Template-for-a-risk-management-procedure

5. Roles and responsibilities What we all should do  What are the responsibilities of everyone in the organisation when it comes to managing risk?  What are the legal obligations of people in various roles in the organisation?  What does the code of conduct say about how we should manage risk? Specific roles Describe the responsibilities for each of these roles  Responsible body  Risk and Audit Committee  Risk management sub-committee  Internal audit team  External audit consultants  Chief executive officer  Members of the executive team and senior management  Risk manager  Non-managerial members of staff 6. Governance What model of governance will you put in place to ensure that significant decisions are approved in the appropriate forums and that decisions are captured and made available to decision makers?  What types of decisions need to be considered in by a specialist group before being implemented in the organisation? For example, clinical risks, environmental risks, state-significant risks, shared risks?  What decisions do they have the authority to make and are accountable for?  Who are these specialist decision-making groups themselves accountable to?  How will they monitor key risk and performance indicators? Use a diagram to show:  the specialist decision-making groups you need in your organisation  relations between decision making groups; for example, when a clinical risk needs to be communicated or escalated to the responsible body  the flow of information: requests for decision, communications of decisions, reporting. 7. Embedding risk managing in all decision making  Use the diagram below to show the overall structure of risk management  Unpack the three-step process of risk assessment: identify, analyse and evaluate  Unpack what decision makers in organisation should do with the results of that risk assessment o Assign risk owners o Design controls and assign control owners o Record the assessment in the organisation’s risk register o Monitor the effectiveness of controls  Unpack the escalation procedure if a risk becomes more likely or the potential consequences more severe  Link to tools that decision makers can use to identify, analyse and evaluate risk Risk management procedure 2