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Document Title Version Date Created TRIM Number TAC Risk Framework V1-16 11/08/2016 2016/22959

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TABLE OF CONTENTS ............................................................................................................ 2

1. INTRODUCTION ................................................................................................................ 3

1.1 BACKGROUND ......................................................................................................................... 3

1.2 VET SECTOR REFORMS ......................................................................................................... 3

1.3 TAC APPROACH ...................................................................................................................... 3

1.4 A SHARED RESPONSIBILITY .................................................................................................... 4

2. TAC RISK FRAMEWORK .................................................................................................. 5

2.1 UNDERPINNING PRINCIPLES ................................................................................................... 5

3. HOW TAC MANAGES AND RESPONDS TO RISK ......................................................... 6

3.1 SOURCES OF INTELLIGENCE .................................................................................................. 6

3.2 PROVIDER RISK IDENTIFICATION ............................................................................................ 7

3.3 RESPONSES TO PROVIDER RISK ............................................................................................ 7

3.4 SYSTEMIC RISK IDENTIFICATION ............................................................................................ 8

3.5 RESPONSES TO SYSTEMIC RISK............................................................................................. 8

3.6 RISK TREATMENT .................................................................................................................... 8

4. EDUCATION PROGRAM ................................................................................................. 10

5. COMPLIANCE RECOGNITION PROGRAM ................................................................... 10

6. COMMUNICATION ........................................................................................................... 10

7. MONITORING AND REVIEW .......................................................................................... 11

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Com

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Establishing the context

Risk identification

Risk analysis

Risk evaluation

Risk treatment

Risk Assessment

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HIGH IMPACT RESPONSE LOW IMPACT RESPONSE

RTO Regulatory Response Continuum

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- - - - -

- -

-

- -

Systemic Regulatory Response Continuum

LOW IMPACT RESPONSE HIGH IMPACT RESPONSE

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