Risk Management

Do you know what 'risks' could impact the achievement of your Strategic Objectives?

With forums such as the Hayne Royal Commission and COVID-19 raising the attention on risk management practices, it is now incumbent on Boards and Management to continue to enhance their risk management processes to add real value and insights.

JNW has significant experience with assisting organisations design simple, effective, sustainable risk management frameworks.  Our “Six Step Better Practice Risk Process” methodology leverages better practice methodologies and is compliant with risk management standards such as ISO AS/NZS 31000, ASX Principle 7, APRA’s CPS 220 and ASIC’s RG 259.

Our Risk Solutions are strategy focused and designed to:

  1. Increase your risk intelligence;
  2. Enable you to anticipate disruption;
  3. Predict emerging risks; and
  4. Build your capacity and preparedness to act; and
  5. Turn risk into opportunity.

In a world of constant change, complex business environments, increasing shareholder/stakeholder demands for good governance and regulatory requirements creating personal liability, JNW can help you better operationalise risk management, build a platform for a strong “risk culture” and elevate the prominence and capability of risk management in the organisation. 

Specific Risk services include:

Risk Framework HealthCheck

Risk Framework HealthCheck

A benchmarking against better practice, peers and regulatory standards

Risk management strategy and framework

Risk management strategy and framework

Development of risk policy/procedures, risk systems and risk reporting

Risk Facilitation

Risk Facilitation

Formal workshop facilitation – risk identification, controls effectiveness assessment, risk rating (Likelihood & Consequence) and risk mitigation strategies

Risk Training

Risk Training

Face to face methodology and risk assessment training to build a sustainable risk culture

Risk HealthChecker

For more details on JNW’s Six Step Better Practice Risk Process methodology and our Risk HealthChecker, please click on the “learn more” button below

Examples of who we work with and our broad strategic risk experiences:

Bega logo

Bega Cheese Ltd (ASX listed food manufacturer)

  • Post acquisition of the Lion drinks business, facilitated strategic risk workshops with the Executive. Outcomes were business unit operational risk registers, a next steps risk improvement roadmap and presentation to the Audit & Risk Committee
  • Facilitated to development of the Risk Appetite Statement and refreshed the risk & resilience policy and procedure

City of Melbourne (CoM)

  • JNW is a member of CoM’s Governance and Legal Services Panel
  • Conducted a Health-Check of CoM’s Risk Management Framework, including risk strategy, risk appetite statement, risk policy and procedures and risk registers

Ridley Corporation Ltd (ASX Listed agricultural company)

  • Provided advice on the Risk Oversight and Management Policy and Procedure to ensure it was clear with regards to roles, responsibilities, methodology and compliance with ASX Principle 7, for Board approval
  • To aid Ridley’s risk maturity journey, developed a Risk Improvement Roadmap with a focus on Ridley’s strategic objectives
  • Conducted individual business unit risk workshops and developed strategic business unit operational risk registers
  • Continue to provide the Executive and Audit & Risk Committee with risk advice and internal audit support
Clifford Hallam Healthcare logo

Clifford Hallam Healthcare (CH2)

  • For this national pharmaceutical and medical consumables provider, refreshed the risk management policy to make it contemporary and relevant to the growing business

  • Faciltated risk assessment workshops covering warehousing, hospital logistics, data management, regulatory compliance, procurement, sales, finance, IT, quality assurance, OH&S, HR, marketing and product recall

Manningham City Council

  • Developed a Risk Process Improvement Roadmap to create a new risk framework linked to the strategic objectives of the Council
  • Facilitated executive and organisational wide risk management workshops that educated staff on the new approach, creating buy-in and change momentum
  • Facilitated a Risk Appetite Discover Workshop with the Executive Management Team
  • Developed a risk reporting process, including how to manage incidents, quarterly Directors sign-off on their operational risks, and reporting for the Risk Management Committee and Audit Committee

Nexus Mutual (Exxon Mobil’s staff bank)

  • Assessment of the effectiveness of the existing risk framework and developed a Risk Improvement Roadmap to comply with Prudential Standard CPS 220
  • Modernised the Risk Management Policy and Procedure with the risk methodology changed to become strategy based, ie. risks to the successful implementation of the strategic business goals
  • Conducted Risk Identification and Risk Rating workshops for both strategic and operational objectives
  • Provided strategic input into the choice of risk software for the risk registers as well as advice on the creation of risk dashboards and insight reports for management, executive and the ARC

Frankston City Council

  • AS/NZS ISO 31000 benchmark review of the Risk Management Framework, the Risk Management Policy, Risk Appetite Statement and the Strategic Risk Register
  • Facilitated an online survey of staff to seek their views on FCC’s risk management culture
  • Developed a Risk Management Improvement Roadmap aimed at modernising the Risk Management methodology to ensure a simple and practical framework

Australian & New Zealand College of Anaesthetists

  • Desk top review of the Risk Management Policy and Risk Management Procedure documents and benchmarked them against ISO 31000 and our library of better practices
  • Evaluated risk monitoring and reporting, as well as the risk function ownership and business unit interaction
  • Developed a risk improvement roadmap connecting risk to the strategic objectives and making the risk process more relevant for the business units
  • Refreshed the Risk Management Policy and a Risk Management Framework Procedure

Procurement Australasia

Prepared their Risk Appetite Statement detailing the risk the Board is willing to accept in pursuit of its strategic objectives. Established risk tolerances and risk categories and held Director workshops to seek their views on their tolerance risk level. The risk appetite is now expressed on a simple Risk Appetite Table, providing clarity to Management on the Board’s expectations regarding the actions and resources required to address risk

Australian Institute of Project Management logo

Australian Institute of Project Management

  • High level desktop assessment of the Risk Management Appetite Framework and risk register. Suggested recommendations were focused on simplifying the framework and methodology
  • Facilitated a strategic Board risk assessment and Executive operational risk workshops
City Of Ballarat logo

City of Ballarat

  • For numerous business units, facilitated operational risk workshops. Some of these workshops were successfully conduct via online platforms