1. New Government of South Australia Risk Management Policy Statement Darryl Bruhn Risk Management Coordinator SAICORP

2. History of Risk Management Policy Statement  First released in 1995 and updated in 1999. Signed by Treasurers Stephen Baker & Rob Lucas from the Liberal government.  Re-released in 2003 by current administration and jointly affirmed by the Premier and the Treasurer. This was done to enact a recommendation contained in the Fahey Report into the Public Sector Responsiveness in the 21st Century review of May 2002.

3. Working Party  Stephen Blight, Director Risk Management & Audit, DFC  Julie Lister, Manager Internal Audit, DTEI  Mohua Mukherjee, Manager Strategic Risk & Audit, DECS  Peter Brass, General Manager, Risk Management & Audit, PIRSA  Gordon Thomson, Manager Strategic Services, DTF  Romeo Rigon, Risk Adviser, Attorney Generals Department  Darryl Bruhn, Risk Management Coordinator, SAICORP

4. WP Assessment of 2003 Policy  Essentially the policy was good and effective as the key risk management driver although a little longwinded and repetitive.  Questioned the need to single out two specific requirements in the 2003 policy, namely:  Expectation that contractors to government demonstrate risk management and  SAICORP responsibility to provide advice to the Crown  Agreed that it was a matter of refining the existing statement.  to state accountabilities and responsibilities clearly.  to promote the use of risk management as a key business tool that increases the achievement of government objectives  on the need for a central theme to market the policy – mantra

5. Influences on risk management requiring consideration since in 2003  State Strategic Plan issued and re-issued.  PSM (CE Accountability) Amendment Act 2005. This is now reflected in the new Public Sector Bill.  Treasurer’s Instructions 2 replaces FMF references and TI 28 on compliance issued.  Pending release of AS/NZS ISO 31000

7. Commitment Statement The South Australian Government recognises that commitment to risk management contributes to sound management practice and increasing community confidence in government performance. Mike RannKevin Foley PREMIERTREASURER

8. Accountability Statement Public Sector Chief Executives are accountable to their Ministers for the development and implementation of a risk management framework specific to the organisation’s business and the organisational context. The design of this framework reflects the principles and the process outlined in the international risk management standard, AS/NZS ISO 31000. Chief Executive accountability for risk management extends to their agency contribution to the attainment of the whole of Government economic, social and environmental objectives stated in South Australia’s Strategic Plan.

9. The Guiding Principle – Risk Management Mantra Risk management is underpinned by the key principle that “risk management contributes to the creation of sustainable value”

10. Benefit of using Risk Management? The consistent and systematic application of risk management is central to maximising community outcomes, effectively leveraging the benefit of opportunities, managing uncertainty and minimising the impact of adverse events.

11. Integration of Risk Management? Risk assessment is integrated into planning and all other activities of the agency including significant proposals and cabinet submissions. The risk information obtained is a fundamental consideration in measured risk taking and decision making.

12. Finally  Continues commitment to risk management of successive governments since 1995.  Key driver for risk management  Positions risk management as a key business process for achieving the SA Strategic Plan agenda.  Promotes the development of risk management that is organic and underpinned by the need to contribute to creation of sustainable value.  Provides an important source of information for decision- making purposes.

13. QUESTIONS ??