![]() ![]() defines the level of risk UTS is prepared to accept in pursuit of its objectives, function and strategy, and.A summary of the top emerging and external risks informs the development of the corporate plan, the UTS 2027 strategy and its supporting assumptions. UTS strategy: Risk inputsĤ.4 The Director, Risk is responsible for analysing the wide range of internal and external (global, national, sectoral and local) risks that could affect UTS. A commitment to risk management will form part of the annual performance and review process for key management positions. is designed to provide reasonable assurance on the achievement of strategic objectives.Ĥ.3 All UTS business processes and functions must adopt this risk management approach in line with the framework and the procedures.allows for the appropriate treatment and consistent management of risk (refer the procedures) within a defined risk appetite, and.allows for the appropriate allocation of resources and responsibilities to manage risk.enables the consistent identification and assessment of risks.identifies the potential opportunity impacts within projects to provide a balanced view for decision-making purposes.identifies potential risk impacts that could affect UTS.operational, financial, strategic and planning activities, andįigure 4.1: Risk management framework and process.research, change initiatives and projects.It embeds risk management principles into the university’s business activities, including: #RISK MANAGEMENT POLICY ISO#Policy statements Risk management frameworkĤ.1 UTS’s risk management framework (the framework) is consistent with the International Standard ( ISO 31000:2018, Risk management - Guidelines). All staff should familiarise themselves with the risks associated with their roles and responsibilities. The degree and nature of this responsibility is guided by the procedures.
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