9 March 2009

South Pacific spearheads risk management

Wahroonga, New South Wales
Melody Tan

Risk Management Service (RMS) of the Seventh-day Adventist Church in the South Pacific is spearheading a new system that will ensure greater visibility and understanding of organisational risk, therefore increasing efficiency and resiliency in operations.

The Adventist Church in the South Pacific will be implanting Enterprise Risk Management (ERM) across all of the church's operations to ensure risks are managed and reported in a coordinated and systematic way. Entities will also be able to share information on how they manage and control risk.

"Risk management is more than insurance," says Mr Stephen Andrews, manager for RMS in the South Pacific. "The key is to know what your risks are and effectively managing them as part of everyday activity."

Mr Andrews presenting at the Adventist International Risk Management Conference in February.
(photo: Kent Marcus Photography)

ERM encompasses areas of compliance, business continuity plan, governance and internal audit. 18 months in the planning, the ERM program was launched in the region this year and presented at the Adventist International Risk Management Conference in Penang, Malaysia in February.

There are over 14 pilot sites scheduled to begin using ERM in the South Pacific over the next 12 months, starting with RMS, ACA Health Benefits Fund, the Adventist Church in the South Pacific's administration and the church's aged care services and schools.

It is anticipated that it will take up to five years before the entire South Pacific will be using ERM.