Most charities and schools have a risk management process which follows legal and regulatory guidance. This means there are processes to identify, assess, manage and control risks with a reporting process. While this could be considered to be an effective risk management process it must be capable of identifying the major risks that can break the organisation and focussing those charged with governance on the right risks. Risk management must truly be embedded in the organisation and not reviewed once a year when reporting in the trustees’ or governors’ annual report.
The Pandemic has focussed all organisations on risk management. It has highlighted strengths and weaknesses and all charities and schools should be reviewing the effectiveness of their own risk management processes. They should be reviewing how risks are classified, identified, and analysed. How well the controls being relied upon are preventing the risk occurring or limiting its impact both operationally and financially, and considering how well risks are being reported throughout the organisation.
- Reviewing risk registers and reporting
- Reviewing controls to ensure they are operating as required
- Facilitating risk workshops with trustees and senior leadership teams
Do get in touch if you would like to learn how I can help you to improve your risk management.