As part of the ongoing enhancement of risk management capability across the University, we are pleased to share two important updates:
1. Risk Appetite Statement
This statement sets out the level of risk the University is willing to accept in pursuit of its strategic objectives. It provides a clear framework to support consistent, informed decision‑making across all areas of the University.
Access the Risk Appetite Statement here or via the Risk Management Policy in the Policy Library.
2. Updated Risk Matrix
A new Risk Matrix is now available and should be used in all risk assessments going forward. This replaces previous versions and aligns with current industry and sector standards.
Access the new Risk Matrix here or via the Risk Management Webpage.
What we need from you
- Familiarise yourself with the Risk Appetite Statement and the updated Risk Matrix.
- Replace any old versions of the Risk Matrix in documents, templates, local procedures, or shared drives with the new version.
- Use the new Risk Matrix whenever completing or updating a risk assessment.
- Escalate risks promptly through your usual local channels (e.g., your supervisor/manager) following existing processes.
- Consider risk explicitly when making decisions that may impact the University’s people, operations, finances, reputation, or strategic objectives.
Resources and Support
- Risk Management Policy
- Risk & Assurance Team: Contact us at riskandinsurance@flinders.edu.au for advice or support.
What’s coming next?
Over the coming months, the Risk & Assurance team will provide further tools and practical guidance on how to apply the Risk Appetite Statement in day‑to‑day decision making. We will also continue to share updates on risk initiatives as these improvements are released, through an ongoing ‘Risk Matters’ column in FiT. These improvements are intended to make risk discussions easier and more consistent across the University.
Thank you for your continued commitment to effective risk management which in turn supports the University’s strategic goals.