As a statutory body, the Authority is required to comply with various requirements under legislation. Key legislation that governs the risk management of the Authority includes the various legislative obligations set out in the Act and the Financial Management Act 1994.
Effective risk management practices assist the Authority with meeting those obligations and ensures that the Authority’s strategic objectives can be achieved in a controlled setting.
The Authority continues to integrate risk management into its strategic, business planning and decision-making processes. This integration means that the Authority takes informed risks and makes decisions that are consistent with the amount of risk that the Authority is willing to accept in order to meet its objectives as part of its routine work.
The Authority has a moderate appetite for risk and will consider the costs and benefits when taking risks, preferring balanced outcomes. Staff are supported to manage risks within the risk appetite, through regular risk identification and assessment.
Principles for decision-making
Strategic
- Protect and sustainably grow funds under our management while equitably administering the Scheme and building trust with our stakeholders.
Financial
- Exercise prudent organisational financial management that assists our ability to sustainably support the organisation.
- Proactively seek registrations and levy payments to protect workers’ benefits and support the Authority’s financial position.
Service delivery
- Strive to have positive interactions that help to build awareness, education and engagement.
- We give people accurate information that serves our objectives.
Operations
- Take an inclusive approach to the Scheme’s coverage consistent with law. Through the provision of accurate and accessible information and our enforcement strategy we seek that all covered employers are registered and that they include workers in their returns to the full extent of the Scheme’s coverage.
- Embed a range of compliance tools and programs using intelligence-led, risk-based and outcome focused enforcement methods to identify and deter non-compliance and hold all employers to account for non-compliance.
- To be ready with our people, processes and systems to administer claims to covered workers on and from 1 July 2026.
Information technology
- Ensure we have technology solutions that encourage interaction and efficient registrations while providing ongoing service.
- Ensure we have secure technology solutions that encourage engagement with employers and workers, as well as provide for an efficient registration and customer service experience.
Compliance and legal
- Comply with the Authority’s compliance and legal obligations. Avoid material and systemic compliance failures through sound internal controls. Intentional misbehaviour will not be tolerated.
- Actively pursue prosecutions and civil claims against unresponsive non-complying employers.
People
- Maintain a safe and healthy workplace.
- Invest in initiatives that recognise the value of employees’ contributions, develops their performance, and encourages resilient, solutions-focused staff.
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