Support risk management practices at the University Support to establish response plans for identified risks Manage risk effectively within business units Promote awareness of interdependency between strategy and riskĭesign and implement an insurance strategy and programmeĭevelop risk management policy, framework, strategy and principles and deliver associated awareness programmeĬoordinate awareness of interdependency between strategy and riskĬoordinate timely delivery of relevant risk management information to stakeholdersĪdvise management on risk management and response plans Implement the risk management policy and framework Lead development and application of risk management systems Take ownership of risks in area of responsibility and ensure such risks have response plans Review the Risk Management Policy and Framework annuallyįor further details refer UoA Audit and Risk Committee Terms of ReferenceĮndorse and champion the application of the risk management policy and frameworkĪdvocate awareness of interdependency between strategy and risk Monitor the management of material business risks, and ensure that appropriate procedures and conducts are in place to mitigate or manage those risks All members of the University have specific accountabilities for risk management:
#Risk management policy iso
Risk management is to be methodical, structured and follow the principles of ISO 31000:2018 and COSO - ERM - Integrating with Strategy and Performance.Ħ. Risk management is responsive to the University’s dynamic operating environment there is to be regular monitoring of the risk universe and any impact on strategy is to be identified, assessed and treated.ĥ. The cost of risk, financial and non-financial, is to be minimised wherever possible.Ĥ. Risk management aims to protect the University’s resources (people, property, financial, environmental and information) and reputation.ģ.
It is integral to processes across all levels of the University and enables continuous improvement.Ģ. Risk management is critical for achieving strategy as an enabler of opportunity and underpins decision-making. This Policy is a mandatory requirement under the Risk, Compliance and Audit Policy Framework pursuant to section 26(2)(l) of the Health Services Act 2016.The guiding principles of risk management at the University are to be:ġ. Public Sector Commissioner’s Circular: 2015-03 (Risk Management and Business Continuity).Treasurer’s Instruction 825 (Risk Management and Security).In the Western Australian Public Sector context, the following legislation and policy requirements underpin risk management: The System Manager is committed to ensuring that robust governance structures and processes are in place to promote effective Health Service Provider risk management practices.
Risk management should be built into all operational processes and underpin decision making.įailure to recognise and manage risk can have widespread implications not only for an organisation but for its consumers, employees and the wider community. MP 0006/16 - Risk Management Policy (pdf 214KB)Īpplicable to: All Health Service Providersĭescription: The Risk Management Policy establishes the minimum standards to be implemented by Health Service Providers in order to effectively manage risk at all organisational levels.Īn organisation’s risk management practices are a critical component of good governance and fundamental to support the achievement of objectives.
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