Risk Oversight and Management
We will embed a positive risk culture within our organisation, encouraging and supporting our staff to effectively engage with risk to deliver on our strategic priorities and fulfil our purpose.
The Commission’s Risk Management Framework articulates how and why we undertake risk management. It enables us to proactively engage with strategic and operational risks, provide confidence that informed decisions are being made and foster a stronger and more positive risk culture. We review our Risk Management Framework regularly.
To support our ability to effectively engage with and manage risk, we will continue to improve risk assessment tools and treatment registers and report progress against the implementation of risk treatments to the Commission’s primary decision making forum, the Executive Board.
Our overall risk appetite reflects the importance of being able to engage with risk to pursue opportunity and create value. We are committed to embedding a positive risk culture and enhancing risk maturity within the agency. We have identified five risks that have the potential to affect our ability to achieve our purpose:
- failure to effectively coordinate workforce risks across the APS
- failure to meet our statutory obligations under the Public Service Act 1999
- failure to maintain integrity of the data we hold
- failure to deliver on key outcomes and to be a valued, credible and trusted partner to APS agencies
- inability to attract, develop and retain required workforce capabilities.
To manage these risks, we have a number mitigation strategies in place:
- targeted, annual program of internal audit to assist us to identify and correct any system based weaknesses
- engagement with established APS-wide governance bodies, such as the Secretaries Board, Chief Operating Officers Committee and Heads of Professions
- monitoring of key objectives and associated funding through our Executive Board
- learning and development opportunities to develop staff capabilities
- key strategies and plans, as outlined in our description of “capability”.
Our Audit and Risk Management Committee provides assurance and advice to the Commissioner on matters pertaining to performance and financial reporting, systems of internal control and other systems of risk oversight and management.