Sydney Met recognises that risk management is an integral part of good governance and management practice and is committed to its application at all management levels within an institution-wide framework. Sydney Met’s risk management framework provides the foundations and organisational arrangements for designing, implementing, monitoring, reviewing and continually improving risk management. The three key elements of Sydney Met’s framework are its a) Risk Management Policy, which establishes a mandate and commitment for managing risk; b) the Risk Management Plan; and c) Risk register, which details the procedures and processes by which risk management will be implemented within the organisation.
A Risk Management Framework at Sydney Met is a structured approach to identifying, assessing, managing, and monitoring risk. The Framework consists of five critical components, which provide a high-level view of how to approach a specific domain within Sydney Met’s risk management context. Nevertheless, it’s a flexible conceptual structure and provides guidelines rather than rigid steps. Sydney Met has the flexibility to take a cognitive approach by following these steps and integrating qualitative and quantitative components, for example, risk appetite, mitigations, and risk ratings.
Sydney Met’s Risk Management Process complies with AS/NZS ISO 31000:2018. Under this approach, there are six key stages to the risk management process (see below).
Sydney Met has a robust system of implementing, evaluating and reporting structure for risk management. The Chief Quality Officer (CQO) reports the identified risks to all relevant stakeholders clearly and transparently, ensuring no information is omitted or misrepresented. For example, CQO reports and discusses potential risk items, and the risk register at the weekly Senior Leadership Team (SLT) meetings, monthly Strategy Implementation and Monitoring Committee (SIMC) meetings, quarterly Risk and Audit Committee (RAC), Teaching and Learning Committee (TLC), Academic Board (AB), and Governing Council meetings. Critical risk items are also shared in the Sydney Met Town Hall with the broader academic and professional Sydney Met Staff.
Sydney Met's campus is located on the unceded territory of the Gadigal people of the Eora Nation, who are the traditional owners of the land where the campus is situated. We pay our respects to their Elders, past, present, and emerging. We extend that respect to Aboriginal and Torres Strait Islander peoples in Australia and Indigenous peoples globally who are presently studying, working, or contributing to Sydney Met.