Risk oversight and management
Risk management in the Treasury is about identifying and analysing the uncertainties and opportunities associated with our operating environment. We do this by looking to the future and gathering the best available information required for good decision making.
The Treasury's risk management framework aims to:
- establish robust, pragmatic risk management practices that support business needs and provide the methodology and tools to enable effective management of risk across the Treasury;
- develop a consistent Treasury wide understanding of risk management;
- foster an environment where all staff assume responsibility for managing risk, with managers formally considering risks as part of the decision-making process;
- ensure that significant risks have been identified, understood, documented and actively managed;
- assess risks in a balanced way, with upside risks (opportunities) considered alongside downside risks; and
- sustain the usefulness of risk registers and practical risk-analysis tools.