Risk Management Policy and Program
A risk management program is one of the general conduct obligations for credit licensees and is required for NCCP compliance. ASIC are expecting credit licensees to predict future events that may impact (positively or negatively) on your business activities and to take appropriate actions to address the impact of these events.
QED Risk Services can prepare and document a best practice risk management program designed for your broking business, that complies with the NCCP Act. Proper risk management can enhance your business, rather than being a burden of compliance.
Risk management forms an important part of our corporate governance and is very closely linked with our compliance programme. Whilst risk management focuses on the future, our compliance programme focuses on the present to ensure that the business is meeting its legal and regulatory, organisational policy, and contractual obligations. For every business risk we identify, there is a corresponding compliance obligation designed to either control or treat the risk.
An effective risk management program should include:
- Communication and consultation of risks
- Establish the context of the risks
- Identify the risks
- Analyse the risks
- Evaluate the risks
- Treat the risks
- Monitor and Review