ASC risk and compliance – RISK AND COMPLIANCE

Transcript:ASC risk and compliance – RISK AND COMPLIANCE:
ASC risk and compliance – RISK AND COMPLIANCE FRAMEWORK Presenting KAREN POTTS DIRECTOR OF RISK AND COMPLIANCE Anglican Schools Commission What is Risk and Compliance? Risk: AS/NZS ISO 31000:2018 the risk management process involves the systematic application of policies, procedures and practices to the activities of communicating and consulting, establishing the context and assessing, treating, monitoring, reviewing, recording and reporting risk. Compliance: AS 19600:2015 includes risk management as an essential aspect of a compliance management system and also focuses on compliance as part of the culture of the organisation. It places an emphasis on compliance as the responsibility of an organisation’s governing body rather than a purely management function. Legislation and Standards Due to its diverse nature and multiple State jurisdictions, the ASC’s legislative obligations are complex and include: School Education Act 1999 (WA); Education Act 1990 (NSW); Education and Training Reform Act 2006 (VIC); Australian Education Act 2013; and Registration Standards (WA/NSW/VIC). Core Requirements The core requirements of the Risk and Compliance Policy Framework and Strategy include: compliance with legislation and regulations; honesty and integrity; ongoing legal advice, updates and awareness of risk and compliance obligations; practices and processes integrated into day-to-day operations; managing risks; monitoring compliance with legal obligations; corrective action to prevent systemic compliance failures; records of compliance breaches; review of policy and framework against benchmarks; establishing, maintaining and promoting a risk and compliance culture; and continuous improvement process. Risk and Compliance Framework The Framework provides the foundation and infrastructure to effectively manage risk and ensure ongoing identification of compliance obligations across the ASC. The components of the Risk and Compliance Framework are: Risk and Compliance Policy; Risk and Compliance Strategy; Risk and Compliance Processes; and Risk and Compliance Roles and Responsibilities. Benefits The benefits of the ASC Risk & Compliance Policy, Framework and Strategy are: To demonstrate the ASC’s commitment to risk management; To maximise capabilities to achieve legislative, regulatory and internal policy compliance; To provide clear allocation of responsibility; The identification and management of risks; To maintain synergy and balance; To promote accountable decision making; and To provide a continuous process. Risk Strategy Categories The Risk Strategy is integrated with the ASC’s Strategic Plan. The 5 main risk categories are: Reputational; Financial; Operational; Health and Safety; and Compliance/Legal. Risk exposures are often across categories and/or interrelated. Risk Categories - Reputational Description: a threat or danger to the good name or standing of a business or