About us
Part 1: Risk management
Risk management is integral to good corporate governance and management. Appropriate strategies are identified and delivered to successfully mitigate risks. The Corporation will identify, analyse, evaluate, treat and monitor risks that arise from pursuing objectives and initiatives.
Business groups complete annual risk management plans as part of their business planning, and they regularly review and monitor against the plans. Risk management activities include identifying new and emerging risks, quarterly reporting on risks to the Board and Minister, and quarterly progress reports on the implementation of agreed risk treatment plans.
The Corporation is developing a three-year Risk Management Plan to incorporate best practice into the Corporation's culture. Effective risk management is integral to:
- the Corporation's capability and capacity
- the way the Corporation manages its reputation within the public sector
- opportunities for operational efficiency and effectiveness being captured
- the quality and stability of information and associated systems.
The three-year Risk Management Plan will progress the Corporation towards:
- having a risk-smart culture where risks are identified, analysed, evaluated and monitored in a balanced manner
- operating in an environment of few surprises, with risk-reporting systems that provide early warning and are forward-looking.
