2586 - Improved Risk Analytics Methodology

Description of Goods and/or Services: 
TSSA’s risk informed decision-making framework (RIDM) guides many of the regulatory work that TSSA carries out across its regulated industries and technologies. It was developed in 2007, and while improvements have been made to it over time, it has not gone through an extensive peer review process.
 
TSSA’s shift to a modern, outcome-based regulator relies on TSSA being able to accurately and rigorously identify, asses and predict risk. As we move towards relying on TSSA’s risk analytics more and more, it is imperative that we have a pressure-tested, validated and sound risk model. The recent value-for-money audit conducted by the Auditor General also recommended that “TSSA establish a clear decision-making framework” for when and how it conducts its regulatory business.
 
TSSA is looking for a vendor to support the process of identifying improvements to its risk-informed decision-making methodology.
 
Background and Current State
The current RIDM framework was developed in 2007 and has been used across different program areas, for example to determine a schedule for inspections or to identify candidates for contractor audits. It has also been used to report to TSSA stakeholders, and the public, on the state of risk and safety in Ontario, as mandated by the Act and MOU. Elements of RIDM has received a patent in 2013 in both the US as well as Canada.
 
TSSA’s shift to becoming a modern outcome-based regulator will have the following outcomes: 
 

1. Create and maintain an evidence framework based on data analytics, using innovative and collaborative tools, to identify risks/harm.
2. Make decisions that are transparent and that demonstrate that TSSA has made the right safety decision and allowing the regulated to know what is expected of them.
3. Focus on high risk activities and allocate resources to areas that pose the greatest threat to public safety. This will require meaningful application of the rules targeted to non-compliances that pose the greatest risk.
4. Partner, educate and assist the regulated to achieve compliance and safety outcomes.
5. Reward those that are willing to comply and improve safety.

1. Review and finalize documentation related to TSSA’s RIDM
2. Outline steps from problem identification, gathering of data, analysing of data, to decision recommendation and implementation. Each step should be described;

• Problem identification – scale/scope, understanding of risk exposure, relation to current regulation
• Gathering of data – types of internal data, extent of external data (within current jurisdiction), extent of extra-jurisdictional data
• Analysing of data – appropriateness of current tools, uptake in tools, overview of methods including acceptability thresholds
• Decision recommendation – correspondence between analysis to appropriate regulatory oversight, clarity/specificity in recommendations
• Decision implementation – effectiveness/awareness of recommendations to TSSA decision-makers, clarity employed recommendations are dismissed

3. Identify and propose improvements to RIDM framework. Improvements come in a variety of forms, e.g.:

• Increased alignment with UL2984/ISO 31000/best practices
• Closure of gaps
• Increased efficacy of framework
• Novel improvements based on available data
• Identification of potential new / external sources of data
• Other

1. Review and documentation of current process, methodology and framework
2. Report with recommendations on improvements with analysis of implications for TSSA 
3. Presentation of findings and recommendations to TSSA representatives (at least 1-2 presentations)