Risk management

We manage risk in line with the Victorian Government Risk Management Framework (VGRMF) and the Financial Management Act 1994 (FMA). These requirements guide how we assess and manage risks and report on our performance.

Effective risk management supports the delivery of our objectives and enables informed decision‑making across the Authority. We actively promote a positive risk culture, where staff are encouraged to identify, report and manage risks in their day‑to‑day work. As the Authority continues to grow, we are focused on developing our risk maturity to support organisational needs. Key enterprise, operational and financial risks are actively managed through our risk and financial management frameworks and compliance monitoring.

The Authority’s Corporate Plan sets out clear objectives and strategic priorities, supported by targeted actions to mitigate key risks and respond to emerging issues. To address our most significant risks, the Corporate Plan outlines several priority areas to strengthen the Authority’s capability and the integrity of the Scheme. This includes ensuring workers are aware of their benefits and can access them.

Delivering the ICT roadmap is a strategic priority to reduce enterprise technology risk, strengthen core infrastructure, and enhance technology and data analytic capability to support effective regulation and decision‑making.

Stakeholder engagement and streamlining end‑to‑end processes will improve stakeholder identification, communication and participation in the Scheme, helping to reduce the risk of missed or delayed registration and reporting.

Under‑registration and non‑compliance remain key risks to Scheme integrity. We will apply a risk‑based, proportionate compliance approach, supported by clear guidance and appropriate escalation to enforcement action where required, to deter non‑compliance and uphold fairness for employers that meet their obligations.

Collectively, enhancements to claim processing, scheme engagement and technology‑enabled solutions support the accuracy and completeness of Scheme data, which underpins sound financial management and contributes to the long‑term financial viability of the Scheme.