The Regulatory Intelligence Strategy supports ONRSR in improving its regulatory efficiency and effectiveness by targeting its finite resources to address the greatest risks to rail safety.
Regulatory intelligence is the application of applied analytics to data and information to gain knowledge and insights to guide regulatory practice.
The purpose of this Strategy is to enable ONRSR to better use regulatory intelligence from data, information, field knowledge, and applied analytics to:
> inform regulatory decisions, compliance and enforcement activity
> provide information and insights to the rail industry, particularly so industry can benefit from a national perspective, including through ONRSR’s engagement and education program
> anticipate and respond to current and emerging safety risks and challenges, leading to a more proactive regulatory approach
> monitor and report on ONRSR’s performance and industry’s rail safety performance
This Strategy outlines ONRSR’s approach to continuing to develop and apply regulatory intelligence. ONRSR intends to harness our data and information assets, apply analytics capabilities, empower our people to put data, information and insights into action, enabling a risk-informed intelligence-led regulatory approach.