City of Stirling Corporate Business Plan

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. In 2025/26, the City’s Risk Management team will transition into the newly established Strategic Planning, Risk & Performance function. This realignment is designed to strengthen the integration between the City’s Risk Management Framework, the Integrated Planning and Reporting Framework, and the City’s audit structure. This restructure will enable the City to undertake a comprehensive review of its Risk Management service, including an evaluation of the role and integration of the City’s Accountable Stirling Management Group. This process will ensure that risk management practices remain effective, aligned, and responsive to the City’s strategic objectives.

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 with 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

59