Interview with Daniel Moore, Senior Operational Risk Solutions Consultant for Wolters Kluwer

We take great pride in seeing our clients realise and achieve the operation excellence outcomes they targeted.  We play a pivotal part in preventing and reducing incidents and fatalities on work sites. Having been an operations leader in a business where we had a fatality, the most rewarding part of implementing these solutions for our clients, is knowing that our solutions, when implemented and executed effectively, does make a material difference.

What strategies do you recommend to clients for mitigating operational risks? How do you measure the effectiveness of these strategies?

To mitigate operational risks, organisations can build a robust digitalisation plan in stages. First stage is ensuring that there is an effective system for data collection and integration. It is important to have a good overview of visibility on worksites by having sensors and IoT devices, to provide real-time data on equipment performance, environmental conditions, and operational processes. The data collected can then imported into a centralised platform that enables the analysis of trends and identification of any abnormal activities on sites.

Refineries are complex operations.  In order to simplify the data, it is useful to think about integrating artificial intelligence into their operations. AI-driven preventive measures are the next stage of digitalisation. Deployment of AI-initiatives can reduce unplanned downtime and equipment failures. With the use of AI, we are also able to identify any inefficiencies and suggest improvements, reducing the likelihood of accidents.

No matter how powerful the platform is, it will not work if employees are not trained or motivated to use it. The final stage of digitalisation is ensuring training programs and change management are put in place. Providing employees the skillsets and a seamless transition to utilise these tools.

How does Wolters Kluwer stay ahead of the curve in terms of operational risk technology and innovation? What are some of the latest trends or developments in the field?

With the ever-changing operational risk, technology, and regulatory landscape, we aim to stay ahead by continuously investing in research and development.  

There are a few emerging technologies that we can see developing in the operational risk technology and innovation area such as digital work tools, AI, Machine learning etc. Wolters Kluwer continuously improve and innovate in our expertise by actively understanding the challenges refineries face. We value the long-term impact that digitalisation can bring to our customers, and our goal is to be able to help our customers achieve and maintain operational excellence in their organisations.

What are some of the emerging operational risks that clients are facing today? How is Wolters Kluwer addressing these new challenges?

Despite the evolving use of digital tools, many refineries are still using traditional operational processes that are manual and have limited data integration which contributed to the continuous trend of preventable incidents occurring. Tied with the aging infrastructure that some refineries have, this results in a decreased work efficiency and complicated workflow process. This can contribute to manual errors and repeated workplace incidents that can largely be prevented through effective implementation of digital tools.

We have seen more stringent regulations introduced in the Asia Pacific region in recent years, with such comes the need for clients to adapt to evolving regulatory standards. Wolters Kluwer solutions are designed to ensure our clients remain compliant across their operations, resulting in the prevention of incidents and a more robust way of protecting employees.

How is digital transformation impacting the operational risk landscape? What opportunities and challenges does this present for clients?

Digital transformation is significantly impacting the operational risk landscape, presenting more opportunities for an organisation’s growth. Wolters Kluwer helps our clients to achieve improved data visibility and identification of risk, allowing them to have access to real-time data. This is helpful for better decision-making for senior executives. Digitalisation of processes also helps to streamline workflows across all stakeholders’ level, improving communication and collaboration across teams.  

We’re excited to have you with us for this year’s Asian Downstream Summit!
What motivated Wolters Kluwer to be part of the event this year? Are there any aspects or sessions that you are particularly excited about?

After great success last year, we are extremely thrilled to be back again at Asian Downstream this year! My team and I are especially excited to be connecting with all our seasoned downstream industry leaders. Hoping to deep further into challenges that they may face in their day-to-day operations during the various sessions and the 1-1 conversations.

Tell us a little about what we can expect to see or hear from you at the event this year.

Focusing on operational risk management this year for our downstream customers, we’re excited to connect everyone to the potential of digital tools that can drastically improve their refinery operations. We understand the concerns that downstream customers may face in this changing landscape, such as aging infrastructure, complex operations, and stringent environmental and safety regulations.

In my session ‘How Digitisation Leads to Operational Excellence in Refineries’, I will share more on the strategic approach to tackle the challenges of achieving operational excellence and ultimately realising the long-term benefits of digitalisation. This session will be beneficial for organisations who are looking to increase efficiency, safety, and sustainability in their refinery operations.

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