Statement of Corporate Intent MAC Business 1 July 2006 to 30 June 2009
Tabled paper 822
Tabled papers for 10th Assembly 2005 - 2008; Tabled papers; ParliamentNT
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The refocused and refreshed key TIO Group Corporate strategies for the planning period of 2006/7 through to 2008/9 are as follows: Prudential Management Cultural Change New Customer Growth Productivity and Efficiency Gains Distribution Product Management and Development Management Information System enhancement Technology Vision Customer focus These nine key TIO Group Corporate Strategies are identified as central to the continuing success of the TIO Group and the MAC Business through achieving the desired results for the owner - the Northern Territory Government. The following information is provided on the basis that the activities are intended to have a benefit to the TIO Group as a whole, as well as, and specifically, the MAC Business. As such the following corporate strategies and associated outcomes are those relevant to the MAC Business. 2.1.4 Prudential Management Summary/Highlights Key Corporate Strategy Initiatives (How/Activities) When Measurement of success Prudential Risk Management Framework 30 June 2007 Achieve long Management enhanced/continual improvement term solvency Corporate wide project management framework 30 June 2007 levels of 20% General Commentary This strategy (and initiatives summarised above) is to ensure that the assets and liabilities of the TIO Group (and the MAC Business) are managed in a prudent and responsible manner. The key elements of the Prudential Management Strategy relevant to the MAC Business is the maintenance of conservative risk profiles through the Risk Management Framework and the achievement of the long term solvency ratio. The management of strategic and operational risk is guided by the TIO Group's risk Management Framework. Under the Framework, the Board has set levels of risk tolerance (or acceptability) to maintain a conservative risk profile. This profile can be evidenced through the TIO Group and MAC Business reinsurance arrangements which provide suitable coverage for excessive liabilities accepted by the MAC Business. Statement of Corporate Intent - MAC
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