The Illawarra Business College recognises the importance of a Risk Management Policy as a consideration in its strategic and operational planning, day to day management and decision making at all levels of the organisation.
This Policy is designed to ensure the protection of the overall operation of the College, including, but not limited to, student records, staff records, client records and to comply with the legislative requirements of the various Acts of Parliament that affect the college’s operations.
TIBC is committed to managing and minimising risk by identifying, analysing, evaluating and treating exposures that may affect the College achieving its objectives. It is committed to ensuring all staff obtain a sound understanding and have the skills to implement risk management effectively.
Responsibility for management of risks is foremost with the Managing Director and senior management staff. It is considered an integral part of all management and decision making functions within the College. The responsibility for the identification of risk and the implementation of control strategies and follow up remains a delegated line management responsibility. All personnel have a significant role in the management of risk.
The principles of risk management will be applied to all areas of risk exposure, insurable and non-insurable, and will include, but are not limited to the following:

Risks:
• Occupational health & safety risks (including, but not limited to: risk management and hazard reduction)
• Fraud and corruption prevention activities
• Unauthorised use of resources (including, but not limited to: restricted access control on manual and electronic resources)
• Damage to reputation and image
• Fire prevention and security precautions (including, but not limited to: all manual records locked away with restricted access, fire extinguisher regular maintenance, off-site archiving, evacuation procedures practiced)
• Property loss and damage
• Computer security (including, but not limited to: backups, off-site storage, restricted access control, physical access control)
• Vehicle fleet management (including, but not limited to: all insurances, servicing, access control, drivers licences)
• Professional negligence (staff are encouraged to undertake skills refreshing and updates)
• Other liability exposures (including, but not limited to: staff being updated on information regarding legislative requirements, regular staff development sessions, policy, procedure & flowchart development and monitoring ensuring staff and students are aware of responsibilities and obligations)
• Legal liability (including, but not limited to the following Acts: Privacy, Anti-Discrimination, VETA, Workplace Relations, ESOS, Apprenticeships & Trainees, O.H.&S., Affirmative Action)
• Crisis contingency planning and disaster recovery
• Accounting controls that are not cost effective
• Loss of key staff and intellectual property (including, but not limited to: staff resignations, staff disciplinary actions, terminations, working overseas, working inter- or intra-state, sick and annual leave)
• The impact of globalisation on risk exposures
• Management system inadequacies and poor work quality
• Failure or disruption of a major income source or investment