Your chance to comment on the new Risk and Compliance Policy

The new policy is part of the University-wide Policy Transformation Program (PTP) and is open for feedback until Monday 29 April.

The Risk and Compliance Policy Transformation Project has delivered a draft Risk and Compliance Policy and associated manuals that are now open for UNSW-wide consultation.

Led by Nick Glover (Director of Risk) and Paul Serov (Head of Compliance & Controlled Entities Law), the project has engaged key stakeholders who have contributed to the development of the draft policy.

Representatives from all faculties and divisions, as well as subject matter experts, have collaborated and provided their expertise to ensure best practice is applied to risk management and legislative compliance management at UNSW.

Key changes in the draft policy and associated manuals include:

• a revised risk management framework, aligned to international standards and tailored to UNSW’s risk culture
• new criteria to enable ULT members and senior leaders to accept medium and low risk exposures
• new risk appetite statements describing the level of risk that UNSW is prepared to take on and manage
• a new Risk Management Manual detailing a step-by-step approach to risk assessment
• revised risk consequence criteria for relevant areas and resetting the risk rating levels
• an updated procedure for compliance assurance and certification, reflecting the move to LexisNexis compliance modules
• an updated procedure for reporting and managing compliance issues and breaches
• updated compliance obligation classifications based on the new risk management framework.

The benefits of the draft policy and associated manuals include:

• the consolidation of 11 policies and procedures into a single 24-page policy, reduced from a total of 50 pages
• streamlined content written in plain language
• clearly defined responsibilities and practical applications across UNSW
• integrated approach to risk management, compliance management and third-party arrangements.

Your input on the transformed Risk and Compliance Policy is important to help us deliver a comprehensive, accessible and modern policy that supports risk management and compliance management at UNSW.

Please send your feedback to policy@unsw.edu.au by Monday 29 April 2024.

The Policy Transformation Program

The new Risk and Compliance Policy is part of the Pilot Phase of UNSW’s PTP.

The Governance team in the Division of Transformation, Planning & Assurance are leading the PTP to consolidate the existing policy suite of more than 260 policy documents into one code and 23 policies.

This is a major reform to simplify and transform our policies and will improve how we approach policy collaboration across UNSW.

New policy transformation projects will commence in quarterly increments from April 2024 to early 2026.

Visit the PTP SharePoint site for more information about the program.