Synergy is a government owned corporation and is Western Australia’s largest energy retailer and generator. MYR has worked with Synergy since 2015 in the capacity of outsourced risk and internal control manager and recently secured a new three year contract to continue in this role.
We acted as Synergy's outsourced risk manager for a 6 year period ending in 2021. While the initial focus of our work with Synergy was on revamping their risk management program through new framework documentation and structure, and the identification and analysis of material strategic, corporate, operational and resilience risks, the program expanded to establishing a new internal control model to support their emerging agile and adaptive approach to operating. Dissecting, defining and improving the core activities and critical controls of complex business units was a major initiative. This assisted the organisation to become more efficient and effective in managing its day-to-day activities. Based on this work, we developed operating standards for many of its business units. We also revamped the crisis management and business continuity program, facilitating plan testing and drills.