JCAD CORE Risk management software: Simple, flexible and offers value for money
Anglian Water is responsible for the largest geographical area of any water company in England and Wales supplying drinking water and water recycling services to more than 6 million domestic and business customers in the East of England and Hartlepool.
Problem
Risk in Anglian Water has always been managed well at the local level; however the methodologies and recording processes used by individual business units weren’t consistent in their approach. This made it difficult to gain a full understanding of risk across the organisation and to co-ordinate risk management activity. Recently the main regulator of the water industry, OFWAT, has decreed that all water companies will demonstrate that risk management is routinely and effectively practiced with significant penalties for failing to do so. Therefore, the requirement to have in place a system which can satisfactorily demonstrate this is paramount.
Solution
Chris Winfield has worked for Anglian Water for a number of years in a variety of roles and is currently risk manager. Having extensive knowledge of the business and significant experience of management systems Chris was tasked with investigating risk management solutions which would enable a coordinated and consistent approach to be taken. The ability to import documentation and other evidence as well as providing an audit trail of changes and reviews was essential.
Chris researched a number of tools but found many to be too complex and admin heavy which he feared the business would find these too onerous to properly utilise. Chris had a demonstration of JCAD’s risk management software and could immediately see how the simplicity of the system, coupled with the easy reporting functionality could benefit Anglian Water.
At its core, Anglian Water has 6 strategic objectives; they aim to:
- Influence and respond to market reforms and regulatory change
- Respond to changing customer influence and power
- Drive business efficiency & regulatory performance
- Secure long term water resources and resilience
- Manage quality and environmental risks
- Develop the organisation and culture
There are many principal and operational risks that need to be managed efficiently and effectively to ensure the successful delivery of these objectives.
JCAD CORE offers a company-wide risk and compliance solution which uses multiple registers for meeting the needs of a large number of departments. This promotes consistency and best practice across the organisation and allows them to better understand the risks facing the company as a whole. With a greater understanding of the level of mitigating controls required, consideration can be given to the best application of resources, and cost saving opportunities can be highlighted and pursued.
Results
Having implemented CORE, Anglian Water has benefitted from:
- Simplicity
CORE’s intuitive nature encourages everyone to use it.
- Automatic Triggers
Risk and control owners will receive reminder e-mails prior to due dates. Any actions that are not completed by the due date will automatically trigger an email both to the owner of that action and the risk owner. This ensures that outstanding actions are picked up and investigated.
- Centralised information
CORE offers a way to ensure all information is centrally stored and accessible.
- Multiple Registers
Further customised registers have been developed to manage Covenants and Financial Controls. New registers for engineering infrastructure and regulatory reporting are also being developed. This will further progress the integration of business unit functions and provide an enhanced holistic view of risk management across Anglian Water. This holistic approach will demonstrate the effective management of risk to both internal and external auditors and to the regulators.
- Reporting
Anglian Water performance management teams meet regularly to consider reports of incidents, events, and overall business performance. This information provided by CORE is readily accessible and reports can be easily provided to enable considered and focused discussion.
When looking for a Risk Management Solution, Chris Winfield would advise: ‘Find a solution that is simple and flexible to ensure it engages the users. The cost should also be proportionate to what you require it to do.’ – Chris Winfield, Risk Manager, Anglian Water
