Meet Karen Lovison, Head of Compliance at Tyro Payments.
Tyro Payments provide fast, integrated & reliable EFTPOS for Australian Small and Medium Enterprises with their innovative products and services.
We wanted to find out first-hand from Karen, about her role as Head of Compliance at Tyro, the motivation behind the Privacy 101 workshop and how it was received by the team. Here is what Karen had to say about life at Tyro Payments...
Tell us about your role as Head of Compliance at Tyro
I have been recently appointed as the Head of Compliance at Tyro. Tyro exists to provide Australian Small and Medium Enterprises with innovative products and services, to help improve and grow their business. We started by providing our integrated EFTPOS, recently we launched lending and deposit products, and we will expand into other services in the future.
My role is extremely rewarding and fulfilling as I am not just contained to one product or business. I am able to assist, influence and direct Tyro in understanding and managing Compliance in all of its facets and associated risks.
What was the motivation for Tyro to hold the ADMA IQ Privacy 101 workshop?
As part of our ADMA membership, we were really keen to utilise the premium benefits afforded to us. Through a collaboration between Marketing and Compliance we immediately saw the benefit of having a majority of our team undertake the Privacy 101 training. We saw this training as building on our already existing privacy knowledge and we were looking for engaging content, delivered by practitioners who live and breathe privacy. It was great to have ADMA providing this access to this training and supporting our compliance.
Who out of the Tyro staff organisation attended the workshop?
The workshop was a collaboration between Compliance, Marketing and Sales and members from these teams attended the workshop.
How was the workshop received? What were the after effects?
Whilst privacy and compliance training is ongoing at Tyro and something we take very seriously, it was great to have some new research, statistics and recent examples to really provide up-to-the-minute insights. It definitely provided further importance to the program of work we have been delivering and reminded the team of the importance of our privacy obligations – whilst ensuring it was delivered in an engaging and memorable way. Some of team were repeating specific statistics from the session in the following weeks.
What are your next steps in the area of Privacy and Compliance at Tyro?
We, like all banks, are grappling with the Consumer Data Right and its implementation. We see great opportunity within such an initiative, however, the challenge is keeping up with legislation, regulation, infrastructure and opportunity all at the same time!
What are your primary concerns when it comes to data privacy?
As a society and as individuals, we implicitly trust organisations to manage and protect our data. That’s a heavy responsibility and one that organisations should not take lightly. As Compliance professionals we need to keep on top of how, and for what purposes, we use customer data so that we stay true to our purpose and provide customers with a great data experience that is also safe and secure.
What other actions are you taking in educating your team on privacy?
We take our compliance training and awareness program seriously here at Tyro. We have a complete training and awareness program on Compliance that starts at induction and develops through the completion of role specific on-line Compliance modules annually. We offer dedicated “deep dive” workshops to teams on Compliance topics with a recent focus on data and privacy.
Interested in becoming an ADMA member like Tyro Payments?
Learn about ADMA Membership here