Managing Risk
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SPARC must manage and mitigate risk areas in addition to the normal corporate risks of disaster recovery, succession, and security etc faced by all organisations in New Zealand. In particular, SPARC operates in a sector and environment where the expectations placed on the organisation by its stakeholders are not homogenous, in some cases are contradictory and in many cases are unachievable.
Reputation risk management is important for SPARC as it seeks to match its capacity against the expectations of the sector.
SPARC also actively manages risks to its brands, in particular SPARC, Push Play and the New Zealand Academy of Sport. These brands form an important part of SPARC's delivery mechanism to achieve the outcomes described in this Statement of Intent.
SPARC operates a risk framework coordinated by the Board and Management that covers the following components:
- Oversight by the Audit and Risk Committee of the Board
- The financial control environment
- Physical and electronic security
- Disaster recovery planning
- Brand management
- Insurance and indemnity
- Project management methodologies
- Annual risk assessments
- A comprehensive internal audit function.
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Updated | 22 Mar 2007.
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