RISK MANAGEMENT POLICY

Transcription

1 RISK MANAGEMENT POLICY Drafted by Denis McEvoy Approved by Board on November 2014 Responsible person Station Manager Scheduled review date May 2015 Version Version 1 CONTENTS 1 STATEMENT OF PURPOSE DEFINITIONS RISK TOLERANCE RISK MANAGEMENT RISK IDENTIFICATION & ASSESSMENT RISK MONITORING & CONTROL RISK RESPONSE RISK AVOIDANCE RISK RETENTION RESPONSIBILITIES PROCEDURE IMPLEMENTATION AND REVIEW RISK MANAGEMENT CHECKLIST Community Broadcasting Co-operative Society Ltd. Reg no. 4611R

2 1 STATEMENT OF PURPOSE 92.5 Phoenix FM, hereafter referred to as the Station, will endeavour to minimise the risk any particular operation poses to our organisation, our staff, our volunteers, our clients, or the general public. Risks are inherent in all projects. They can be transferred, accepted, managed, minimised or shared, but must not be ignored. There is no shortage of publications about risk, nor is there any shortage of software for risk analysis and risk assessment. Risk management needs a structured approach for identifying, assessing, managing, tracking, reporting, and allocating risk across a business at corporate, operational and project levels it is a tool, not a solution. The technique used with common sense linked to knowledge, expertise, and information, should enable the delivery of services with greater certainty. Risk management is not a process for avoiding risk; when used effectively it can allow an organisation to take on activities that have a higher level of risk, and therefore could deliver greater benefit, because the risks have been identified, understood, and managed; the residual risk is thereby lower. Risk management is not just negative (ensuring that bad things are less likely to happen), but also positive (making it more likely that good things will happen); the basis of business is to balance. Once a risk is identified and defined, it ceases to be a risk; instead it becomes a management problem. Decisions about risk need to be balanced so that the potential benefits are worth more to the organisation than it costs to address the risk. The purpose of this document is to identify applicable risks and to enable risk management procedures to be satisfactorily identified, organised and maintained. 2 DEFINITIONS Risk is the probability that an occasion will arise that presents a danger to our organisation, our staff, our volunteers, our clients, or the general public. It includes, but is not limited to, Physical hazards Financial hazards Reputational hazards Legal hazards 2 Community Broadcasting Co-operative Society Ltd. Reg no. 4611R

3 3 RISK TOLERANCE The amount of risk the Station is prepared to tolerate, or risk appetite will vary according to the risks, the timing, the risk attitude, the potential reward. The Station may be prepared to take comparatively large risks in some areas and none in others. Each project the Station undertakes will have a risk tolerance, for example if the contingency allowance for a project has been spent and the project is only half complete, then the tolerance level will be low. 4 RISK MANAGEMENT The aim of risk management is to ensure that risks are identified at project inception, their potential impacts allowed for and where possible, the risks or their impacts minimised. Risk management is a planned and systematic process consisting of: Identification to determine what the risks are Assessment: to determine the likelihood of the risks occurring and their potential impacts, and Monitoring and control: to identify options for dealing with risks or their impacts and monitor implementation of the preferred options. 5 RISK IDENTIFICATION & ASSESSMENT Successful risk management depends on accurate risk identification. The purpose of risk assessment is to understand and quantify the likelihood of occurrence and the potential impacts on the Station. Various analytical techniques are available, but the key features are: Qualitative assessment to describe and understand each risk and gain an early indication of the more significant risks, and Quantitative assessment to quantify the probability of each risk occurring and its potential impact in terms of cost, time and performance. 6 RISK MONITORING & CONTROL Care will be taken when considering the management actions available to ensure that the potential impact of each risk is not outweighed by the direct costs to the Station from: The cost of reducing the risk The cost of transferring the risk (or the cost of insurance), and 3 Community Broadcasting Co-operative Society Ltd. Reg no. 4611R

4 All management and administrative time, consultants fees and other charges associated with managing and dealing with the risk. 7 RISK RESPONSE A risk response will only be decided after its possible causes and effects have been considered and fully understood. It will take the form of one or more of the following management actions: avoidance; reduction (including elimination); transfer; or retention (including sharing). Risks will be allocated to those best placed to manage them. 8 RISK AVOIDANCE Where risks have such serious consequences on the project outcome that make them totally unacceptable in the context of the Station s objectives, risk avoidance measures might include a review of the project objectives and a re-appraisal of the project, perhaps leading to the replacement of the project, or its cancellation. 9 RISK RETENTION Risks that are not transferred or avoided are retained by the Station although they may have been reduced or shared. These risks must continue to be managed by the Station to minimise their potential impact. 10 RESPONSIBILITIES 92.5 Phoenix FM has a duty to provide a safe workplace for its staff and volunteers, a safe environment for its clients, and a reliable development path for the organisation Phoenix FM will put procedures in place that will as far as possible ensure that risks are minimised and their consequences averted. It is the responsibility of the Board, with the assistance of the Station Manager, to carry out risk management analyses of the organisation, and to take appropriate measures. It is the responsibility of the Station Manager to ensure that: a Risk Management Officer for the organisation is nominated; 4 Community Broadcasting Co-operative Society Ltd. Reg no. 4611R

5 effective risk management procedures are in place, applicable to all relevant areas; risk management procedures are reviewed regularly; recommendations arising out of the risk management process are evaluated and, if necessary, implemented; and employees and volunteers are aware of all applicable risks and familiar with the organisation s risk management procedures. It is the responsibility of the Risk Management Officer to ensure that: risk management analyses are carried out for all relevant sectors of the organisation s work; risk management checklists are prepared; risk management checklists are reviewed regularly by relevant staff with the assistance of the Risk Management Officer to ensure that no risks have been overlooked; risk management checklists are reviewed at least once a year to ensure that procedures are in place to avert the risk or, if that is not possible, to mitigate its impact; and copies of up-to-date risk management checklists are kept in a central Risk Management Register. It is the responsibility of all employees and volunteers to ensure that: they are familiar with the organisation s risk management procedures; they observe those risk management procedures; and they inform their supervisor if they become aware of any risk not covered by existing procedures. 11 PROCEDURE The Risk Management Officer shall carry out risk assessment exercises; this should involve: identifying the risks attached to every element of the operation and the likelihood of that risk eventuating; identifying practices to avert those risks; identifying practices to mitigate the effects of those risks; and recording those risks, those precautions and those remedies in the form of deliverable checklists. The Risk Management Officer shall ensure consistency of approach by ensuring that: each employee, Board member and volunteer of the organisation has available to them all relevant risk management checklists; risk management checklists are reviewed by the organisation at least once a year to ensure that no risks have been overlooked; a current copy of each risk management checklist is held centrally in the 5 Community Broadcasting Co-operative Society Ltd. Reg no. 4611R

6 organisation s Risk Management Register. 12 IMPLEMENTATION AND REVIEW 12.1 Phoenix FM will ensure that this Policy and appropriate procedures are implemented, disseminated and kept under review The Board of Management or its delegated authority will review this Policy and related Procedures on a three-yearly basis from the time of full implementation 1, or when required by changes in law. The Board or its delegated authority must satisfy itself that this Policy and the Procedures are fit for purpose. 1 Full implementation occurs after a policy has been trialled over an initial six month period. A full review is carried out by the Board before the policy is fully implemented. 6 Community Broadcasting Co-operative Society Ltd. Reg no. 4611R

7 13 RISK MANAGEMENT CHECKLIST Step 1: Risk Identification List of Possible Risks Step 2: Risk Assessment Likelihood H/M/L Impact H/M/L Step 3: Risk Management What are we already doing about it? (mitigating factors) Breaching BAI contract L H Monitoring compliance to the contract and codes through regular staff meetings, review meetings and quarterly volunteer meetings. The subject is also discussed each month at the Programming, Training & Outreach Subcommittee as a standing item. Possible breaches are forwarded to the Board. What more can we do about it? Further increase awareness of the BAI contract and codes amongst all Station stakeholders to ensure everyone complies both individually and as a whole. Timescale Review monthly Person Resp. DM, IOC Reviewed Level of Risk Fire or flood in offices/studios L H Ensuring that all staff and volunteers are aware of potential risk. Liaising with building management to ensure that potential risks are identified and managed. Continue to liaise with building management. Ensure that we are properly insured. Review risk quarterly, review insurance annually DM, EM Lose Office/Studio space M H Ensuring that a good relationship is maintained with Green Continue to develop the relationship with the Review DM, RD 7 Connell (Community Representative), Colman Duggan, Paul Hosford (Volunteer Representative), Jeff Murphy, Daniel Pitcher. Community Broadcasting Co-operative Society Ltd. Reg no. 4611R

8 Properties. Christmas adverts are provided to the centre free of charge each year as is promotion of events. property management company and increase public acknowledgement of the help the company provides to the Station. quarterly IT infrastructure is compromised. , social media platforms are hacked L M Circulate Social Media Policy to all staff and volunteers. Ensure they have a disclaimer on any account they use for Station activities. Ensure that regular Review risk monitoring becomes the quarterly norm and is not dropped off the agenda. DM, AM Regularly monitor social media sites for damaging comments about the Station Ensure IT infrastructure is secure. Conduct regular security audits. Funding (Pobal, Sound & Vision, Community Foundation, ITB Training, etc.) are cancelled/withdrawn M H Ensure all reports are provided in a timely manner. Maintain good relationships with all our statutory funders Aim to broaden the sources of income, ensuring that there is a diversity of income streams Review risk quarterly DM, EM, SD, RD 8 Connell (Community Representative), Colman Duggan, Paul Hosford (Volunteer Representative), Jeff Murphy, Daniel Pitcher. Community Broadcasting Co-operative Society Ltd. Reg no. 4611R

9 Fail to complete a project for which funding has been received L M A project manager is assigned to Stringent risk lead each project and coordinate assessment of each the work of other staff members who are working on the project. project before entering into a contract. The project manager provides status updates to the Station Manager and monthly updates to the relevant Subcommittee through their reports. Review risk at DM, IOC, the beginning, FH, EM, mid-point and RD scheduled end of each project. The Station is sued for defamation L H Train volunteer programme makers in how to identify and avoid possible defamatory material. Monitor Station output. Make defamation training a mandatory part of the Station s Induction training for volunteers. Review risk annually DM, IOC A staff member brings a wrongful/constructive dismissal claim L M A full suite of HR policies are in place and training has been provided to each staff member on their contents and implications. Each policy is reviewed regularly and as needed. Job descriptions, contracts, work plans and timekeeping records are also in place for all staff members. Continue to review the documentation already in place to ensure it is effective. Send relevant staff members on HR training sessions and refreshers courses as necessary. Keep up-todate with publish material in this area. Review risk quarterly DM, EM, RD 9 Connell (Community Representative), Colman Duggan, Paul Hosford (Volunteer Representative), Jeff Murphy, Daniel Pitcher. Community Broadcasting Co-operative Society Ltd. Reg no. 4611R

10 A staff member, Board member, volunteer or third party injures themselves on Station property or in the course of Station work L M A Health & Safety policy has been adopted which includes a H&S Statement. Potential hazards in all Station premises have been identified and training has been provided to staff on awareness and avoidance of hazardous work practices. Ensure that all staff members and other Station stakeholders have bought into the idea of a safe working environment and are responsible for its maintenance. Review risk annually DM, EM AIB/IMRO/PPI bring legal action against Station to reclaim money owed L H Communication is maintained with all bodies and in the case of AIB & PPI the Station has entered into a sustainable payment plan. Continue to pay off the Review risk AIB loan and PPI fees quarterly and communicate with IMRO through the national CR body, Craol to achieve a reduction in the disputed level of the outstanding licence fees. DM, EM, SD Date Drafted Date to be Reviewed Person/Group Responsible for Review Board & Station Manager 10 Connell (Community Representative), Colman Duggan, Paul Hosford (Volunteer Representative), Jeff Murphy, Daniel Pitcher. Community Broadcasting Co-operative Society Ltd. Reg no. 4611R