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Risk management
The management of risk is a strategic activity and an essential part of ensuring that we meet our performance goals and results. We have identified our exposure to potential vulnerabilities and what could go wrong. We have reduced this exposure by ensuring that we have the skills, capability and strategies to manage these risks and maintain our performance.
| Risks | Response |
| Losing credibility as the lead provider of good personal financial planning information. |
We will ensure our communications strategies and website are of the highest possible quality (in terms of content and presentation). The accuracy and value of all information and advice will be thoroughly tested before being used. We will monitor and as necessary act in response to trends in public perceptions of our communications and information services. |
| Loss of focus on priorities |
We will base our business planning on managing for the outcomes specified in this Statement. We will prioritise our work according to its contribution to achieving the impacts we are seeking. |
| We are not valued by stakeholders |
We will maintain good working relationships with stakeholders. We will respect our stakeholders' views and interests and as appropriate assist their relations with central government. We will look to undertake appropriate joint ventures and the like to better integrate public and private sector initiatives aimed at improving personal financial management. |
| Loss of influence in our advice to government |
Our advice to the government will be authoritative and evidence based. We will ensure that we work effectively with other government agencies to inform and assist their retirement-related policy development. We will initiate and support research and evaluation work, as appropriate, to better inform all aspects of retirement-related financial planning. |
| Perceptions that we do not meet the needs of particular segments of society due to a primarily web-based strategy. |
We will monitor and publicise the use of Sorted. We will constantly look at cost effective ways to meet target audience needs. We will balance our strategies to ensure effective communication across society. |
