Dáil Éireann Debate, Tuesday - 6 November 2012
175. Deputy Brendan Smith asked the Tánaiste and Minister for Foreign Affairs and Trade the plans he has to designate a Chief Risks Officer and appoint a professionally qualified Head of Finance in his Department; and if he will make a statement on the matter. [48402/12]
View answerMy Department pursues a pro-active Risk Management Policy. A Risk Management Committee, chaired by the Head of Corporate Services Division, coordinates risk management across the Department and reports to the Management Advisory Committee (MAC). Individual Heads of Division are responsible for managing Risk in their own areas of operation and Risk management is a standing item on the agenda of the monthly meetings of the MAC. This structure and approach is in line with Department of Finance guidelines. Nevertheless, my Department is constantly striving to enhance its risk management processes in line with best practice. In that context, it is considering a recommendation from the Department’s external Audit Committee that a Chief Risk Officer be designated for the Department. Given the very diverse range of functions fulfilled by the Department and the need to concentrate increasingly scarce staff resources on major current and upcoming operational responsibilities, it is has not been possible to identify a candidate to fulfil the role who is free of line management responsibilities. The Secretary General of my Department invited the audit committee to meet with the MAC to elaborate further on its proposal and set out its view of how a dedicated chief risk officer would operate in the Department and this meeting will take place shortly.
The audit committee has also recommended the appointment of a head of finance at counsellor/principal officer grade who holds a professional accounting qualification and who has significant relevant experience. While the current moratorium on recruitment and the limited possibilities for redeployment of a suitably qualified candidate from elsewhere in the public service means that it has not been possible to implement this recommendation to date, my Department is developing a proposal to strengthen and upgrade its professional capacities in the accounting area which will feature in the Department’s workforce plan which will be finalised shortly.
In the meantime, I note that both internal audits and external Comptroller and Auditor General audits have reported satisfaction with the management and operation of the Department’s Finance Unit.
