Comcover Awards for Excellence in Risk
Management
2016 Information Kit
An Invitation
Entities are invited to submit a nomination for the Comcover Awards for Excellence
2016.
Entities can nominate in either of the following two categories:
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Enterprise-Wide Risk Management Category
Risk Initiative Category
Awards for Excellence Overview
The Comcover Awards for Excellence in Risk Management (the Awards) recognise
Australian Government entities that have demonstrated leadership and excellence in
risk management practice.
The Awards acknowledge entities that have contributed to Government reform and the
successful implementation of Government policy through the effective use of risk
management.
Benefits
The benefits of participating in the Awards program include:
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the opportunity for an entity to showcase their approach to managing risk;
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peer recognition of the entity’s commitment to managing risk;
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the opportunity to receive valuable feedback from our expert risk management
judging panel; and
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the sharing of best practice approaches to risk management, for the broader benefit
of the APS.
Key Dates
2 May 2016
Nominations open
24 June 2016
Nominations close
14 – 15 July 2016
Short-listed entities present to judging panel
Award Category and Criteria
1
Enterprise-Wide Risk Management
The Enterprise-Wide risk management category assesses excellence in implementing
risk management frameworks, practices and processes across the entity.
Enterprise-Wide Risk Management nominations must address the following criteria
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.
1.
2.
3.
4.
5.
6.
7.
8.
9.
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
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How the recommendations from regular reviews are reported to key
stakeholders, including senior management, on a regular basis.
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.
2
Risk Initiative
The risk initiative category considers excellence in risk management relating to a
specific entity program or project.
Risk Initiative nominations must address the following criteria
Criterion One: Approach
Entities are required to show the approach taken to identify a particular risk initiative,
including evidence of the planning undertaken to determine the strategies, processes,
and resources required to achieve the goals and objectives of the specific risk initiative.
Entities would need to demonstrate excellence by providing strong evidence of:
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the purpose and goals of a specific risk initiative, including evidence of initial
planning, research and ongoing senior management approval;
details of the strategies, plans and processes that guided successful
implementation; and
the proposed approach in integrating the program/policy into the entity’s
operating environment, and importantly, linking the risk management initiative
with the entity’s overarching risk management framework.
Criterion Two: Implementation
Entities should describe how the risk initiative was successfully implemented. It will be
important to demonstrate the activities that were undertaken including the engagement
of internal and external stakeholders, communication and reporting.
Excellence would be demonstrated by providing evidence of:
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how the strategies and processes described in the approach were successfully
implemented;
how risk management resources were monitored and deployed, including how
staff were engaged and took ownership of new strategies or processes; and
how risk management was used to overcome implementation challenges to
ensure the achievement of broader organisational goals.
Criterion Three: Short to medium term benefits
Entities should articulate the outcomes achieved and the benefits to the entity from the
particular risk initiative. Evidence should include clear performance measures in the
short to medium term used to track the achievements of the risk initiative.
Excellence would be demonstrated by providing evidence of:
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performance data that reflects a number of cycles; and
how consideration is given to outcomes and results achieved, in particular the
comparison of performance prior to implementation and post implementation.
Criterion Four: Long-term benefits
In this criterion entities should articulate the benefits for the entity, or the Government
more broadly, arising out of the risk initiative.
Excellence would be demonstrated by providing evidence of:
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how the risk initiative has contributed to achieving key outcomes for the entity;
and
how the initiative has contributed to achieving the entity’s objectives or
contributed to a whole of Government outcome – this could include the joint
delivery of services or policy implementation across a number of portfolios.
Judging Process
All applications will be assessed against the criteria detailed above. Short-listed entities
will be invited to present their entity’s risk management initiative to the judging panel.
The judges reserve the right not to issue an award in any of the categories. All decisions
of the judges are final.
Winners will receive recognition as the ‘Winner’, or receive a ‘Highly Commended’ or an
‘Honourable Mention’ in each of the two categories.
To Help You Complete Your Nomination
To present your application in the best possible way, please read the following tips, and
keep them in mind when completing your nomination:
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You can nominate for either the Enterprise-Wide or Risk Initiative category.
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You will need to submit a nomination form, using the nomination templates, with
your Awards application. The nomination templates are included in your pack
and are also available from Comcover’s web page.
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Applications should be limited to 10 pages (excluding cover pages and
attachments).
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Address each part of the selection criteria.
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When addressing the selection criteria, provide a brief outline of the situation or
setting, what action was undertaken and how this action achieved the desired
outcomes.
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Focus on results and describe the specific outcomes and benefits that were
achieved by your entity. Avoid the use of generic statements like, ‘the entity has
really benefited from...’
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Provide relevant examples to use as evidence of your entity’s achievements,
including evidence of how those achievements were measured.
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Only attach those documents that demonstrate and support your claims.
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The Accountable Authority of your entity must endorse each application for the
Awards.
How to Lodge a Nomination
The nomination templates can be found on the Comcover website at
http://www.finance.gov.au/comcover/
Nominations are to be lodged electronically by COB 24 June 2016 at
comcover@comcover.com.au
A confirmation email will be sent upon receipt of your nomination.
Information and Support
If you would like further information or clarification on the nomination process, you can
contact Comcover on 1800 651 540, or send an email to comcover@comcover.com.au