Every business takes risks. Risk is essential to the successful growth of
an organisation. Understanding how much risk is acceptable is crucial in every
Unfortunately, business owners cannot be aware of the many
risks within their organisation and the effect these could have on the ability
to continue trading. This is why your risk management and insurance program is
Risk management identifies events - or risks - before they
occur to keep the business running and better protect customers, employees and
the reputation of your business.
Once you understand your risk, you can develop strategies to
reduce or transfer this risk, and insure against unavoidable risk.
Services and solutions
Austral is committed to supporting our clients with a coordinated
range of professional risk management services and insurance solutions.
Our primary objective is to support our clients by the
development of a formal risk management process incorporating a high level
business risk register, a consistent methodology in assessing risk across the
business, and a means to manage and monitor risk decisions.
ASX Principle 7 compliance
If your organisation is a listed company, your risk
management framework should be compliant with Principle 7 Recognise and Manage
Austral has identified that many small to mid cap listed
entities may have difficulty in implementing risk practices which meet the
recommendations. Austral can provide the guidance which will enable you to
Auditing, evaluation and review of risk programs
The ability to provide an objective and professional
assessment of an organisation’s insurance program is one of Austral’s core
skills. This evaluation can identify ineffective or costly insurances, or significant
exposures in policy wordings.
Business continuity planning
The failure to have documented crisis management, disaster
recovery and business continuity planning is an all too common occurrence.
Austral has the experience to assist your organisation to develop and implement
planning relevant to your activities.
In-house risk management training for Boards and executives
Development of a risk management culture throughout an
organisation that is understood and accepted is critical to the success and
continuity of successful risk management practices. Austral has the capability
of providing in-house or online training programs tailored to your specific
Risk profiling, analysis and evaluation
This is the critical process in the development of an
organisation’s risk management framework. We work with you to develop a current
risk register and matrix, the basic tools necessary to implement a sustainable
risk management process. We do this by working with your senior management to support
a consistent view of risk practice across the organisation that is practical
Risk management framework
An organisation’s risk management framework documents the
policy, processes, accountabilities and tolerance to risk. Austral has the
expertise and experience across a broad range of industries to effectively and
efficiently work with organisations to assist the development of the risk
management process as evidence of good corporate governance.