![]() Assurance: The Board and management have reasonable assurance that risk is being appropriately managed within defined levels to bring value to the organization.Īpplicable key definitions have been included below.Individuals who are responsible for the completion of goals and objectives are therefore equally responsible for identifying, evaluating, mitigating and reporting associated risk exposures. Ownership and Responsibility: The ownership of risk is inextricably linked with the ownership of goals and objectives. ![]() ![]() Oversight: All significant, current and emerging risks have been identified and are being managed and monitored under a holistic approach consistent with the university’s risk management process.Roles and Responsibilities: To identify the key roles of the Board and senior management associated with managing the university’s risk exposure.Implementing an effective URM process achieves the following key objectives: The purpose of University Risk Management (URM) is to ensure that the portfolio of risks that could influence the achievement of both the university’s strategic and key operational objectives is being consistently and effectively managed. ![]()
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