Customs Launches Its Strategic Risk Management Plan
Risk Management in Customs
The Papua New Guinea Customs Service (Customs) is committed to managing and where possible minimising the exposure of risks to our clients, stakeholders, employees and assets resulting from Customs activities, services and the environment in which Customs operates
Customs manages risk through the application of effective risk management principles and practices:
- an integration of risk management with the agency’s overarching governance, financial, assurance and compliance frameworks;
- ensuring that the accountability and responsibility for risk management is clearly defined; and
- application of risk management techniques whereby all staff are responsible for the identification and management of risk in accordance with the risk management framework.
Risk is inherent in all Customs functions. Customs uses risk management processes to improve decision-making and to minimise the impact of an event occurring that may affect its ability to perform its functions or provide a service.
Customs risk management process is conducted in accordance with the International Standard for Risk Management (ISO 31000:2009).
Risk can be defined as "the chance of something happening that may have an impact on objectives". Risk management is, therefore, defined as "the systematic application of management policies, procedures and practices to establish the context, identify, analyse, evaluate & prioritise, treat, monitor and communicate risks".
|Category||Customs Attitude to Risk Level||Response to Strategic Risk||Responsibility Levels|
|Extreme||Customs does not accept / tolerate risk at this level. Customs will seek to avoid the risk entirely or transfer the risk to Government.||Urgent response required after Customs becomes aware of risk level. Financial resources, staff or new technology may be required immediately.||Commissioner of Customs|
|High||Customs undertakes high risk activities from time to time but prefers to avoid the risk where possible or reduce the risk level in other circumstances.||Response required quickly. Financial resources, staff or new technologies may be required in the short-term, or in the new financial year.||Commissioner of Customs Customs Executive|
|Medium||Customs will accept / tolerate risk at this level but will also seek to reduce the risk if possible||Response required within the next 6 months. Financial resources, staff or new technologies may be required in the next financial year.||Customs Executive All Managers and Supervisors|
|Low||Customs accepts / tolerates risk at this level||No extra response required beyond normal business activity monitoring. Additional resources will not be provided.||Customs Executive All officers|
A copy of PNG Customs newly launched Strategic Risk Management Plan can be found here found here