B.4 Risk Management
The Directorate's risk management framework is based on the Australian and New Zealand Standard ISO 31000:2009 Risk Management principles and guidelines.
Risks are identified and mitigated through the Directorate's internal governance control structure, which includes:
- Risk Management Framework;
- Strategic Risk Profile;
- School Compliance Reporting;
- Fraud & Corruption, Prevention & Response Plan 2013-2015;
- Internal Audit Program;
- Detailed financial policies and controls, such as the Director-General's Financial Instructions and the School Management Manual;
- Detailed financial operating procedures and practices; and
- Risk identification and analysis by executive directors, directors and managers.
The Directorate's risk management functions are managed by the Chief Internal Auditor and the Director, Governance and Assurance branch.
The Directorate's Senior Executive and the Audit Committee receive regular risk management reports, providing an overview of significant risks, mitigation strategies, responsibilities and an oversight on the implementation of audit recommendations.
The Senior Executive and the Audit Committee assist with the allocation of resources and timeframes to ensure appropriate mitigation and monitoring strategies are implemented.
Monitoring and reporting on risk management occurs through:
- Regular monitoring of outcomes by the executive;
- Reporting to the Audit Committee;
- Reporting to the Senior Executive Team; and
- Implementation of internal and external audit recommendations.
The Directorate manages financial risks through a well-defined financial management framework that includes:
- Clearly established ownership of internal budgets;
- Monthly variance reporting by senior management;
- Quarterly strategic review of financial performance and corrective actions as required by the executive;
- Regularly updated financial procedures and practices documents; and
- Provision of training to office and school-based staff.
For further information contact:
Governance and Assurance
(02) 6205 9328
Cultural Competency Strategic Learning Day
In February 2015 renowned educator, author and speaker, Grant Sarra hosted a seminar To Understand Our Present We Must Understand Our Past as part of the Cultural Competency Strategic Learning Day. All Corporate Executive members and Senior Managers from across the Education and Training Directorate attended the day.
The seminar provided context to the issue of engaging with the ACT and Regional Aboriginal and Torres Strait Islander communities, and later included a panel discussion with Aboriginal and Torres Strait Islander staff and community leaders.
Following the Cultural Competency Strategic Learning Day, a framework of change was developed based on the feedback of Corporate Executive and the themes that emerged throughout the day. The Framework for Change comprised structures to include personal leadership commitments, Branch responses and Directorate responses.
In particular, the Framework for Change included a commitment to develop and acknowledge authentic cultural practices, maintain authentic relationships with Aboriginal and Torres Strait Islander peoples and to consult with Aboriginal and Torres Strait Islander peoples for review and input into Directorate policies and publications.
On the left, Grant Sarra hosting the leadership seminar "To Understand Our Future We Must Understand Our Past" in February 2015.
On the right, Corporate Executive members and Senior Managers from across the Education and Training Directorate attended the day.