Treasury Risk Maturity Assessment Tool

The draft Treasury Risk Maturity Assessment Tool (Tool) has been developed through a collaborative process sponsored by NSW Treasury. This involved collaboration from a working group comprised of cluster and other key agency chief risk officers and risk managers, as well as input from Protiviti. These contributions are gratefully acknowledged. 

The purpose of the tool is to support the improvement of risk management, culture and capability across the NSW public sector. The tool provides agencies with a systematic, uniform approach of self-assessment that will allow agencies to measure risk maturity, identify areas to improve, and communicate results to leadership teams (agency and cluster) and Audit and Risk Committees. 

The key benefits of the tool include:

  • helping agencies to assess their own maturity level 
  • identifying specific areas to improve risk culture and capability 
  • supporting whole of government improvements to risk management through a uniform tool and
  • allowing agencies to compare their results over time. 

The use of the Tool provides further assistance to agencies in meeting their requirements under section 3.6 of the Government Sector Finance Act 2018, which requires the Accountable Authority (i.e. Secretaries and agency heads) “to establish, maintain and keep under review effective systems for risk management … that are appropriate systems for the agency.” 

A pilot has commenced with a number of agencies and Treasury will release a revised version of the Tool based on feedback from the pilot. 

Treasury Risk Maturity Assessment Tool  

The draft Treasury Risk Maturity Assessment Tool Guidance Paper (refer to link below) is based on the NSW Agency Risk Operating Model and includes the Risk Maturity Matrix and supporting methodology and information.

NSW Agency Risk Operating Model 

The NSW Agency Risk Operating Model below shows the three elements and nine attributes contained in the Risk Maturity Matrix that need to be considered when assessing the risk maturity of an agency. 


The accompanying Treasury Risk Maturity Assessment Tool Spreadsheet (link below) enables Agencies to conduct a self-assessment using the Tool and produce a summary of their risk maturity assessment. This includes presenting a current maturity state and a program of activities to reach the future desired maturity state.  


Contact us

For further information on the Treasury Risk Maturity Assessment Tool, contact Treasury’s Financial Management Governance & Analytics Branch at

Last updated: 01/11/2019