Policy on Risk Assessment  Thrive 2005.

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The information contained in this Pack is correct to the best of Thrive’s knowledge, however it is intended only as a guide and projects should consult their own legal representatives for further advice.

[NAME OF FILE] 1 of 2 [REVIEW DATE]  Thrive 2005. For full copyright details and implications see the contents page of this Risk assessment policy. These templates are provided as samples only and Projects should consult their legal representatives for further advice. [NAME OF ORGANISATION]

Policy on and Process for

RISK ASSESSMENT

Background

Although it is a requirement for all Trustees to consider risks associated with running the charity on an annual basis, [NAME OF ORGANISATION] considers the importance of such a review requires this to be an integrated part of the regular management process with half-yearly (January and July) reports to the Board.

Process

Each area is responsible for assessing all risks associated with their operations. A scorecard will be completed for each risk. This will set out the nature of the risk and impact on the organisation.

They will then record those mitigations that are already in place and will, as a measure of this mitigated risk, provide a risk rating (out of 16). Consideration will then be given to any further mitigating actions that would reduce further the risk. These are recorded on the scorecard together with the revised (reduced) rating.

It is the responsibility of the Manager to ensure that these risks are monitored on a regular basis and all are reviewed and updated periodically and that the mitigations are fully implemented. Any new area of work should not be approved until such an assessment has been conducted and approved by Senior Management.

The Senior Management Team (SMT) will review with the appropriate manager all the risk assessments for one area each month, paying particular attention to any mitigation actions that have been identified but not yet implemented. They will also assess whether any changes warrant revising the risks for the area.

The SMT will also identify and review any additional risks that are more organisational wide in focus and these will be included in the risk assessment process.

In preparation for the Annual Report and Accounts, the SMT will submit a revised list each year to Trustees identifying the top ten to twenty risks together with likelihood, mitigating actions in place and those identified for implementation.

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