Treasury Managed Fund
A few key ways in which GIO assist TMF Agencies to manage claims and improve claims performance include:
Policy Management – setting up new policies, maintaining existing, renewing and exiting policies.
This includes inducting new TMF Agencies to the TMF, providing certificates of cover (as required), managing declarations and contributions, as well as developing and administering TMF Agency Business Profiles.
This includes responding to TMF Agency enquires about the cover provided by the TMF Statement of Cover.
Agency Performance – data analysis and reporting, meetings, business improvement.
This includes regular reporting and trend analysis, general advice, training and various risk reduction focused projects.
Our Operational Risk Management Advisors understand that very few things in life are completely certain. Risk is defined as the effect of uncertainty on objectives and risk management refers to the activities that are directed towards identifying and controlling this risk. In other words, those activities that aid us in making decisions in a way that makes it most likely that we will achieve the outcomes that we have planned. GIO provides guidance to TMF Agencies on how to manage risk effectively and in accordance with the international standard on risk management (AS/NZS ISO 31000:2009).
The GIO Operational Risk Management Advisors provide value added (non fee for service) risk management advice and support to TMF Agencies relating to the management and incidence of general claims. This predominantly includes:
- Responding to requests for risk management advice following notification of a specific claim or incident, to identify and recommend loss reduction strategies.
- Proactively identifying trends and emerging issues in an Agency’s claim experience and assisting with strategies to address those trends and issues. This may involve working with individual or multiple Agencies to improve their approach to risk management through various methods including risk assessments, ongoing communication re best practices (delivered through a combination of various Alerts, risk management programs and seminars.
The results of the operational risk management activities should be achieved in the short to medium term (weeks to months) and success is measured against project or business unit key performances indicators (KPI’s).