Strategic objective 9: Organisational capability and resilience

Risk Appetite & Tolerance

Key mitigation strategies include AMSA pandemic plan, Divisional Business Continuity Plans, AMSA COVIDsafe Plan and regular meetings of the Executive Crisis Management Team.

Risk tolerance statement: 

We have no tolerance for poor workplace safety practices - particularly those which adversely affect the health, safety and well-being of our employees. 

We have rigorous systems to ensure that our employee’s health and wellbeing is protected.

Risk Appetite & Tolerance

Key mitigation strategies include Activity Base Costing, Section budgets and Executive reporting, Investment Committee and Portfolio Working Group, Project Management hub, guidance and templates for projects.

Risk tolerance  statement 

We have low tolerance for a systemic breakdown of financial controls, cash mismanagement or material errors in financial reporting. 

Acknowledging that the introduction of innovative practices and ways of thinking can increase risk initially, we have low to moderate tolerance for financial risk in pursuit of improvement. 

We recognise that the Commonwealth is operating in a constrained financial environment, and that we are under increasing scrutiny to justify our costs and cost recovery arrangements to stakeholders. We must accept some risk to deliver improvements, while continuing to deliver our outputs and outcomes 

Risk Appetite & Tolerance

Key mitigation strategies include AMSA work health safety management plan, remote working policy, guidance and checklist, fatigue risk management initiatives, bullying and harassment protections; diversity objectives, and regular meetings of the Health Safety and Environment HSE Committee, certified quality management system, ongoing training and awareness, and employee wellbeing program. 

Risk tolerance statement  

We have no tolerance for poor workplace safety practices - particularly those which adversely affect the health, safety and well-being of our employees. 

We have rigorous systems to ensure that our employee’s health and wellbeing is protected. 

Risk Appetite & Tolerance

Key mitigation strategies include independent Fraud and Corruption Control risk assessment and plan, HR & payroll system (Aurion) and internal audit program, governance, compliance, assurance and reporting framework, Accountable Authority Instructions, certified Standards management system, financial delegations, system of risk oversight and management, involvement in relevant Commonwealth communities of practice/working groups and ongoing training and awareness. 

Risk tolerance statement 

We have low tolerance for breaches of our general legislative obligations as a corporate Commonwealth entity. 

We must be able to demonstrate conformance with our statutory obligations under general legislation. We accept that accidental and non-systemic breaches may occur, but these must be followed by appropriate corrective action.