Risk Lecture Nov 2012

7/30/2019 Risk Lecture Nov 2012

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Risk Management @London Met

Sean Connolly

Director of the Programme Office

13 November 2012


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Background

A risk management system that didnt work

Problem identified as to how we claimed for students butnothing done

34m incorrectly claimed to repay

Change in VC, Governors and senior staff

SPO given responsibility for Risk Management April 2010


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Starting pointBuy-in and support of Governors, senior management,

Internal Audit and our Regulator, (HEFCE)

Simple MS Word based system, easy to understand,

easy to use

Developed policy and strategy, and eventuallystatement of risk appetite, all available on Intranet

https://intranet.londonmet.ac.uk/staff/spo/risk-

management.cfm
https://intranet.londonmet.ac.uk/staff/spo/risk-management.cfmhttps://intranet.londonmet.ac.uk/staff/spo/risk-management.cfmhttps://intranet.londonmet.ac.uk/staff/spo/risk-management.cfmhttps://intranet.londonmet.ac.uk/staff/spo/risk-management.cfmhttps://intranet.londonmet.ac.uk/staff/spo/risk-management.cfm


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Policy main points

Underlying approach to risk management

Role of the Board of Governors

Role of the Audit Committee

Role of the Executive Group

Risk management and internal control

Reviewing effectiveness


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Strategy main points

Identification of risks who?

Dean, Director or other senior manager

Evaluation of risks how?

25 point scoring scale 1-5 x 1-5

Documentation of risks where?

Held by faculty, PSD and SPO

Managing and reporting risks

To Executive Group, Internal Audit, Audit

Committee and full Board of Governors by SPO


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Statement of Risk Appetite

principles

Challenging and uncertain future

Risk-taking is essential at times

Risks associated with major projects, need to be clearly

identified

Any activities with residual risk greater than 20 shouldimmediately be referred to the Chair of Governors and VC

Governors have grouped the major risks facing the

University into five main headings


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Five headings are:1. Risks to financial sustainability.

2. Risks associated with the student experience

including recruitment, retention and academicprogression.

3. Reputational risks, including relationship

management with our key partners.

4. Risks associated with our academic standards,including in teaching and research.

5. Risks associated with the Universitys support

systems and processes, in particular the

management and quality assurance of data and other

information


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Corporate Risk Register

Examples of faculty and PSD risk registers LGIR Risk Register

FoLs Risk register

FoC Risk register

Estates Risk Register


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So how does it work?

Corporate system works to a point Further mitigations column needs to

be SMARTer

Problems with consistency of scoringat faculty and PSD level

System for following up actions

needs to be improved


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What next

Working to improve consistency withrisk management working group

Developing risk management key

performance indicators Continually checking with Internal

Audit and HEFCE


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Your questions and comments

Sean Connolly

[email protected]


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Risk register1. Corporate

2. Estates3. Faculty of Computing


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Risk register: Corporate1. Failure to achieve financial sustainability

2. Failure to deliver required return

Partnerships, joint ventures, Shared Services Initiative

3. Failure to manage student populationHome, international, PG, CPD

4. Failure to deliver high quality

student experience

5. Failure to sustain culture of high

expectations and high performance

6. Failure in timely delivery of strategic plan


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7. Failure in relationship with stakeholders

8. Loss of confidence in academic standing

of the University9. Failure to provide accurate returns

10. Failure to deliver information

infrastructure transformation11. Risk of staff or student action in

opposition to changes

Risk register: Corporate

Back to mainrisk register


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Risk register: Corporate 1


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Risk register: Corporate 5 & 6


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1. FinancialFailure to meet targets revenue, capital expenditure, value

2. Capital ProjectsFailure to deliver projects meeting

specifications on time and budget

3. Failure of major contractors

4. Potential litigation from MITIE5. Failure to maintain and improve the estate

6. Service delivery

Failure to deliver good quality service

Risk register: Estates


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Risk register: Estates

7. Failure to deliverBuilding Management operations and/or

Departmental Business Continuity plan

8. IT systemsRisk of failure CMIS, EMIS and Helpdesk systems

9. Legal and statutory compliance, inc. H&S

10.Carbon reductionFailure to achieve targets

11.Risk of organisational failure

12.Failure to deliver theEstates Master Plan Back to mainrisk register


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Risk register: Estates 1


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Risk register: Estates 4 & 5


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Risk register: Estates 10, 11, 12


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Risk register: Computing Under-recruitment and significantly

reduced fee income

Failure to secure KT and 3rd stream projects

Loss of a major collaborative partner

Failure to improve completion rates

Failure to improve student satisfaction


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Failure to maintain and extend professional

accreditation of courses

Failure to achieve new CISCO Academy status

Reduction in Quality Research funding

Major lab or equipment failures and

lack of replacement facilities

Back to main

risk register

Risk register: Computing


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Dealing with Risk

Risk Lecture Nov 2012

Documents

Transcript of Risk Lecture Nov 2012