Risk Objectives
We are committed to fostering a thriving IP ecosystem that inspires and encourages innovation, achieves government objectives, and adds value to the global IP community. We uphold the integrity of the system and keep it safe from abuse.
Risk Response
We have established processes for the identification and prioritisation of policy issues to ensure the IP legislative framework keeps pace with what we are doing and what is happening within the broader IP ecosystem. This is governed by our Strategic Policy and International Committee.
Risk Objectives
As an administrator and service provider for Australia’s IP rights system we are committed to delivering high-quality IP rights. Our customers must have trust in the value of IP, have confidence in our ability to meet their needs, easily interact with our services, and have access to accurate information and data.
Risk Response
The production of high-quality IP rights is critical to our work and is supported through the implementation of our Quality Management System. The Information and Data Committee oversees the governance of information and data management within the agency.
Risk Objectives
We engage effectively with a diverse range of customers and stakeholders, domestically and internationally. We focus on collaboration and meaningful engagement to improve our effectiveness, performance, and expand our sphere of influence.
Risk Response
We have strategies and procedures in place to manage and implement activities to support the growth and sustainment of relationships with customers, stakeholders and partners.
Risk Objectives
We meet and administer our legislative responsibilities, fulfilling the Commonwealth’s policy agenda, adhering to our Accountable Authority Instructions, and maintaining relevant certifications.
Risk Response
We have established frameworks, and underpinning policies and procedures, to govern IP Australia in accordance with our legislative obligations. The Executive Board has responsibility for implementation, and our annual internal audit program and Audit Committee provide independent advice and assurance.
Risk Objectives
We take a strategic approach to investment to ensure our long-term sustainability and build our capacity to adapt to the changing needs of our customers and stakeholders.
Risk Response
Our established governance arrangements, financial management practices and internal controls, enable us to monitor, manage and report on our entity’s financial performance and sustainability. These activities are overseen by IP Australia’s Investment, ICT and Property Committee. Independent advice and assurance is provided through our internal audit programs, and our Audit Committee.
Risk Objectives
Our diverse, agile and capable workforce delivers value to the Australian community and our international partners. We aim to be an employer of choice and remain at the forefront of flexible working solutions.
Risk Response
We have established a Strategic Workforce Plan and People Strategy to leverage our existing workforce and determine how we can meet future workforce needs. The Workforce Strategy Committee is responsible for the governance of workforce issues.
Risk appetite
IP Australia has established a risk framework that empowers staff to make decisions within their area of influence and responsibility. Clear appetite statements are set by the Executive Board for each category of risk and reviewed each quarter to ensure they appropriately reflect the organisation’s appetite against the following scale.
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1. Averse
Preference for options that avoid risk.
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2. Minimal
Preference for ultra-safe options with low inherent risk.
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3. Cautious
Preference for safe options with a low degree of residual risk and limited potential for reward.
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4. Open
Willing to consider all options with a preference for the most prudent options and an acceptable level of reward.
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5. Hungry
Enthusiasm for innovation leading to preference for high rewards despite greater inherent risk.
IP Australia’s approach to risk management is not about stopping or preventing action, it is about empowering staff to engage with risk to support informed choices. As an agency, we are committed to developing a positive risk culture where all staff confidently engage with risk as part of their day-to-day work and effectively respond to uncertainties and opportunities. The maturity of our risk management culture is regularly reviewed as part of our internal audit program and other benchmarking activities.
We embed effective risk management through the following business processes:
- Risk management and assessment systems to support project, process, and planning activities
- Operational planning
- Consideration of risk management at quarterly executive board meetings, governance committee meetings and IP Australia’s audit committee.
Engaging with risk is a core capability for all staff members, and individual performance and development plans are used to directly engage staff with risk capability development. Staff capability is supported through structured and ad hoc learning and development processes aimed at all stages of the learning journey, from induction through to SES specific programs.
IP Australia’s Risk Management Framework includes:
- Accountable Authority Instructions — sets out instructions from the Director General on managing risk within IP Australia
- Risk Management Policy and Framework — defines IP Australia’s approach to the management of risk, including our attitude to and objectives for risk management
- Risk Management Plan — ensures that risk management processes are efficiently integrated into day-to-day work
- Risk objectives, appetites, and tolerances — the framework used by IP Australia to measure risk
- Information sheets — provide a pragmatic, simple and consistent approach to help staff manage risk.
Strategic risks
IP Australia faces a broad range of risks reflecting its responsibilities as an administrator, service provider and regulator for Australia’s IP rights system. The following categories of strategic risk are used to measure and monitor threats and opportunities that may impact the achievement of IP Australia’s Strategic Objectives and Purpose.