{ "entity_id": "O-004841", "folder": "Regional-Investment-Corporation", "name": "Regional Investment Corporation", "type": "Corporate Commonwealth Entity", "jurisdiction": "Commonwealth", "portfolio": "Agriculture, Fisheries and Forestry", "website": "https://www.ric.gov.au/", "data_status": "rich", "completeness": { "has_strategy_brief": true, "has_strategy_structured": true, "has_vision": false, "has_kpi_targets": true, "has_kpi_results": true, "has_strategy_overview": true, "has_legislation_text": true, "has_legislation_structured": false, "has_global_initiatives_text": false, "has_global_initiatives_structured": false, "n_global_initiatives": 0, "has_ideas": true, "has_artifacts": true, "n_ideas": 12, "n_legislation": 0, "n_artifacts": 12, "n_kpi_targets": 2, "n_kpi_results": 2, "n_outcomes": 1, "verified_own_data": true }, "strategy_profile": { "status": "published", "confidence": "high", "summary": "To support the growth, resilience, and sustainability of Australia’s agricultural economy [AR p.7]", "official_site_url": "https://www.ric.gov.au/", "source_documents": [ { "type": "annual_report", "title": "Annual Report 2024/25", "url": "https://www.ric.gov.au/sites/default/files/documents/RIC_25-70_2024-25_Annual_Report.pdf", "period": "2024-25", "confidence": "high" }, { "type": "annual_report", "title": "Annual Report 2023/24", "url": "https://www.ric.gov.au/sites/default/files/documents/RIC_Annual_Report_23-24_CL.pdf", "period": "2023-24", "confidence": "high" }, { "type": "annual_report", "title": "Annual Report 2022/23", "url": "https://www.ric.gov.au/sites/default/files/documents/2022-23%20Annual%20Report_Regional%20Investment%20Corporation%20cl.pdf", "period": "2022-23", "confidence": "high" }, { "type": "annual_report", "title": "Annual Report 2021/22", "url": "https://www.ric.gov.au/sites/default/files/documents/20220926%20Annual%20Report%202022%2001.pdf", "period": "2021-22", "confidence": "high" }, { "type": "annual_report", "title": "Annual Report 2020/21", "url": "https://www.ric.gov.au/sites/default/files/documents/Annual%20Report%20202021%20Web.pdf", "period": "2020-21", "confidence": "high" }, { "type": "corporate_plan", "title": "Corporate Plan 2025/26", "url": "https://www.ric.gov.au/sites/default/files/documents/RIC%2025-51%20FY2025-26%20Corporate%20Plan.pdf", "period": "2025-26", "confidence": "high" }, { "type": "corporate_plan", "title": "Corporate Plan 2024/25", "url": "https://www.ric.gov.au/sites/default/files/documents/20240828_RIC-Corporate-Plan-FY2024-2025_CL.pdf", "period": "2024-25", "confidence": "high" }, { "type": "corporate_plan", "title": "Corporate Plan 2023/24", "url": "https://www.ric.gov.au/sites/default/files/documents/RIC-2023-24FY-Corporate-Plan.pdf", "period": "2023-24", "confidence": "high" }, { "type": "corporate_plan", "title": "Corporate Plan 2022/23", "url": "https://www.ric.gov.au/sites/default/files/documents/2022-23-RIC-Corporate-Plan.pdf", "period": "2022-23", "confidence": "high" }, { "type": "corporate_plan", "title": "Corporate Plan 2021/22", "url": "https://www.ric.gov.au/sites/default/files/documents/20240708_Corporate-Plan-2021-22.pdf", "period": "2021-22", "confidence": "high" } ], "purpose": { "text": "To support the growth, resilience, and sustainability of Australia’s agricultural economy [AR p.7]", "source_url": "https://www.ric.gov.au/sites/default/files/documents/RIC%2025-51%20FY2025-26%20Corporate%20Plan.pdf", "source_page": 7, "source_deep_url": "https://www.ric.gov.au/sites/default/files/documents/RIC%2025-51%20FY2025-26%20Corporate%20Plan.pdf#page=7" }, "vision": null, "strategic_priorities": [ { "title": "Supporting the growth, resilience, and sustainability of Australia’s agricultural economy", "description": "Supporting the growth, resilience, and sustainability of Australia’s agricultural economy", "source_url": "https://www.ric.gov.au/sites/default/files/documents/RIC%2025-51%20FY2025-26%20Corporate%20Plan.pdf", "source_page": null, "source_deep_url": "https://www.ric.gov.au/sites/default/files/documents/RIC%2025-51%20FY2025-26%20Corporate%20Plan.pdf" } ], "values": [ { "name": "Be bold, act with purpose and act as one", "description": "", "source_url": "https://www.ric.gov.au/sites/default/files/documents/RIC%2025-51%20FY2025-26%20Corporate%20Plan.pdf", "source_page": null }, { "name": "We are down to earth", "description": "", "source_url": "https://www.ric.gov.au/sites/default/files/documents/RIC%2025-51%20FY2025-26%20Corporate%20Plan.pdf", "source_page": null }, { "name": "We embrace difference", "description": "", "source_url": "https://www.ric.gov.au/sites/default/files/documents/RIC%2025-51%20FY2025-26%20Corporate%20Plan.pdf", "source_page": null } ], "outcomes": [ { "name": "Outcome 1: Encourage growth, investment and resilience in Australian farm businesses and rural and regional communities", "description": "By delivering the Commonwealth’s farm business concessional loans", "activities": [ "Delivering concessional loans to farm businesses", "Supporting farm businesses through financial disruptions" ], "source_url": "https://www.ric.gov.au/sites/default/files/documents/RIC%2025-51%20FY2025-26%20Corporate%20Plan.pdf", "source_page": 7, "source_deep_url": "https://www.ric.gov.au/sites/default/files/documents/RIC%2025-51%20FY2025-26%20Corporate%20Plan.pdf#page=7" } ], "performance_measures": [ { "code": "CCE01", "measure": "Average total days to decision of 50 days", "target": "Average total days to decision of 50 days", "latest_result": "50 days", "status": "Achieved", "target_source_url": "https://www.ric.gov.au/sites/default/files/documents/RIC%2025-51%20FY2025-26%20Corporate%20Plan.pdf", "target_source_page": null, "result_source_url": "https://www.ric.gov.au/sites/default/files/documents/RIC_25-70_2024-25_Annual_Report.pdf", "result_source_page": null }, { "code": "NPS", "measure": "Net Promoter Score", "target": ">20%", "latest_result": ">20%", "status": "Achieved", "target_source_url": "https://www.ric.gov.au/sites/default/files/documents/RIC%2025-51%20FY2025-26%20Corporate%20Plan.pdf", "target_source_page": null, "result_source_url": "https://www.ric.gov.au/sites/default/files/documents/RIC_25-70_2024-25_Annual_Report.pdf", "result_source_page": null } ], "document_alignment_terms": { "must_support": [ "To support the growth, resilience, and sustainability of Australia’s agricultural economy [AR p.7]", "Supporting the growth, resilience, and sustainability of Australia’s agricultural economy" ], "watch_terms": [ "Average total days to decision of 50 days", "Net Promoter Score" ], "avoid_claiming_without_evidence": [] }, "review_note": "" }, "global_initiatives": null, "strategy": { "reporting_period": "2024-25", "corporate_plan_period": "2025-26", "vision": null, "vision_source_page": null, "purposes": "To support the growth, resilience, and sustainability of Australia’s agricultural economy [AR p.7]", "purposes_source_page": 7, "how_we_deliver": "We deliver government policy through low-interest loans to farm businesses and farm-related small businesses [CP p.4]", "how_we_deliver_source_page": 4, "government_priorities": [ { "text": "Supporting the growth, resilience, and sustainability of Australia’s agricultural economy", "source_page": null } ], "outcomes": [ { "name": "Outcome 1: Encourage growth, investment and resilience in Australian farm businesses and rural and regional communities", "description": "By delivering the Commonwealth’s farm business concessional loans", "key_activities": [ "Delivering concessional loans to farm businesses", "Supporting farm businesses through financial disruptions" ], "source_page": 7 } ], "values": [ "Be bold, act with purpose and act as one", "We are down to earth", "We embrace difference" ], "values_framework_name": "RIC Values", "kpi_targets_2025_26": [ { "code": "CCE01", "measure": "Average total days to decision of 50 days", "target": "Average total days to decision of 50 days", "source_page": null }, { "code": "NPS", "measure": "Net Promoter Score", "target": ">20%", "source_page": null } ], "kpi_results_2024_25": [ { "code": "CCE01", "measure": "Average total days to decision", "result": "50 days", "status": "Achieved", "source_page": null }, { "code": "NPS", "measure": "Net Promoter Score", "result": ">20%", "status": "Achieved", "source_page": null } ], "_source_urls": { "annual_report_url": "https://www.ric.gov.au/sites/default/files/documents/RIC_25-70_2024-25_Annual_Report.pdf", "corporate_plan_url": "https://www.ric.gov.au/sites/default/files/documents/RIC%2025-51%20FY2025-26%20Corporate%20Plan.pdf" } }, "ideas": [ { "entity_id": "O-004841", "entity_name": "Regional Investment Corporation", "folder_name": "Regional-Investment-Corporation", "category": "Data & Performance", "scale": "small", "title": "KPI evidence register with named owners", "idea": "Create a simple register mapping each KPI to source data, owner, frequency, target, and last result.", "quote": "[Page 27]\nPerformance measures & targets\nTable 5: 2023-24 performance measures & targets\nPerformance\nKey activities Targets Achieved Result\nmeasures\nWe will deliver our loans in Number and Support provided Achieved $199.9M of loans were approved\naccordance with funding value of loans within appropriation between 1 July 2023 and 30 June\nappropriations approved limits 2024 which was within the $258.9M\navailable and application decision total funding allocation.\ntimelines\nDeliver services Operate within Achieved Year-end $0.7M surplus result within\nefficiently within approved operating the year-end budget deficit of $1.2M.\napproved funding budget\nLoan processing 85% of eligible loans Achieved 198 of 209 eligible loans were\ntimeframe decisioned in 30 RIC- decisioned within 30 RIC-handling\nhandling days for the days, equating to 95%.\nloan facility of $218M", "impact": "High", "effort": "Low", "proof": "Evidence-backed", "beneficiaries": "Executives / Parliament / public", "source": "annual-reports/2023-24.pdf (https://www.ric.gov.au/sites/default/files/documents/RIC_Annual_Report_23-24_CL.pdf)", "implementation": [ "Pick one high-volume process or document family.", "Name an owner and baseline current volume, time, cost, and satisfaction.", "Run a 4-8 week pilot with clear before/after metrics.", "Publish lessons and decide whether to scale." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability" ] }, { "entity_id": "O-004841", "entity_name": "Regional Investment Corporation", "folder_name": "Regional-Investment-Corporation", "category": "Data & Performance", "scale": "large", "title": "Outcome dashboard linking budget, delivery, and public impact", "idea": "Build a public-facing outcome dashboard showing spend, outputs, outcomes, and delivery confidence.", "quote": "[Page 27]\nPerformance measures & targets\nTable 5: 2023-24 performance measures & targets\nPerformance\nKey activities Targets Achieved Result\nmeasures\nWe will deliver our loans in Number and Support provided Achieved $199.9M of loans were approved\naccordance with funding value of loans within appropriation between 1 July 2023 and 30 June\nappropriations approved limits 2024 which was within the $258.9M\navailable and application decision total funding allocation.\ntimelines\nDeliver services Operate within Achieved Year-end $0.7M surplus result within\nefficiently within approved operating the year-end budget deficit of $1.2M.\napproved funding budget\nLoan processing 85% of eligible loans Achieved 198 of 209 eligible loans were\ntimeframe decisioned in 30 RIC- decisioned within 30 RIC-handling\nhandling days for the days, equating to 95%.\nloan facility of $218M", "impact": "Very High", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "Executives / Parliament / public", "source": "annual-reports/2023-24.pdf (https://www.ric.gov.au/sites/default/files/documents/RIC_Annual_Report_23-24_CL.pdf)", "implementation": [ "Create a senior responsible owner and cross-functional delivery team.", "Map legislation, data, privacy, procurement, cyber, and workforce constraints.", "Co-design with users and frontline staff before technology selection.", "Stage delivery through pilots, benefits tracking, and public reporting." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability" ] }, { "entity_id": "O-004841", "entity_name": "Regional Investment Corporation", "folder_name": "Regional-Investment-Corporation", "category": "Risk & Assurance", "scale": "small", "title": "Recommendation tracker for audits, reviews, and inquiries", "idea": "Publish a single internal tracker for audit/review recommendations, owners, due dates, and implementation evidence.", "quote": "[Page 8]\nRegional Investment Corporation 5\nCorporate Plan 2022 - 2023\nKey activities, performance measures & targets\nTable 1: 2022-23 to 2025-26 Key activities, performance measures & targets\nPerformance Targets\nObjectives Key activities\nmeasures 2022-23 & beyond\n32-2202 42-3202 52-4202 62-5202\nOngoing portfolio\nWe will manage the risk and\nmanagement\nassurance in the loan\nframework is Dec\nportfolio, with a focus in\n2022-23 on revising our risk Risk is managed finalised and 22\noperational1\nappetite and framework, within acceptable\n1, 2\nfollowed by ongoing review tolerances\nand alignment of the\n90% of loan\nstatement and framework to\ndecisions are\nemerging risks in future\nconsistent with the\nyears\nrisk appetite1\nWe will implement final Implement loan Loan management\nDec\nstages of the transformation management system implemented N/A N/A N/A\n23\nprogram, involving the system and functional2", "impact": "High", "effort": "Low", "proof": "Evidence-backed", "beneficiaries": "Executives / assurance teams", "source": "corporate-plans/2022-23.pdf (https://www.ric.gov.au/sites/default/files/documents/2022-23-RIC-Corporate-Plan.pdf)", "implementation": [ "Pick one high-volume process or document family.", "Name an owner and baseline current volume, time, cost, and satisfaction.", "Run a 4-8 week pilot with clear before/after metrics.", "Publish lessons and decide whether to scale." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability", "Regulatory capture", "Over-automation of judgement" ] }, { "entity_id": "O-004841", "entity_name": "Regional Investment Corporation", "folder_name": "Regional-Investment-Corporation", "category": "Risk & Assurance", "scale": "large", "title": "Integrated assurance and lessons-learned system", "idea": "Create an assurance system that connects audit findings, risk registers, delivery reviews, and investment decisions.", "quote": "[Page 8]\nRegional Investment Corporation 5\nCorporate Plan 2022 - 2023\nKey activities, performance measures & targets\nTable 1: 2022-23 to 2025-26 Key activities, performance measures & targets\nPerformance Targets\nObjectives Key activities\nmeasures 2022-23 & beyond\n32-2202 42-3202 52-4202 62-5202\nOngoing portfolio\nWe will manage the risk and\nmanagement\nassurance in the loan\nframework is Dec\nportfolio, with a focus in\n2022-23 on revising our risk Risk is managed finalised and 22\noperational1\nappetite and framework, within acceptable\n1, 2\nfollowed by ongoing review tolerances\nand alignment of the\n90% of loan\nstatement and framework to\ndecisions are\nemerging risks in future\nconsistent with the\nyears\nrisk appetite1\nWe will implement final Implement loan Loan management\nDec\nstages of the transformation management system implemented N/A N/A N/A\n23\nprogram, involving the system and functional2", "impact": "Very High", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "Executives / assurance teams", "source": "corporate-plans/2022-23.pdf (https://www.ric.gov.au/sites/default/files/documents/2022-23-RIC-Corporate-Plan.pdf)", "implementation": [ "Create a senior responsible owner and cross-functional delivery team.", "Map legislation, data, privacy, procurement, cyber, and workforce constraints.", "Co-design with users and frontline staff before technology selection.", "Stage delivery through pilots, benefits tracking, and public reporting." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability", "Regulatory capture", "Over-automation of judgement" ] }, { "entity_id": "O-004841", "entity_name": "Regional Investment Corporation", "folder_name": "Regional-Investment-Corporation", "category": "Citizen Services", "scale": "small", "title": "Plain-language service pages and proactive status updates", "idea": "Rewrite high-volume pages and letters into plain language, add status notifications, and measure contact reduction.", "quote": "Results legend\nAchieved: Target met or exceeded during the financial year\nNot achieved: Target not met during the financial year\nTable 1: Customer experience measures\nPerformance measures Target performance result FY2025 results FY2024 results comparison\nMaintain high customer Customer satisfaction rating Achieved Achieved\nsatisfaction above 80% 89% 87%\n85% of eligible loans\ndecisioned in 30 RIC-handling Achieved Achieved\nLoan processing timeframe\ndays for the loan facility of 94% 95%\n$318.5M\nThat the RIC loan has given\ngreater confidence in the Achieved\nCustomer confidence level Achieved\nfuture and profitability of 86% confidence in the future\nabove 80% 89%\ncustomer farm / small 81% confidence in profitability\nbusiness\nIn FY2023, we insourced all loan and customer management services and systems from a third-party provider.", "impact": "High", "effort": "Low", "proof": "Evidence-backed", "beneficiaries": "Citizens / service users", "source": "annual-reports/2024-25.pdf (https://www.ric.gov.au/sites/default/files/documents/RIC_25-70_2024-25_Annual_Report.pdf)", "implementation": [ "Pick one high-volume process or document family.", "Name an owner and baseline current volume, time, cost, and satisfaction.", "Run a 4-8 week pilot with clear before/after metrics.", "Publish lessons and decide whether to scale." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability", "Digital exclusion", "Low public trust if feedback is not acted on" ] }, { "entity_id": "O-004841", "entity_name": "Regional Investment Corporation", "folder_name": "Regional-Investment-Corporation", "category": "Citizen Services", "scale": "large", "title": "Single front door for life-event based services", "idea": "Bundle services around life events so citizens can complete related steps across agencies in one journey.", "quote": "Results legend\nAchieved: Target met or exceeded during the financial year\nNot achieved: Target not met during the financial year\nTable 1: Customer experience measures\nPerformance measures Target performance result FY2025 results FY2024 results comparison\nMaintain high customer Customer satisfaction rating Achieved Achieved\nsatisfaction above 80% 89% 87%\n85% of eligible loans\ndecisioned in 30 RIC-handling Achieved Achieved\nLoan processing timeframe\ndays for the loan facility of 94% 95%\n$318.5M\nThat the RIC loan has given\ngreater confidence in the Achieved\nCustomer confidence level Achieved\nfuture and profitability of 86% confidence in the future\nabove 80% 89%\ncustomer farm / small 81% confidence in profitability\nbusiness\nIn FY2023, we insourced all loan and customer management services and systems from a third-party provider.", "impact": "Very High", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "Citizens / service users", "source": "annual-reports/2024-25.pdf (https://www.ric.gov.au/sites/default/files/documents/RIC_25-70_2024-25_Annual_Report.pdf)", "implementation": [ "Create a senior responsible owner and cross-functional delivery team.", "Map legislation, data, privacy, procurement, cyber, and workforce constraints.", "Co-design with users and frontline staff before technology selection.", "Stage delivery through pilots, benefits tracking, and public reporting." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability", "Digital exclusion", "Low public trust if feedback is not acted on" ] }, { "entity_id": "O-004841", "entity_name": "Regional Investment Corporation", "folder_name": "Regional-Investment-Corporation", "category": "Procurement & Delivery", "scale": "small", "title": "Procurement lessons library for repeat purchases", "idea": "Capture reusable procurement clauses, market lessons, supplier performance notes, and common evaluation criteria.", "quote": "[pages 8,9,10]\na\nl\nn\nin\nf\ng\na c\nd\ni\na\nli\ny\nty\ns\nof\nJ\n2\nu\n3\nn\n$266M4\nWe will increase customer\nIncrease in\nsatisfaction, including by\nImproved customer satisfaction rates Jun\n2, 3, 4 insourcing our services to\nsatisfaction compared with prior 23\nenhance our customer\nyears6\nservice and experience\nWe will deliver new products Responsive and New products\nor product amendments as efficient delivery of delivered on time\n2, 4\ndirected by the Australian new products and and within\nGovernment. enhancements appropriation limits7\nData sources:\n1 Risk appetite statement and risk reporting data\n2 Project management reporting\n3 Human Resources and ERP reporting\n4 Monthly loan data\n5 Portfolio Budget Statements (PBS), Financial Statements and Management Reports\n6 Customer surveys\n7 Project management reporting and PBS", "impact": "High", "effort": "Low", "proof": "Evidence-backed", "beneficiaries": "Delivery teams / suppliers", "source": "corporate-plans/2022-23.pdf (https://www.ric.gov.au/sites/default/files/documents/2022-23-RIC-Corporate-Plan.pdf)", "implementation": [ "Pick one high-volume process or document family.", "Name an owner and baseline current volume, time, cost, and satisfaction.", "Run a 4-8 week pilot with clear before/after metrics.", "Publish lessons and decide whether to scale." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability" ] }, { "entity_id": "O-004841", "entity_name": "Regional Investment Corporation", "folder_name": "Regional-Investment-Corporation", "category": "Procurement & Delivery", "scale": "large", "title": "Portfolio delivery office for major investments", "idea": "Stand up a portfolio delivery office that tracks benefits, risks, dependencies, procurement, and delivery confidence.", "quote": "[pages 8,9,10]\na\nl\nn\nin\nf\ng\na c\nd\ni\na\nli\ny\nty\ns\nof\nJ\n2\nu\n3\nn\n$266M4\nWe will increase customer\nIncrease in\nsatisfaction, including by\nImproved customer satisfaction rates Jun\n2, 3, 4 insourcing our services to\nsatisfaction compared with prior 23\nenhance our customer\nyears6\nservice and experience\nWe will deliver new products Responsive and New products\nor product amendments as efficient delivery of delivered on time\n2, 4\ndirected by the Australian new products and and within\nGovernment. enhancements appropriation limits7\nData sources:\n1 Risk appetite statement and risk reporting data\n2 Project management reporting\n3 Human Resources and ERP reporting\n4 Monthly loan data\n5 Portfolio Budget Statements (PBS), Financial Statements and Management Reports\n6 Customer surveys\n7 Project management reporting and PBS", "impact": "Very High", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "Delivery teams / suppliers", "source": "corporate-plans/2022-23.pdf (https://www.ric.gov.au/sites/default/files/documents/2022-23-RIC-Corporate-Plan.pdf)", "implementation": [ "Create a senior responsible owner and cross-functional delivery team.", "Map legislation, data, privacy, procurement, cyber, and workforce constraints.", "Co-design with users and frontline staff before technology selection.", "Stage delivery through pilots, benefits tracking, and public reporting." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability" ] }, { "entity_id": "O-004841", "entity_name": "Regional Investment Corporation", "folder_name": "Regional-Investment-Corporation", "category": "Regulation & Policy", "scale": "small", "title": "Regulatory burden scan for forms, guidance, and reporting", "idea": "Identify the top 10 highest-friction reporting obligations and simplify guidance, forms, or evidence requirements.", "quote": "[pages 4,5,6]\n[Page 4]\nContents\nTransmittal 1\nIntroduction 2\nOverview 3\nAbout us 3\nOur customers 3\nOur people 8\nPart 1: Annual performance statements 10\nAccountable Authority statement 10\nPerformance results and analysis 11\nPart 2: Management and accountability 14\nGovernance 14\nApproach to risk, fraud and corruption 14\nCompliance with finance laws 15\nHealth, safety and wellbeing 15\nExternal scrutiny 15\nDirectors and Officers indemnities and insurance 16\nLegislative and policy events 16\nAdvertising and market research 16\nPart 3: Financial information 17\nIndependent auditor’s report 17\nStatement of Accountable Authority from the Chair, CEO and CFO 19\nFinancial statements 20\nPart 4: Appendices 36\nAppendix 1: Climate Statement 36\nAppendix 2: Accountable Authority 42\nAppendix 3: Audit and Risk Committee 44\nAppendix 4: Management of human resources 45\nAppendix 5: Executive remuneration 46", "impact": "High", "effort": "Low", "proof": "Evidence-backed", "beneficiaries": "Regulated entities / policy teams", "source": "annual-reports/2024-25.pdf (https://www.ric.gov.au/sites/default/files/documents/RIC_25-70_2024-25_Annual_Report.pdf)", "implementation": [ "Pick one high-volume process or document family.", "Name an owner and baseline current volume, time, cost, and satisfaction.", "Run a 4-8 week pilot with clear before/after metrics.", "Publish lessons and decide whether to scale." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability", "Regulatory capture", "Over-automation of judgement" ] }, { "entity_id": "O-004841", "entity_name": "Regional Investment Corporation", "folder_name": "Regional-Investment-Corporation", "category": "Regulation & Policy", "scale": "large", "title": "Adaptive regulation program with live feedback loops", "idea": "Create an adaptive regulation model using sandboxes, industry data, risk scoring, and regular rule updates.", "quote": "[pages 4,5,6]\n[Page 4]\nContents\nTransmittal 1\nIntroduction 2\nOverview 3\nAbout us 3\nOur customers 3\nOur people 8\nPart 1: Annual performance statements 10\nAccountable Authority statement 10\nPerformance results and analysis 11\nPart 2: Management and accountability 14\nGovernance 14\nApproach to risk, fraud and corruption 14\nCompliance with finance laws 15\nHealth, safety and wellbeing 15\nExternal scrutiny 15\nDirectors and Officers indemnities and insurance 16\nLegislative and policy events 16\nAdvertising and market research 16\nPart 3: Financial information 17\nIndependent auditor’s report 17\nStatement of Accountable Authority from the Chair, CEO and CFO 19\nFinancial statements 20\nPart 4: Appendices 36\nAppendix 1: Climate Statement 36\nAppendix 2: Accountable Authority 42\nAppendix 3: Audit and Risk Committee 44\nAppendix 4: Management of human resources 45\nAppendix 5: Executive remuneration 46", "impact": "Very High", "effort": "High", "proof": "Evidence-backed", "beneficiaries": "Regulated entities / policy teams", "source": "annual-reports/2024-25.pdf (https://www.ric.gov.au/sites/default/files/documents/RIC_25-70_2024-25_Annual_Report.pdf)", "implementation": [ "Create a senior responsible owner and cross-functional delivery team.", "Map legislation, data, privacy, procurement, cyber, and workforce constraints.", "Co-design with users and frontline staff before technology selection.", "Stage delivery through pilots, benefits tracking, and public reporting." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability", "Regulatory capture", "Over-automation of judgement" ] }, { "entity_id": "O-004841", "entity_name": "Regional Investment Corporation", "folder_name": "Regional-Investment-Corporation", "category": "Case Processing", "scale": "small", "title": "Triage queue for stuck or ageing cases", "idea": "Use existing case data to flag ageing, duplicate, incomplete, or high-risk cases for earlier intervention.", "quote": "Loan processing 80% of farm Fully achieved 98% of 2021-22 submitted\ntimeframes business loans are applications processed\nprocessed within within 65 RIC-handling\n65 RIC-handling days.\ndays (*excludes\nPlantation Loans)\nCredit risk is Implement the Partially achieved Review of the RIC’s loan\nmanaged within financial risk portfolio risk management\nacceptable management completed.", "impact": "High", "effort": "Low", "proof": "Evidence-backed", "beneficiaries": "Applicants / case officers", "source": "annual-reports/2021-22.pdf (https://www.ric.gov.au/sites/default/files/documents/20220926%20Annual%20Report%202022%2001.pdf)", "implementation": [ "Pick one high-volume process or document family.", "Name an owner and baseline current volume, time, cost, and satisfaction.", "Run a 4-8 week pilot with clear before/after metrics.", "Publish lessons and decide whether to scale." ], "risks": [ "Privacy and data quality", "Change fatigue", "Unclear accountability" ] }, { "entity_id": "O-004841", "entity_name": "Regional Investment Corporation", "folder_name": "Regional-Investment-Corporation", "category": "Case Processing", "scale": "large", "title": "End-to-end case processing redesign", "idea": "Redesign the case pathway around risk-based triage, reusable evidence, and automated eligibility checks.", "quote": "Loan processing 80% of farm Fully achieved 98% of 2021-22 submitted\ntimeframes business loans are applications processed\nprocessed within 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