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Western Australian Treasury Corporation is committed to maintaining high standards of corporate governance to support its strong market reputation and ensure the corporate vision and objectives are met.

Western Australian Treasury Corporation’s (WATC) corporate governance practices are continually reviewed and updated in-line with industry guidelines and standards.

Recordkeeping

WATC is committed to implementing industry best practice for its recordkeeping and compliance processes and systems. Regular evaluations and reviews, including bi annual staff surveys and routine monitoring, examine the efficiency and effectiveness of WATC’s recordkeeping systems and practices. As per Section 19 of the State Records Act 2000, WATC has an approved Recordkeeping Plan that is valid until 2019.

Bi-annual compliance audits are also undertaken, focusing on recordkeeping compliance, processes and practices. In 2015/16, KPMG undertook the audit and the overall results were positive. Of the six minor recommendations, 2016/17 saw the successful resolution of four, with the remaining two progressing. The next audit is due in the 2017/18 financial year.

In preparation for the upgrade of TRIM, WATC’s electronic document and records management system (EDRMS), a health check of the system took place in November 2016. This check involved an independent technical and functional review of the system. Overall, the results indicated the configuration of the application was generally good, with some recommendations made in regard to database maintenance and the disposal of older records. At 30 June 2017, the majority of these recommendations have been actioned, with the remainder to be finalised at the time of the next upgrade, which is scheduled for completion in December 2017.

During 2016/17, 100 per cent of staff participated in recordkeeping awareness and EDRMS training. Conducted annually, these mandatory training modules provide staff with a reminder of their roles and responsibilities, compliance updates and an opportunity to advance their knowledge and use of the system. At the end of each module, provision of staff feedback helps determine the efficiency and effectiveness of the training. Overall, the feedback received was positive.

In addition to this training, experienced and knowledgeable staff are available to provide recordkeeping advice and EDRMS training on a one-on-one, ad hoc or project basis. Recordkeeping policies, procedures and TRIM user guides are also available to all staff via the corporate intranet.

WATC provides all new staff with comprehensive induction on recordkeeping and EDRMS. Within a week of their starting date, the five new employees this year all received initial training covering:

As part of the induction training, there is also a tailored component to ensure new staff are shown specific items that will assist them with their role at WATC. To help retain the information, the training is as practical as possible, giving new employees exercises and tasks to complete. Conducted at six weeks and again at three months, after the initial training, a one-on-one follow-up gives staff the opportunity to continue, and to enhance, their understanding of recordkeeping practices, responsibilities and systems.

Freedom of Information

The Freedom of Information Act 1992 (FOI Act) enables the public to apply for access to documents held by WATC. Guidance on how to apply for, and obtain, requested documents is set out in WATC’s Information Statement, which is available to the public via WATC’s website.

WATC’s Information Statement, which was updated during the 2016/17 financial year, is prepared in accordance with the requirements of the FOI Act and provides guidance to obtaining access to documents held by WATC.

WATC did not receive any FOI applications during the 2016/17 financial year.

Occupational Safety, Health and Injury Management

WATC continues to maintain its excellent Occupational Safety and Health (OSH) system and culture, with strong organisational-wide support and commitment from the Board of Directors (the Board) through to individual staff. The 2016/17 OSH audit confirmed WATC’s OSH policies and practices align with Australian Standard AS 4801:2001. The OSH audit also recommended two minor improvements that are currently being actioned. The OSH Committee is WATC’s formal mechanism for OSH consultation and comprises safety representatives, management representatives and at least one executive member, currently WATC Chief Executive Officer John Collins. The Committee met every quarter throughout 2016/17, with a focus on continuous improvement of WATC’s OSH system and culture.

A major aspect of WATC’s positive OSH culture is the Wellness Program. This year, the Wellness Program was expanded, with WATC facilitating ergonomic awareness sessions and providing increased opportunities for ergonomic workstation reviews, both conducted by BodySmart Health Solutions. Other Wellness Program initiatives included mental health awareness training, first aid training, skin cancer screening, healthy heart checks, flu vaccinations, healthy nutrition, weight loss challenges and various corporate sporting activities. WATC’s commitment to its Wellness Program was acknowledged and validated when it was ranked third out of 25 Western Australian companies in HBF’s Corporate Wellness Index.

In accordance with the reporting requirements of Treasurer’s Instruction 903 (13), there was one lost time injury as outlined in Table 3. This was managed in accordance with the Workers’ Compensation and Injury Management Act 1981, with the injured employee returned to full duties within one week. No other workers’ compensation claims were made.

Table 3: Occupational Safety, Health and Injury Management Annual Performance – Three-Year Comparison

¹ This indicator examines a three-year trend and, as such, the comparison base is two years prior to the current reporting year.

Workforce

WATC’s workforce numbers decreased from 66 at 30 June 2016 to 65 employees at 30 June 2017. WATC’s turnover remained low at 9.16 percent, but increased slightly from previous years. During 2016/17, three staff retired and three staff resigned from WATC.

WATC continues to tackle gender diversity by reviewing and refining recruitment strategies to remove unconscious bias and by promoting networking and development opportunities for female employees. Gender diversity improved slightly during 2016/17, with females representing close to 31 per cent of WATC employees at 30 June 2017, compared to 27% at 30 June 2016. Table 4 shows WATC’s workforce profile at 30 June 2017.

Table 4: Profile of Workforce

Expenditure on Advertising

Under Section 175ZE of the Electoral Act 1907, WATC is required to disclose any expenditure it makes to:

For the year ended 30 June 2017, the only disclosable expenditure incurred was in relation to advertising, where a total amount of $8,094 was paid to Beilby Corporation and Seek Limited.

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