1 / 11

Journey of Enterprise Risk Management: Framework & Policy

Explore the risk management journey at Glenorchy City Council, focusing on strategic risks, framework implementation, and policy development. Learn about the Risk Management Committee, Liability Audit, and the importance of ISO 31000 standards for effective risk mitigation.

bairdr
Download Presentation

Journey of Enterprise Risk Management: Framework & Policy

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Implementation of an Enterprise-Wide Risk Management Framework Stuart Lovell Manager HR and Risk Glenorchy City Council

  2. The Risk Management Journey • Insurance Driven • OH&S and Public Liability focus • Conducted “Business Risk Review” • Identified the need to focus on Strategic Risk • Strategic Risk Register Developed • CMP Liability Audit • Role of Risk Management Committee • Risk Management Policy • Risk Management Framework • Audit and Risk Committee

  3. Business Risk Review • Initially conducted in 2001, operationally focussed. • Register produced. • Reviewed Register Annually. • Conducted complete Risk Review in 2006 using Council’s Strategic Plan as reference. • Risk Register Records Updated. • Risk Review 2009 conducted using Risk Framework • 2013 Framework and Register Reviewed

  4. Strategic Risk • Focus on Council’s Strategic Plan and key operational areas. • Expanded understanding of types of risk – • Environmental, public liability, OH&S, Industrial Relations, Financial Sustainability, Reputation, Emergency Management, Business Continuity, Social Responsibility • Explore opportunities. • Move from risk mitigation to value creation

  5. Risk Register • Centralised • Separate sections to reflect organisational structure • Allocation of resources, roles and responsibilities • Dashboard reporting to give “real time” snapshot of risk mitigation strategies

  6. Liability Audit • Useful tool to introduce the concept of risk management • Use of recommendations • Focus of the Risk Management Committee • Targeted Risk Appraisals

  7. Risk Management Committee • Develop a charter including membership • Move from operational to strategic focus • Responsible for implementation of mitigation strategies from Risk Register • Report ALL risk issues to ELT

  8. Risk Management Policy • Based on ISO 31000:2009 • Relevant to the organisation • Provides appropriate responsibility, resources and authority • Outlines administrative structure to support policy and organisational responsibilities • Ongoing process that requires regular review

  9. Risk Management Framework • Based on ISO 31000:2009 • Establishing the context • Identify risks • Analyse and evaluate risks • Treat and manage risks • Monitor, review and reporting • Communication and consultation • Appropriate allocation of Resources

  10. Audit and Risk Committee • Governance function of Organisational Risk Management • Provide independent assurance to Council on risk, control and compliance framework and external accountabilities • Consists of 3 Aldermen and 2 independent members • Meet at least 4 times per year

  11. Conclusion • Risk Management is a journey • Learn form mistakes • Grasp opportunities • Ongoing process • Sound Management Tool

More Related