NWRSS is committed to developing a culture where all risks that could affect our clients, employees, the community, the environment, our operating assets, and our financial and legal status, are identified and actively managed.
NWRSS will manage risks by:
- Complying with all regulatory requirements
- Educating and involving all employees, clients and people involved with our clients in the process of risk management
- Prioritising risks according to likelihood and severity of impact
- Developing action plans which assign responsibility and accountability to minimise risk
- Incorporating risk management into client support arrangements and strategic planning, and setting measurable indicators for risk reduction
- Undertaking regular reviews of risks and their management to ensure continuous improvement
- Retaining Workplace Industrial Advisors, James O’Neill and Associates, for consultation on financial and corporate decisions that involve risk
The following steps are a general guide for assessing and managing all types and levels of risk including financial, corporate, and programmatic risk:
- Outline the risky situation
- Detail the possible advantages of taking the risk
- Detail the possible disadvantages of taking the risk
- List strategies for managing the risk, utilising the least restrictive alternative
- Identify workable strategies including the time and resources needed
- Will the chosen strategies manage the risk to an acceptable level
- Check any doubts or concerns with James O’Neill and Associates