Why does Council need a Risk Management Policy?

    Council operates in uncertain and changing economic, social, political, legal and business environments. Risk management is not about being risk averse and it is not a guaranteed way to eliminate all the risks Council faces altogether. The Risk Appetite Statement and Risk Management Framework provide direction and guidance to the management of Council in a way that allows the reduction of negative impacts of risks to a level that is acceptable and allows the decision to take calculated and appropriate risks that will help Council achieve its strategic goals and deal positively with opportunities.

    What is Council's Risk Management approach?

    Council's Risk Management approach consists of the following elements:

    • Risk Appetite Statement
    • Risk Management Framework 
    • Risk Management Plans
    • Risk Management Policies and Procedures.

    What consultation has been done to date?

    The draft Risk Management Framework and Risk Appetite Statement have been subject to considerable consultation with Councillors, Council’s Audit Risk and Improvement Committee (ARIC) and Executive, with a number of workshops held with the ARIC to seek their guidance on both the format/content of the documents as well as the risk settings defined in the RAS. The ARIC have endorsed the draft Risk Management Framework, which is a requirement of the proposed Office of Local Government (OLG) risk management framework, prior to adoption by Council.