Session 11: Improving the Health of your University Risk Programs

1. Session 11: Improving the Health of your University Risk Programs Presented by: • Toni Casey University of Queensland • Harry Rosenthal Unimutual

2. Improving the Health of your University Risk ProgramsTools for DiagnosisTherapies for Rehabilitation ANZUIAG 2010 Toni Casey, UQ Harry Rosenthal, Unimutual

3. Risk Program Diagnosis Tools • Universities have numerous risk related programs: BCP, risk register reviews, risk assessments, compliance activities, quality assurance activities • IA can play a useful role in improving the risk programming and ensuring it is focused on reducing the most important business risks the university faces. • Chinese saying: To obtain wisdom you must: • Read 10,000 books and • Walk 10,000 miles In summary success & wisdom is the result of understanding the 2 dimensions of each endeavor: The inherent nature of the task itself Who you are

4. Diagnosis: The View of Risk Programs “What Does the Client/Division/Business Unit Think of Risk Programs/Projects?” Management Excellence Compliance Exercise • Typical Characteristics • Requirement made by others • Part of a growing list of things to do • Something you will be audited for later • Not connected to core business • Typical Characteristics • Aligns to strategic direction • Improves efficiency/ effectiveness of organisation • Meets expressed and un-expressed objectives of stakeholders

5. Diagnosis: The View of Risk Professionals • Characteristics • Works to understands client needs and objectives • Acts as a guide on a journey • Will constantly support with advice and direction • Grows with you Professional Life Coach “Who Are You” Continuum? • Characteristics • Just following orders. • Not part of the decision making process • Contributes little to “Big Picture” • One trick pony Bureaucratic Apparatchik

6. Quadrant 3 Characteristics • Low Division engagement but desire to complete tasks. • Risk staff: will complete task but may feel underutilized, frustrated. • Good ground for IA to help develop Division along continuum. Quadrant 4 Characteristics • Division engagement, required nurturing/relevance. • Risk staff: will feel energized. • Good ground for IA to become welcome consultants help develop along continuum. Capture best practices. Consultant Bureaucrat 3 4 Compliance Management Excellence 1 2 Quadrant 2 Characteristics • Division engagement, but will look for others to assist and support. • Risk staff: will feel overwhelmed with admin detail, but uninformed & anxious. • Good ground for IA to become supportive of process, assessing skills of participants. Quadrant 1 Characteristics • Division will go through motions with adequate coaxing/threats • Risk staff: will feel like a taskmaster • IA should recognise this is a toxic mixture. Wear protective clothing. .

7. Consultant Bureaucrat 3 4 Compliance Management Excellence 1 2

8. Therapy for the Risk Program Design; make it simple and fit the organisation Relevance; user must be able to see it in their world Useful; must be tangible benefits for the organisation Growth; the process should improve and change over time Sensible; the process should encourage use of common sense

9. Therapy for the Risk Professional Deliver tools that help deliver benefits Include & involve; make risk part of decisions Encourage; support educated risk taking Teach & learn; it’s not a one way street Sell the value of risk to the business (not just another thing to do).

10. Internal Audit support forLifelong Health Embed risk in Internal Audit Plans eXplore how risk is considered in practice Engage with your risk professionals Review & report on the framework against good practice Communicate the need for improved risk oversight in audit reports Indicators; keep your eye on indicators of emerging risks Support the risk professionals to sell the benefits Encourage a culture of risk awareness