The Compliance, Regulation and Risk group supports compliance and quality assurance with key regulatory frameworks.
The Compliance team maintains the overarching compliance and privacy management frameworks, oversees and monitors compliance performance University-wide and provides advice on legislative compliance and privacy requirements.
The focus of the Compliance function is to:
- Maintain the overarching compliance and privacy management frameworks
- Oversee and monitor compliance performance University-wide
- Provide advice on regulatory compliance and privacy requirements
- Implement and maintain effective compliance related training
- Undertake compliance process audits
- Investigate and resolve privacy / compliance complaints and reported breaches
- Liaise internally and externally on compliance related matters
- Regularly report to the Vice-Chancellor’s Executive and Council’s Audit and Risk Management Committee.
The Regulation group supports RMIT’s compliance and quality assurance with key regulatory frameworks.
- Strategic engagement with external regulators, planning and coordination of external reviews
- Renewal of registration applications and responses to regulatory agencies (TEQSA, ASQA, CRICOS)
- Advice on issues relating to compliance and quality assurance in all jurisdictions where RMIT is operating
- Implementation and administration of the ESOS regulatory framework
- Management of RMIT’s CRICOS registration requirements
- Administration of student loan programs including US and Canadian Financial Aid
Risk Management Group
The Risk Management Group has responsibility for coordination of risk management activities within the University and is also responsible for the general management, administration, maintenance and development of the insurance related business of the University and its controlled entities.
The Risk Management group provide the following services:
- assisting management to identify risks and develop risk mitigation and monitoring strategies as part of the risk management framework
- facilitating risk management workshops
- risk advisory service for staff and project teams
- facilitating risk management education / awareness sessions
- advice and training regarding the use of risk management application tools
- monitoring and reporting on the implementation of risk management strategies
- support business units in the creation and revision of business continuity plans
The University’s Insurance Office manages the protection and insurance arrangements within RMIT, with the exception of workers compensation which is managed by Human Resources.
The University has a comprehensive insurance program protecting its assets, staff and students.
The design and level of cover is reviewed annually following consideration of operating risks and changes in the marketplace.
Insurance management includes:
- Ensuring that the University, its staff, students and controlled and affiliated entities have appropriate levels of insurance coverage for the range of activities undertaken and placing additional cover where required
- Managing the organisation-wide collection of data for the annual declaration of activities to the University’s insurers/underwriters
- Strategic design, oversight and placement of the University’s insurance program
- Provision of policy interpretation and advice to insured parties
- Liaising with the University’s insurance broker to ensure the timely provision of claims notifications received from all areas of the business.
- Assisting insured parties with claims management and advice