Managing Risk

City West Water has a Risk Strategy and Program that ensures we have a robust and co-ordinated method of managing risk across the business. The Strategy details the practical elements that will be undertaken so the business has a systematic approach to risk management.

As part of the Strategy we maintain a business-wide Risk Register that seeks to capture foreseeable risks, recognise, understand and appreciate the nature and potential level of these risks and develop suitable treatment strategies to ensure that the interests of customers and key stakeholders are protected. The Risk Register includes both strategic and operational risks and is subject to structured reviews.

The Business Risk Committee (comprising the Executive Management Committee) and the Board Audit Committee oversee the Risk Strategy and Program. The following table is based on a  Risk Register and details risks of a high or significant level that are not commercially sensitive, together with their key control processes. Practical examples of these control measures are highlighted below to indicate the integrated approach we undertake in managing risks and the precautionary approach that is necessary for their management.