Corporate Business Plan: 2024-2028

Informing strategies and plans: Risk Management Framework In its role as a local government, the City faces a broad range of external and internal risks. Risk management is a fundamental element of sound corporate governance and is part of the City’s organisational purpose, governance, leadership and commitment.

INFORMING STRATEGIES & PLANS

The City is committed to embedding risk management practices across the organisation to support the delivery of the City’s Strategic Community Plan, Sustainable Stirling 2022–2032 and the Corporate Business Plan. The City has a comprehensive and mature Risk Management Framework (the framework) and consistently monitors all areas within the organisation to improve its risk management maturity. The framework is aligned with the Australian/New Zealand Standard (AS/NZ) ISO 31000 and provides the foundations and principles for managing risks across the City. Oversight of the framework sits with the Accountable Stirling Management Group, which reports to the Executive team, Audit Committee and Council. The Accountable Stirling Management Group provides oversight on the City’s corporate governance, including risk management, business continuity, compliance, privacy and integrity. Effective risk management allows the City to: • Manage its risks and increase confidence in achieving its strategic and business objectives • Manage risks to an acceptable level in accordance to established risk appetite • Make informed and robust decisions and maximise opportunities • Establish the right balance between rewards and risks in decision making • Facilitate continuous improvement in performance.

In 2023/24 the City achieved the following key priorities: • Reviewed the City’s Strategic Risk Register, risk appetite, risk appetite statements and key risk indicators • Reviewed the City’s service risks, aligning

the service risks to strategic risks • Implemented the City’s new risk management system

• Enhanced the risk reporting process to the Audit Committee and Council to improve risk management oversight • Progressed the implementation of the Accountable Stirling Action Plan for 2023–2025 to drive the City’s maturity in risk, compliance and integrity including the review and development of key policies, management practices and processes • Enhanced the integration of risk management with existing strategic and service-planning processes • Completed the 2023/24 Compliance Self Assessments, using a risk-based approach focusing on the most significant compliance obligations for each area that would likely have the greatest impact on the City’s ability to achieve its objectives • Commenced the annual review of the City’s service business continuity plans • Commenced the development and implementation of a Crisis Management Plan and Crisis Notification and Escalation Protocol • Implemented targeted risk, integrity and compliance training and awareness programs for people leaders and employees, including the new risk management system training • Aligned new and updated policies and management practices to the City’s values. The City’s Accountable Stirling Action Plan 2023–2025 will continue to support and enable the maturity of the City’s risk management, compliance and integrity processes, procedures and reporting.

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