Australia’s aged care sector is in the midst of a seismic shift. System-wide reforms, changed funding models and significant changes in legislative requirements for aged care providers and directors – all of which create uncertainty. Uncertainty can give rise to risk.
For the sector, keeping vulnerable people safe, managing significant workforce and financial risks and remaining insurable are key concerns for Boards and Directors. But how can organisations strengthen their Enterprise Risk Framework to add value and create confidence rather than be a list of ‘stuff’ to be managed?
For the last five years Ansvar’s Risk Solutions team has provided complimentary risk consultancy services for its clients. Working with aged care providers, Ansvar has identified four key themes to help grow the risk maturity of care organisations: Risk Governance, Risk Processes, Risk Resources and Effective Implementation. Self-reflection questions are provided for each theme.
1. Risk Governance
This refers to the risk structures in the organisation, accountabilities and delegations with respect to risk and the design and implementation of an…
