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Direction 3.7.1 of the Standing Directions under the Financial Management Act 1994 requires that the either the head of a Department or the board of a Public Body, as applicable, is responsible for applying the Victorian Government Risk Management Framework (VGRMF).

VMIA offer a range of resources and services to support agencies to meet the mandatory requirements for 3.1.1 and 3.1.2 of the VGRMF.

The existing Victorian Government Risk Management Framework 2015 remains current until 30 June 2021.

The first year that agencies must attest against the revised VGRMF will be the 2021-2022 financial year. A brief outline of what’s changed in the VGRMF (2020) is available to explore in our key changes guide [PDF, 1.34MB]. You can also attend our VGRMF – what’s new and changed webinar to understand more.

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Department of Treasury and Finance