Risk & Opportunity
Strategic Planning Framework: Risk Management
Risk management is the cornerstone of our strategic planning framework. It gives us the approach and the confidence to take the big decisions we need to take to achieve our ambition.
Risk is part of the world we live in, there are risks in every change we make, there are also risks in not seizing opportunities when they arise. Right now the operating environment is very uncertain with global inflation and the cost of living crisis presenting significant challenges to the association, our customers and our communities. Despite these challenges our ambition remains the same, and we use our risk management approach to ensure we steer a path to success in these challenging times.
We need to take risks to achieve our strategic priorities, if we manage our risks effectively then we will take the risks we need to take. If we do not identify and manage the risks in our operating environment then it increases the chances that our decision-making and progress will slow.
The association has in place a risk management framework that sets out how we manage risk. To support us in this we have in place our risk and assurance user manual to guide us through.
The association records the risks we face in our risk register. We identify and assess these risks and regularly review the controls and actions we have in place to manage these risks. Our major risks or areas of key concern are the focus or Board, ARC and Leadership Team while our directorate teams ensure that all risks are effectively managed.