Risk, Governance & Compliance: Building your organisation’s resilience
BDO Migration Services assist business to meet their Human Resource needs and to acquire the right talent at the right time while lifting administrative burdens and minimising risk.
Increasingly Human Resources operations need to be part of a broader enterprise risk management approach where risk is embedded into the strategic and business planning decision-making processes within the organisation to meet business goals while managing risk.
The complexity of Australia’s immigration laws and policies, and the dynamic regulatory environment mean senior management needs to develop and drive a culture of compliance while meeting Human Resource needs.
Risk management is integral to good business practice as it promotes the business’s needs while managing risk
Risk management plans and frameworks vary according to the needs of a business, its aims, the context and structure within which it operates, the nature of the business and its processes, functions and practices.
It is the role of the Board and senior management to establish the principles and guidelines so as to establish a system of risk oversight and management.
The management of risk requires:
- A risk management policy
- A risk management framework
- Articulation of responsibility for managing risk
- Embedding risk management into business policies and processes
- Adopting and promoting a culture and enterprise wide risk culture
- Communicating and consulting about risk
- Understanding, mitigating and managing risk
- Developing and maintaining risk management capabilities and strategies
- Facilitating the continual improvement of risk management as part of strategic objectives.
In addition to a focus on the policies and principles of risk management, risk management requires a framework to achieve strategic objectives.