New research centre to drive innovation in cyber risk, future healthcare and smart governance
Deloitte Risk Innovation Centre to incubate solutions for sustainable enterprises of the future
Singapore, 8 May 2015 – Deloitte today announced the opening of the Deloitte Risk Innovation Centre, growing its regional research team and accelerating the group’s strength in innovating solutions to serve governments, clients and targeted communities in Southeast Asia (SEA). Over the next three years, the centre will be an incubator to drive innovative solutions in three priority initiatives – Cyber Risk, Future Healthcare and Smart Governance.
“At Deloitte, we drive innovation in every aspect of our business. The Deloitte Risk Innovation Centre demonstrates our commitment to be part of the innovation ecosystem. We hope that our clients can benefit from the foresight of our research and apply it to their business to become sustainable enterprises of the 21st century,” said Philip Yuen, Chief Executive Officer at Deloitte Singapore.
Presiding over the launch of the Deloitte Risk Innovation Centre was Dr Janson Yap, Asia Pacific Leader for Enterprise Risk Services and SEA Innovation Leader. Dr Yap envisions the research centre to deliver meaningful insights for Southeast Asia and tools for companies to tap on so as to be ever ready with capability and expertise to deal with the myriad of threats and challenges in a changing business landscape.
“There is a lot of executive talk about innovation and questions on how it actually happens. From our experience in Deloitte, innovation comes about when you converge a wide range of perspectives, knowledge and insight focused on specific industries and issues. The Deloitte Risk Innovation Centre has the reach and talent to make these connections. The centre will push the limits of our ideas and insights on some of the biggest challenges – for now, we are focusing on cyber, healthcare and governance – facing businesses and global communities today,” said Dr Yap.
“In a world facing increasing complexity and volatility, companies need to manage risks while they explore growth opportunities in Asia,” said Kelvin Wong, Assistant Managing Director at the Singapore Economic Development Board. “Deloitte’s investment strengthens Singapore’s role as a leading professional services hub – where innovative knowledge and solutions are created and delivered to support clients’ needs in Asia and beyond. The Deloitte Risk Innovation Centre will also create for Singaporeans exciting career opportunities in risk management, in high growth areas.”
Work at the all-new research centre has commenced since its soft launch in November last year.
Three research papers on Cyber Security, Future Healthcare and Smart Governance were presented today at the launch. On each of the key issues, the paper focuses on a point of view on the changing landscape and the shift that must take place adequately to combat the challenge.
The Deloitte Risk Innovation Centre will house the following:
Cyber Risk Security Operations Centre
Deloitte’s first Cyber Risk Security Operations Centre (SOC) for Asia Pacific and Southeast Asia region operates in Singapore. Led by Thio Tse Gan, Executive Director at Deloitte SEA Enterprise Risk Services and SEA Cyber Security Leader, the SOC will complement the services that Deloitte has been providing in the US and UK, thus allowing round-the-clock security services to ensure coverage for clients across all time zones.
The SOC will also provide advanced security event monitoring, threat analytics, cyber threat management and incident response for businesses in the region, to meet the increasing market demand in cybersecurity services. A similar outfit is being planned for Malaysia and is expected to be operationally-ready from July 2015.
Future Healthcare Centre of Excellence
The Future Healthcare Centre of Excellence (CoE) is a dedicated research arm of the Life Sciences & Healthcare (LSHC) industry practice in Deloitte. The CoE aims to deliver healthcare solutions for the LSHC industry in the SEA region with focus on four key areas:
- Research in risks pertaining to human-centred cognitive technologies for the LSHC space
- Innovation in risk management for human-centred cognitive technologies
- Collaboration with renowned academia, research centres, and medical institutions
- Thought-leadership to enrich the knowledge base and assess future trends impacting industry evolution
Through the LSHC CoE’s research efforts, roundtables and other forms of industry engagement, it seeks to be a trusted source for relevant, timely and reliable insights for the LSHC community. This initiative is led by Dr. Yong Chern Chet, Director at Deloitte SEA Enterprise Risk Services and SEA Healthcare Sector Leader.
Under the Smart Governance initiative, the team will develop a Smart Governance Framework and a set of tools including new computer-assisted audit techniques (CAATs) that will help to automate auditing and assurance processes. These technologies include software that will improve data analyses and network security, allowing Deloitte auditors to perform their tasks with greater efficiency and seek continuous improvement through innovation.
By moving the testing to the Cloud, we will be able to increase our data handling capacity and improve data cleansing and testing capabilities. Deloitte’s clients will be able to benefit from stronger governance and compliance for their stakeholders. David Chew, Executive Director and Head of Deloitte SEA’s Centre for Corporate Governance together with Lex Lee, Director at Deloitte SEA Enterprise Risk Services will be leading the implementation of this service across the region.