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Wollongong City Council's Draft Risk Management Framework
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Wollongong City Council's draft Risk Management Framework is currently on public exhibition and we welcome your feedback before Monday 3 August 2020.
Risk management is a fundamental component of decision making in all Council activities. All decisions
made by Council and its Officers need to consider the risks involved in taking those decisions and the
impact those decisions will have on the achievement of Council's objectives. Successful implementation
of the risk management framework will enhance the delivery of all six of our interconnected Community
Goals outlined in Wollongong 2028.
Council regularly reviews its risk management arrangements and processes to ensure that they remain best practice and provide a framework that allows decisions to be made with an understanding of Council’s risk environment and to facilitate the taking of risks and capitalising on opportunities, within council’s risk appetite, to assist Council meet its strategic objectives.
At the Council Meeting on 29 June 2020, the Risk Appetite Statement was adopted and the Draft Risk Management Framework was endorsed to be placed on public exhibition.
Wollongong City Council's draft Risk Management Framework is currently on public exhibition and we welcome your feedback before Monday 3 August 2020.
Risk management is a fundamental component of decision making in all Council activities. All decisions
made by Council and its Officers need to consider the risks involved in taking those decisions and the
impact those decisions will have on the achievement of Council's objectives. Successful implementation
of the risk management framework will enhance the delivery of all six of our interconnected Community
Goals outlined in Wollongong 2028.
Council regularly reviews its risk management arrangements and processes to ensure that they remain best practice and provide a framework that allows decisions to be made with an understanding of Council’s risk environment and to facilitate the taking of risks and capitalising on opportunities, within council’s risk appetite, to assist Council meet its strategic objectives.
At the Council Meeting on 29 June 2020, the Risk Appetite Statement was adopted and the Draft Risk Management Framework was endorsed to be placed on public exhibition.
The draft Risk Management Framework communicates Council’s commitment to risk management, and
how risk management will be implemented by the Council.
The key features of the draft Risk Management Framework are:
outlining Council’s risk management objectives and priorities, and how these are linked to strategic plans and objectives
how risk management will be integrated into the overall culture of the Council, core business activities and decision-making
accountabilities and responsibilities for managing risk
ensuring appropriate resources will be made available for risk management activities
how risk management performance will be reviewed, measured, reported and improved and
coordinating the interface between risk management and other assurance activities, for example,
the Audit, Risk and Improvement Committee, internal audit function and external audit.
The draft Risk Management Framework is attached under Key Documents, while the survey consists of only a single question.
Consultation has concluded
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Wollongong City Council's Draft Risk Management Framework is currently at this stage
This consultation is Open for contributions until Monday 3 August 2020.
Under Review
this is an upcoming stage for Wollongong City Council's Draft Risk Management Framework
Contributions to this consultation are closed for evaluation and review.
Final Report to Council
this is an upcoming stage for Wollongong City Council's Draft Risk Management Framework
A further report to be provided to Council at the conclusion of the Exhibition Period. Respondents who provided feedback will be advised when the Risk Management Framework is next presented to Council.
