Our Enterprise Risk Management Framework

We believe that effective risk management is fundamental to MDA National being a sustainable business. 

We believe that our robust risk management policies and practices are the foundation for achieving the strategic and business objectives which support our services to Members.

Risk Culture

The Boards and Management of MDA National are committed to a strong risk culture throughout the organisation that encourages material risks to be continuously identified, managed and resolved in the normal course of day-to-day business from the Board to business unit level.

The Boards communicate to management their view of the risk culture that is appropriate to ensure that MDA National operates within its articulated risk appetite and is committed to influencing, developing and fostering and leading by example a sustainable, strong, transparent, open and appropriate risk management culture.

Risk Management Framework

As a registered insurer MDA National Insurance (MDANI)  has a formal risk management framework which follows regulatory requirements The Board of MDANI has ultimate responsibility for MDANI’s Risk Management Framework, for ensuring an adequate system of risk management is established and maintained, for setting and articulating the organisational risk appetite and for oversight of its implementation by management. The Board Risk and Audit Committees assist the Board in this oversight.

There are a number of policies, processes and controls in place that support our Risk Management Framework and enable our strong risk culture. These include our Risk Management Strategy, Compliance Policy and Code of Conduct. We also regularly monitor changes in our legislative and regulatory environment and industry practices to ensure our Risk Management Framework reflects industry best practice.


Our internal auditor conducts audits of internal controls and processes relating to key functions under a rolling three year internal audit plan which is prepared with management input and approved by the Audit Committee. The rolling three year plan includes, over that period, reviews of all key elements of the Risk Management framework.