This Risk Management Policy defines Spectrum Networks’ approach to identifying, assessing, mitigating, and monitoring risks that could impact business operations, financial stability, or information security. It ensures that risk is managed consistently across all business areas in alignment with the company’s Risk Management Framework and related policies, including Business Continuity, Disaster Recovery, and Confidentiality.
This policy applies to all employees, contractors, and third parties who have access to Spectrum Networks’ systems, data, or facilities. It covers operational, financial, and cyber risks affecting service delivery, customer data, or corporate governance.
Spectrum Networks is committed to maintaining a proactive and systematic approach to risk management. The company’s processes align with Australian legislation, including the Telecommunications Act, Privacy Act, and the ASD Essential Eight Maturity Model (Level 3). All identified risks are managed in accordance with the principles of likelihood, impact, and control effectiveness.
Risks are identified through ongoing analysis, regular operational reviews, and Business Impact Assessments (BIAs). They are classified into the following categories:
Each risk is evaluated for its likelihood and potential impact. High and extreme risks are prioritised for immediate mitigation.
Risk mitigation strategies are applied proportionally to the identified threat. Spectrum implements the following control mechanisms:
In the event of a disruption or security incident, Spectrum activates its Business Continuity Plan (BCP) and Disaster Recovery Plan (DRP). These plans ensure:
The Risk Management Framework is governed by designated personnel responsible for compliance, testing, and continuous improvement. Governance measures include:
Risk-related information is classified and distributed under Spectrum’s Confidentiality and Non-Disclosure Policy. Detailed risk data may only be shared under approved Non-Disclosure Agreements (NDAs) or as required by regulatory authorities. All disclosures are logged and reviewed to protect commercial and national security interests.
Spectrum Networks maintains a culture of continual improvement through:
This policy is reviewed annually or following a major incident, organisational change, or legislative update. All changes are approved by Spectrum Networks’ executive management to ensure ongoing compliance with the company’s Risk Management Framework.
The following table provides a template for recording identified risks, their evaluation, and mitigation actions. It should be maintained as a controlled document and reviewed regularly by management.
| ID | Risk Description | Category | Likelihood | Impact | Mitigation / Control | Owner | Status |
|---|---|---|---|---|---|---|---|
| R-001 | Core router failure leading to service outage | Operational | Medium | High | Deploy redundant routers and enable failover monitoring | Network Ops | Mitigated |
| R-002 | Data breach via compromised credentials | Cybersecurity | Low | Extreme | Implement MFA, password rotation, and access logging | Security Officer | Active |
| R-003 | Extended supplier outage affecting connectivity | Operational | Low | High | Maintain dual upstream providers and redundancy plans | Infrastructure Manager | Monitored |
| R-004 | Financial loss due to customer churn after outage | Financial | Medium | Moderate | Maintain proactive communication and SLA credits | Finance | Planned |
Note: Risk likelihood and impact should be rated as Low, Medium, High, Moderate, or Extreme. Status options may include Active, Monitored, Mitigated, Planned, or Closed.
Note: Risk likelihood and impact should be rated as Low, Medium, High, Moderate, or Extreme. Status options may include Active, Monitored, Mitigated, Planned, or Closed.