RSCDS Edinburgh defines risk as the threat or possibility that an action or event will adversely or otherwise affect the Branch’s ability to achieve its objectives.
Risk can manifest itself in many ways, for example:
RISK | EXAMPLES |
financial risk: | financial losses in any part of the branch |
reputational risk: | the loss of reputation in the community |
organisational risk: | the loss of a key volunteer |
This policy explains the underlying approach to risk management, identifies high level roles and the main procedures
Risk is managed through the operation of controls, checks and balances and the effective implementation of procedures. Controls do not eliminate risk and RSCDS Edinburgh must recognise the extent to which it will accept residual risk and how overall risk is to be actively managed. The following key principles underpin the Branch’s approach to risk management and internal control:
The Trustees have a fundamental role to play in the management of risk. Our approach to risk is:
The following is the process for identifying and managing risk: