Current Governance in Risk Management
Effective financial management and risk control are essential for maintaining accountability and resilience across NSW Government agencies. The policies and committees below provide guidance on financial risk management, internal controls, and governance.
Financial Management and Accounting Policy (FEFR)
Effective financial management and risk control are essential for maintaining accountability and resilience across NSW Government agencies. The policies and committees below provide guidance on financial risk management, internal controls, and governance.
Financial Management and Accounting Policy (FEFR)
- Sets policies and guidelines to help agencies manage financial risks.
- Requires agencies to confirm they comply with TPP20-08 Internal Audit and Risk Management Policy for the General Government Sector
- Contributes to the Enterprise Risk Management Community of Practice.
- Works with icare to support sector training needs.
Financial Risk Management (FRM)
- Identifies and monitors key risks that affect the state’s balance sheet.
- Provides guidance on risks that impact multiple agencies to support a whole-of-government response.
- Develops and implements whole-of-government risk policies.
- Leads the Investment Oversight Committee and contributes to the Asset and Liability Committee and Treasury Balance Sheet Committee.
The Chief Risk Officer
- Advises and trains on risk and control assessments and implements risk management policies, procedures, and systems in Treasury.
- Promotes risk management and strengthens organisational resilience across the Treasury cluster and the NSW public sector.
Audit and Risk Committee
- Monitors, reviews, and advises on the agency’s governance processes, risk management, internal control frameworks, financial statements, and external accountability obligations.
- View the current governance in risk management diagram (PDF 92.11KB).