Australian Research Council Corporate Plan 2021–22


The framework played an important role in assisting the agency through the initial tages of the COVID-19 pandemic, and continues to do so, allowing the ARC to take a isk-based approach to the pandemic to ensure the agency can continue to deliver on ts objectives. This includes working closely with our stakeholders, who have also been ffected by the pandemic, to manage our shared risks, and continual improvements to ur business continuity and disaster recovery planning to ensure the agency is resilient n times of disruption. s r i a o i

The ARC’s comprehensive Risk Management Framework (the framework) has been designed in accordance with section 16 of the PGPA Act, for the management and oversight of the ARC’s risks and controls. The framework complies with the Commonwealth Risk Management Policy and meets the needs of the ARC’s unique context and functions. The framework is underpinned by the ARC Risk Management Policy (the policy) and Risk Management Plan and Toolkit (the plan). These documents define the ARC’s approach to risk management, the organisation’s appetite, and tolerance to risk plus key accountabilities and responsibilities for managing risk across the agency. Together, the policy and plan support all other elements of the framework including strategic, operational, project and fraud risk registers. The ARC also has a risk champions network to ensure that risk management is widely communicated, embedded in our culture and that risks are proactively managed in all areas of business. The ARC recognises the potential impact of several of its risks could be significant. Considering the ARC’s role as a key funding agency, the ARC is vigilant in the management of financial risks as well as having a low tolerance for risks that damage the ARC’s reputation or impact on the safety of its staff and stakeholders. The ARC’s risk culture is built upon the understanding that risk is everyone’s responsibility with operational risks regularly reviewed, escalated and reported on as required. Risk is also an integral part of planning, performance and decision-making, helping the ARC to identify threats and also opportunities. The ARC uses a centralised risk management system to record, manage, and share risk information across the agency. The ARC continues to build capacity, awareness, and expertise in risk management through formal risk management training, provision of guidance materials, and systems training. The ARC reviews the framework on an annual basis to ensure it is operating effectively and adheres to leading practice.

FIGURE 4: Risk at the ARC

everyone’s responsibility

escalated and reported on as required

a potential opportunity

At the ARC risk is...

openly discussed and shared across the entity

regularly reviewed and improved upon

an integral part of planning, performance and decision- making



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