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Risk management

The WorkCover Queensland (WorkCover) Board is committed to the implementation of an appropriate risk management program throughout the organisation, including setting the risk appetite and the periodic review and monitoring the treatment of the top strategic risks.

The Risk and Audit Committee (RAC), on behalf of the Board, is responsible for ensuring all efforts are being undertaken in the area of risk management, including directly overseeing the risk management program.

At an operational level, our Chief Executive Officer ensures the implementation and ongoing maintenance of the risk management program and ensures that risk management is an integral part of the strategic planning process.

Our Executive Leadership Team (ELT) are responsible for coordinating and monitoring risk management issues, making operational policy recommendations, and managing risk in accordance with risk appetite.

Our people within each part of the business are responsible for proactively identifying risks, choosing and implementing methods to treat these risks, and monitoring their control effectiveness. WorkCover's second line risk management function oversees and advises on the implementation of the framework and governance for managing risk.

WorkCover's third line of defence, Internal audit, provides independent, objective assurance, and consulting to help WorkCover accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes. Their role is to provide the RAC and WorkCover's ELT with information and advice concerning the activities reviewed and the adequacy of internal controls.