ensures that: the risks of outputs failing to meet defined and agreed standards, resulting in project failure are reduced governance and compliance requirements are continually being met  the delivery of project outputs can be confirmed by a steering committe...

Cyber security – 4 key areas of focus

9 September 2016
New Regulations for the Securities Market As securities markets have become increasingly dependent on technology and automated systems, cybers security and resilient systems have become key concerns in the financial marketplace. The presence of cyber criminals, recent high-profile system failures, as well as broader concerns related to cyber sec...