A key function of Comcover is to assist entities to build their capability to manage risk across the Australian Government. Comcover aims to enable entities to obtain the knowledge, skills and expertise that will assist them to successfully implement and integrate risk management within their organisations.
Commonwealth Risk Management Policy
The Commonwealth Risk Management Policy (RM Policy) was formally launched on 2 July 2014. The RM policy supports the requirements of section 16 of the Public Governance, Performance and Accountability Act 2013 which requires accountable authorities of entities to establish and maintain systems and appropriate internal controls for the oversight and management of risk.
Under the RM Policy, non-corporate Commonwealth entities must comply with nine elements, which reflect the fundamentals of effective risk management. The goal of the RM Policy is to embed risk management as part of the culture of entities where the shared understanding of risk leads to well informed decision making.
The Policy is supported by a Resource Management Guide (RMG) and a Toolkit of practical guidance on how to implement the elements of the Policy for those entities seeking further assistance.
A Guide to Implementing the Commonwealth Risk Management Policy (RMG-211) is available which provides practical advice and suggestions on how to approach implementing each element of the RM Policy. The Guide is also available as an interactive E-Book which contains links to additional content.
Training and Community of Practice
A key way to increase risk awareness in the Australian Government is through effective risk management training. Comcover provides a comprehensive risk management training program which includes face‑to‑face training courses, online learning and an executive professional development program.