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Enhancing Risk Management Strategy for DPSA: Brief to Portfolio Committee

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  1. Briefing to the Portfolio Committee on the DPSA’s Risk Management StrategyPresentation to the Portfolio Committee12 May 2010

  2. Outline • Mandate • Background • Purpose of the strategy • Key Aspects of the Strategy • Conclusion

  3. Mandate Section 38 (1)(a)(i) of the Public Finance Management Act states that: • the accounting officer for a department must ensure that the department has and maintains effective, efficient and transparent systems of financial and risk management and internal control. Treasury Regulations 3.2.1 also states that: • the accounting officer must ensure that the department has a risk management strategy, which must include a fraud prevention plan and that a risk assessment is conducted at least annually.

  4. Background • The Department of Public Service and Administration has developed a Risk Management Strategy in line with the National Treasury Risk Management Framework. • This followed a consultative process with all dpsa management. • The strategy was endorsed by both the National Treasury as well as the department’s Audit Committee. • The strategy was approved in November 2009. • The dpsa Audit Committee and Executive Committee (which also serve as a Risk Management Committee) monitor the implementation of the risk management processes.

  5. Purpose of the strategy • To ensure that significant risks are effectively managed. • To assist dpsa management to make informed decisions in improving business performance. • To promote good corporate governance.

  6. Key aspects of the Strategy The Strategy consists of the Risk Management Policy and the Fraud Prevention Plan. Risk Management Policy focus arrears: • Policy statement; • Management’s role, accountabilities and responsibilities in relation to risk management; • Governance structures established to support and oversee the risk management processes, e.g. Audit Committee; • Risk management methodologies and processes.

  7. Key aspects of Strategy (cont..) Fraud Prevention Plan focus arrears: • Fraud policy statement and response plan; • Code of Conduct and fraud awareness processes; • Systems and procedures for preventing and detecting fraud and corruption, management and reporting channels; • Protection of whistleblowers; • Investigations, disciplinary processes and redress. In developing the plan the following have been considered: Prevention and Combating of corrupt activities Act, Protected Disclosure Act, Public Sector Anti-corruption Strategy, etc.

  8. Conclusion • The department has always in the past encouraged a culture of risk management through its decision making and this has never been prevented by the non-existence of the risk management policy (that was due to capacity challenges).

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