Risk management framework graphic - long description
A graphic showing our risk management framework.
Managing risk involves:
Building blocks
- positive risk management behaviours and culture
- roles and responsibilities
- communicating risk information
- organisation risk appetite
- risk capability
Routine processes
- identifying risks and their owners
- assessing risks
- addressing risks
- reviewing and monitoring risks
- reporting on risks
Periodic activities
- assuring the Board that risk is being properly managed
- scanning the horizon
- building risk maturity
- learning lessons
- audit
Risk process
A pie chart showing the risk process:
- Internal risks- Risk reporting
- External risks- Risk identification and assessment
- Strategic risk- Risk treatment
- Risk monitoring- Centrally reported projects
Governance of risk
HRA Board
- strategic risk register
Audit and risk committee
- strategic risk register
- corporate risk register
- external risks
- risk audit reports
Executive committee
- reviews all risks 12+
- agrees risk for corporate risk register (15+)
- strategic risk register
- agrees risk appetite
Directorate meetings
- internal risks
- centrally reported projects