Comcover Awards for Excellence in Risk
Management 2016
Enterprise-Wide Risk Management Nomination
Entity:
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Contact Officer:
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Position Title:
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Postal Address:
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Telephone:
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Email:
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ENDORSEMENT BY ACCOUNTABLE AUTHORITY
In submitting this nomination form, I agree that in the event my entity receives an
award, that as part of the promotion of good practice, Comcover may include my entity’s
details in any promotional material, including details of my entity’s risk management
initiatives contained in this entry.
Name:
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Position Title:
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Signature:
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Date:
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PLEASE NOTE: This declaration must be signed and attached to your electronic
nomination.
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Comcover
Please limit this nomination to 10 pages (excluding cover pages and attachments
that directly support your nomination).
Nominations are to be lodged electronically by COB Friday, 24 June 2016 at
comcover@comcover.com.au
You will receive an electronic message confirming receipt of your nomination.
Please see the Information Kit for further information.
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Comcover
Brief Overview of your Nomination
Please provide a brief overview (a few paragraphs) outlining the key points of your
nomination.
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Criterion One: The Risk Management Framework
Entities should demonstrate how the following nine elements of the Commonwealth
Risk Management Policy underpin their risk management framework and contribute to
the strategic planning, management and decision making processes of the entity.
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Establishing a risk management policy
Establishing a risk management framework
Defining responsibility for managing risk
Embedding systematic risk management into business processes
Developing a positive risk culture
Communicating and consulting about risk
Understanding and managing shared risk
Maintaining risk management capability
Review and continuously improving the management of risk
Excellence against this criterion would include evidence to demonstrate how the entity
has embedded their risk management framework across the entity to develop a culture
that engages positively with risk.
Evidence should include the following:
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Risk management is a high priority for the entity, resulting in a comprehensive
framework being established that identifies, assesses and manages risk at all
levels;
There is strong leadership displayed from senior management or executive,
through their active support for the development of risk management and the
implementation of the entity’s risk management policy and plan (championing
by senior management);
How the entity has developed its risk appetite to be dynamic and fully embedded
into both operational and management activities;
How the entity has developed strategies to communicate risk;
Training and education of risk management is a strong priority for the entity;
How the entity has trained staff in the management of risk ;
The culture of the entity is one that recognises both the positive and negative
dimensions of risk;
What actions, or post event analysis, is undertaken to ensure the entity’s risk
management plan remains relevant; and
How the recommendations from regular reviews are reported to key
stakeholders, including senior management, on a regular basis.
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Comcover
Criterion Two: Demonstrable Results
Evidence demonstrating excellence against this criterion should include a description of
the entity’s risk management framework. The framework would clearly define and link
the entity’s management of risk with its overarching governance framework and its
operational processes. It should also reflect the entity’s appetite for risk and the level of
resourcing committed to risk management. There would be evidence that the entity’s
culture is one where understanding, accepting and managing appropriate risk is part of
everyday decision making processes.
To demonstrate excellence against this criterion, evidence should be provided of the
benefits and results the entity has achieved to date, or the future benefits likely to
emerge from the effective implementation of the entity’s risk framework. Evidence
should include relevant data such as the overall reduction of incidents, as well as
comparative evidence of the costs compared with the value of the results or benefits
achieved.
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Comcover