Implementing Enterprise Risk Management: Case Studies and Best Practices

CHAPTER 10 Developing Accountability in Risk Management The British Columbia Lottery Corporation Case Study

JACQUETTA C. M. GOY

Director of Risk Management Services, Thompson Rivers University, Canada and Former Senior Manager, Risk Advisory Services, British Columbia Lottery Corporation

This case study describes how enterprise risk management (ERM) has developed over the past 10 years at British Columbia Lottery Corporation (BCLC), a Canadian crown corporation offering lottery, casino, and online gambling. BCLC's enterprise risk management program has been developed over time through a combination of internal experiential learning and the application of specialist advice. The program's success has been due to the dedication of a number of key individuals, the support of senior leadership, and the participation of BCLC employees.

The approach to ERM has evolved from informal conversations supported by an external assessment, through a period of high-level corporate focus supported by a dedicated group of champions using voting technology, to an embedded approach, where risk assessment is incorporated into both operational practice and planning for the future using a variety of approaches depending on the context.

BACKGROUND

BCLC is a crown corporation operating in British Columbia (BC), Canada. The corporation was established by act of the British Columbia legislature in 1985. As a commercial crown corporation, BCLC is wholly owned by the province but operates at arm's length ...