The VGCCC actively identifies, manages and monitors risk as a core part of delivering its regulatory mandate, in line with the Victorian Government Risk Management Framework. We embed a positive risk culture that supports early identification, clear accountability and timely escalation of issues, with risk considerations integrated in both strategic and operational decision-making.
We have identified 7 strategic risks, which are regularly reviewed by the Executive, the Audit and Risk Management Committee and the Commission.
We continue to strengthen our controls, while recognising that our risk profile continues to evolve alongside shifts in the external environment and our strategic direction. Key influences include funding constraints, capacity pressures, and the pace of industry change.
Our strategic risks
- Insufficient funding to deliver legislative obligations, VGCCC strategic ambitions and meet government, industry and community expectations.
- Failure to take reasonable steps in our regulatory approach to minimise gambling harm and prevent criminal influence.
- Inability to keep pace with industry change and innovation.
- Inadequate systems that are not fit for purpose to achieve our strategic objectives.
- Insufficient capability and/or capacity to deliver on VGCCC’s strategic ambitions.
- Inadequate systems and processes to support the health, safety and wellbeing of our people.
- Failure to uphold those standards of integrity, transparency and accountability which would undermine public trust and confidence in the VGCCC.
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