This engagement is the first stage of an internal project to develop a regulatory and operational risk management framework specifically tailored to AMSA’s environment which underpins regulatory development, compliance and operational decision making.
While ultimately this project will seek to develop a uniform regulatory and operational risk framework, this engagement is focussed primarily on developing a framework for the domestic commercial vessel (DCV) fleet.
It is expected that the regulatory and operational risk management framework will sit alongside the AMSA enterprise risk management framework.
In their approach, the successful Tenderer will develop a risk framework that includes:
appropriate risk governance arrangements, based on AMSA’s tolerance and appetite to regulatory and operational risks
common risk definitions of our regulatory operational environment for use across AMSA for reference (Risk Lexicon)
a defensible risk methodology and tools for its use including:
how to identify and categorise regulatory or operational risks
risk criteria including risk equations, scales and matrices to suit AMSA’s operational and regulatory environment and drawing on AMSA’s data
how to measure and assess risk
identifying and analysing regulatory controls including assessing control effectiveness
guidance on data and inputs required by AMSA to maintain the approach (data integrity assessment)
practical tools and guidance for the application and ongoing management of the framework.