Meeting of NDIA Board

Minutes

28 November 2023 9:00am – 3:00pm (AEDT) 121 Henry Street, Penrith / Teams

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Minutes

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OFFICIAL: SENSITIVE

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iS 22 - irrelevant matter

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Minutes

s 22 - irrelevant matter

Audit Committee

Chair of the Audit Committee, Mr Innes, provided a brief update, noting that Board members had all been present at the Audit Committee meeting the previous day.

Risk Committee

Chair of the Risk Committee, Ms Diamond, provided a brief verbal overview of the Risk Committee meeting of 27 November 2023, noting several Committee-related matters for decision would follow during the Board meeting.

Annual Review of NDIA Risk Management Strategy

Mr Sullivan joined the meeting.

Mr Sullivan introduced the item and gave an overview of the key matters for the Board’s consideration, as set out in the paper.

The Board noted the substantive discussion on this item was had at the Risk Committee meeting the day prior, with a majority of Board members present.

Resolution:

The Board endorsed the proposed new NDIA Risk Management Strategy for submission to the Ministerial Council.

Strategic Risk Settings for FY 2024-24

Mr Sullivan introduced the item and gave an overview of the key matters for the Board’s consideration, as set out in the paper.

The Board noted the substantive discussion on this item was had at the Risk Committee meeting the day prior, with a majority of Board members present.

Resolution:

The NDIA Board approved the Strategic Risk Settings for FY2023-24, including tailored risk appetite statements, Key Risk Indicators against mitigation strategies and associated targets and Current / Target risk ratings.

19. Chief Risk Office (CRO) Report

Mr Sullivan introduced the item and gave an overview of the key matters for the Board’s consideration, as set out in the paper.

The Board briefly discussed the key elements of the CRO Report, noting the substantive discussion on this item was had at the Risk Committee meeting the day prior, with a majority of Board members present.