What is Risk Management at the Board and Trustee Level?

Hand switching on risk management

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Risk management is any activity undertaken to identify and control the level of risk and should be central to the Boards and Trustees strategic management plan.

The impact and likelihood of risk is an everyday part of an organisations activity and managing risk is essential if the organisation is to achieve its key objectives and safeguard the future.

Boards and Trustees should set a risk framework that allows the organisation to:

  • identify the risks (threats and opportunities)
  • make decisions about how to mitigate and control the risks
  • decide if a contingency plan is appropriate; and
  • monitor, review and implement actions to support the management of risk

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