
Monday 16 May 2022 - Project Specification
Monday 16 May 2022 - Project Specification
Topics: Risk Management
Departments: All
Sector: Risk Management
Project Specification: pdf (172.18 KB)
Download in full ↓Processes to identify, assess, prioritise and manage risk are fundamentally important in achieving organisational goals. Corporate risk management processes focus on reducing, mitigating or otherwise managing the uncertainties faced in delivering strategic and key operational objectives. Effective risk management embraces processes at corporate, departmental and service levels.
In 2017, the Comptroller and Auditor General (C&AG) undertook a review of the States of Jersey’s approach to risk management. The C&AG found that, whilst work had been undertaken to create a risk management framework, the effective management of risk was not adequately embedded across the States. The 2017 report Risk Management made 18 recommendations, all of which were accepted for implementation by the States.
The Government of Jersey launched a new Risk Management Strategy during 2019. This Strategy was further updated in October 2020.
The review will evaluate:
The review will not include risk management relating to:
The review will not extend to the management and mitigation of investment risk (for example those relating to the Strategic Reserve and the Social Security (Reserve) Fund).
The objectives and/or scope of the review may be amended in the course of the review in the light of emerging findings or other matters arising.
Associate Member of EURORAI - a cooperation project between public sector supervisory bodies in Europe