Library and Archives Canada
Symbol of the Government of Canada

Institutional links

About Us

Response of Library and Archives Canada to the Round VIII Management Accountability Framework
Action Plan 2011—2012

Previous | Table of Contents | Next

Risk Management

In recent years, government-wide expectations of good governance and modern comptrollership have emphasized considerations around risks in all organizational activities at the strategic and operational levels. LAC has revised its risk profile to reflect strategic and corporate risks, and more specifically, to reflect its modernization agenda.

LAC acknowledges the need to build its risk-management capabilities. For several years now, LAC has kept pace with Integrated Risk Management (IRM) within the institution to improve outcomes by managing risk dynamically and by instituting appropriate mitigation measures. The institution acknowledges the importance of developing a risk-based overview of its environment and to set its priorities in an appropriate and reasonable manner. Recognizing the importance of risk information in planning and decision-making processes, LAC will continue to integrate risk-management practices into all aspects of its business.

Area of Management TBS evaluation
Integrated Risk Management (AoM 9) Opportunity for Improvement

TBS Recommendations:

  • LAC should adjust risk alignments and accountabilities in Round IX.
  • LAC is encouraged to follow through on its plans to increase communication of its IRM approach and risk information and promote the Corporate Risk Profile (CRP) to staff to ensure that it is used systematically to support decision making and contribute to the development of the organization's risk-management culture.
  • LAC should ensure a consistent and coherent use of risk management across the organization. Information on key risks, as contained in the CRP, should be used more consistently to support improvements of organizational performance.
  • Expectations should be clearer when senior management provides some leadership for IRM.
  • LAC is encouraged to maintain momentum on the implementation of the modernization agenda, and to continue building a foundation of risk-management capacity within the organization and to demonstrate how risk management improves decision making and organizational performance.

LAC Action Plan:

  1. LAC will open dialogue with stakeholders to discuss risks on a regular basis as part of its outreach stakeholder relations plan.
  2. LAC will develop a communication strategy for a LAC Risk Profile.
  3. LAC will review and align the Risk Management Action Plan with the new CRP and develop an implementation strategy.
  4. LAC will review the accountability level in the CRP.
  5. LAC will develop a Management Corporate Risk Monitoring process.

Previous | Table of Contents | Next