Risk Management Policy and Framework

The National Health Funding Body is committed to the effective management of risks and promoting a positive risk culture throughout the organisation. Our approach to risk management is consistent with the Commonwealth Risk Management Policy. The Commonwealth Risk Management Policy sets out the expectations for managing all risks associated with undertaking Government business through nine elements which are to be incorporated in an appropriate system of risk oversight:

1. Establishing a risk management policy
2. Establishing a risk management framework
3. Defining responsibility for managing risk
4. Embedding systematic risk management into business processes
5. Developing a positive risk culture
6. Communicating and consulting about risk
7. Understanding and managing shared risk
8. Maintaining risk management capability
9. Reviewing and continuously improving the management of risk.

These elements are addressed within the NHFB’s Risk Management Policy and Framework, detailing our commitment to managing our business operations in a professional and efficient manner, supporting the achievement of NHFB’s strategic objectives, statutory obligations, and ethical standards.