Strategic objective 3: Navigation services

2021–22 key activities:
3.1	Build a risk-based picture of our AtoN estate and strengthen governance and coordination of decisions, AtoN management and investment.
3.2	Develop an Enterprise Asset Management system for capital planning and management including long term maintenance management (CAP)

Primary Enterprise Risk	Moderate Risk Rating	Key mitigation strategies
(1) AMSA is an ineffective regulator	Risk Appetite & Tolerance	AMSA has a regulatory plan, policies and an annual compliance program. Key mitigation strategies (controls) are monitored through AMSA’s internal audit program and management system, established regulatory scheme, ship inspection program, effective national network of aids to navigation and other navigational services and ongoing engagement with industry. Risk tolerance statement: We have low tolerance for regulatory approaches that are inconsistent with our mandated obligations under the AMSA Act 1990. We have low to moderate tolerance for risk in the pursuit of innovative regulatory approaches, for example alternative means of compliance—consistent with our Act and Statement of Regulatory Approach 2018. In very specific instances, we have moderate to high tolerance for the application of contemporary and potentially ground-breaking regulatory approaches (including research) that allow us to respond dynamically to changes in our operating environment.¹

Primary Enterprise Risk

Moderate Risk Rating

Key mitigation strategies

(1) AMSA is an ineffective regulator

Risk Appetite & Tolerance

AMSA has a regulatory plan, policies and an annual compliance program.
Key mitigation strategies (controls) are monitored through AMSA’s internal audit program and management system, established regulatory scheme, ship inspection program, effective national network of aids to navigation and other navigational services and ongoing engagement with industry.

Risk tolerance statement:

We have low tolerance for regulatory approaches that are inconsistent with our mandated obligations under the AMSA Act 1990. We have low to moderate tolerance for risk in the pursuit of innovative regulatory approaches, for example alternative means of compliance—consistent with our Act and Statement of Regulatory Approach 2018.

In very specific instances, we have moderate to high tolerance for the application of contemporary and potentially ground-breaking regulatory approaches (including research) that allow us to respond dynamically to changes in our operating environment.¹