Risk Management Enterprise Wide Risk Management Policy -PDF Free Download

Risk Management Enterprise Wide Risk Management Policy

2019 | 2 views | 35 Pages | 679.22 KB

organisations to establish and maintain an enterprise risk management process appropriate to their operations and adopts the Australian New Zealand Standard on Risk Management, to ensure common and generally accepted risk management terminology and processes are applied across Government.



POLICY STATEMENT
ENTERPRISE WIDE RISK MANAGEMENT
PURPOSE
Risks and being risk aware are an integral part of organisational operations and must
be identified and managed at the appropriate level for an organisation to be effective
Opportunities and threats should be addressed through a risk management process
in order to maintain and improve performance and achieve identified objectives NSW
Health is committed to developing a risk management culture where risk is seen as
integral to the achievement of our aims at all levels of the organisation
This Policy Directive outlines the minimum mandatory requirements for NSW Health
staff in complying with risk management standards consistent with Principle 1 and
Core Requirement 1 1 and 1 2 of the NSW Treasury Policy TPP15 03
MANDATORY REQUIREMENTS
Each Health organisation is required to implement a risk management approach in line
with this Policy Directive and the attached Enterprise Wide Risk Management
Framework In order to achieve this health organisations must
Embed risk management into corporate governance planning financial insurable
clinical workforce management structures operational service delivery project
management and support functions such as procurement and asset management
Include risk management as a part of the strategic operational and annual business
planning activities of the organisation its facilities and or networks
Have an up to date Risk Register in place
Have a Risk Management Plan that identifies how the organisation will manage
record monitor and address risk and includes processes to escalate and report on
risk to the Chief Executive Audit and Risk Committee and Board as appropriate
Have in place processes to monitor and review the risk and governance system
Consider nominating a senior executive other than the Chief Audit Executive
to be responsible for designing the agency s risk management framework and
coordinating maintaining and embedding the framework in an agency
IMPLEMENTATION
Ministry of Health will
Champion a culture of risk awareness and monitoring systemic risk across NSW
Health
Update and monitor compliance with this Policy Directive
Identify systemic risk issues in consultation with health organisations central
agencies and accountability bodies
Review quarterly risk register reports received from health organisations and provide
regular feedback on system wide trends
PD2015 043 Issue date October 2015 Page 1 of 3
POLICY STATEMENT
Provide feedback to health organisations based on quarterly reports received
Monitor compliance with NSW Health annual Audit and Risk Attestation Statements
Maintain the Ministry of Health Risk Register and formal reporting requirements
Chief Executives will
Champion risk management culture within their organisation that includes a focus
on continuous improvement and identifying opportunities as well as risks
Ensure the Risk Management Plan is implemented and the Risk Register is current
Ensure appropriate resources are allocated to managing and monitoring risk and
to implementing risk mitigation strategies identified through risk planning activities
Allocate accountability for managing individual risks at an appropriately senior level
to ensure risk mitigation strategies are implemented
Communicate risk management requirements to management and staff
Take appropriate action on risks reported or escalated
Provide the Audit and Risk Committee and Board with regular reports on risks and
management actions being taken to mitigate these risks
Determine the level of management that will be delegated authority to accept risks
Provide quarterly reports to the Ministry of Health on the organisation s top 10 risks
inclusive of all extreme risks
Approve the annual Audit and Risk Management Attestation Statement
Senior Managers have key responsibilities to
Promote risk management within their areas of responsibility including
communication of requirements to relevant staff
Be accountable for risks and mitigating controls within their area of responsibility
and take appropriate action on risks reported or escalated
Report on changes and updates to the organisation Risk Register including updates
on risk management strategies current risk ratings and emerging risks
Risk Owners have key responsibilities to
Manage the risk including designing implementing and monitoring actions to
address or risk treatments for a particular risk
Assess the effectiveness of existing controls and design improvements as required
Escalate the risk for effective management as appropriate to the level of the risk
Organisation Board will
Ensure an effective risk management framework including risk appetite and risk
tolerance is established and embedded into the clinical and corporate governance
processes of the organisation
Provide strategic oversight and monitoring of organisation s risk management
activities and performance
PD2015 043 Issue date October 2015 Page 2 of 3
POLICY STATEMENT
Seek information from the Chief Executive as necessary to satisfy itself that risks are
being identified and mitigation strategies are in place and effective
Audit and Risk Committees with support of the Internal Audit function will
Operate in accordance with the Committee s Charter as approved under the Internal
Audit Policy Directive PD2010 039 or current
Monitor and review risk management attestation compliance and report to the
Agency Head on risk management and control frameworks within the organisation
Ensure audit plans for the organisation include appropriate consideration of risk
REVISION HISTORY
Version Approved by Amendment notes
PD2015 043 Deputy Secretary Updated policy directive
October 2015 Governance Workforce
and Corporate
PD2009 003 Director General New policy directive
June 2009
ATTACHMENTS
1 Risk Management Enterprise Wide Risk Management Policy and Framework
NSW Health Procedures
PD2015 043 Issue date October 2015 Page 3 of 3
Risk Management Enterprise Wide Policy and
Framework NSW Health
FRAMEWORK
Issue date October 2015
PD2015 043


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