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Effective Governing Body's play a key role in setting and managing risk appetite and tolerance.
They are able to ensure that risks are aligned with strategic priorities and improvement plans and intervention strategies provide a robust framework for risk management. These competencies enable those on the Governing Body to identify, evaluate and prioritise organisational risks and ensure appropriate action is taken to mitigate against them.
Everyone on the Governing Body
Everyone on the Governing Body
Knowledge:
the principles of risk management and how these apply to education and the organisation
the process for risk management in the organisation and especially how and when risks are escalated through the organisation for action
the risks or issues that can arise from conflicts of interest or a breach of confidentiality
Skills & Effective Behaviours:
is able to identify and prioritise the organisational and key risks, their impact and appropriate countermeasures, contingencies and risk owners
ensures risk management and internal control systems are robust enough to enable the organisation to deliver its strategy in the short- and long-term
advises on how risks should be managed or mitigated to reduce the likelihood or impact of the risk and on how to achieve the right balance of risk
ensures the risk management and internal control systems are monitored and reviewed and appropriate actions are taken • actively avoids conflicts of interest or otherwise declares and manages them
The Chair
The Chair
Skills & Effective Behaviours:
leads the board and challenges leaders appropriately in setting risk appetite and tolerance
ensures that the board has sight of, and understands, organisational risks and undertakes scrutiny of risk management plans
leads by example to avoid, declare and manage conflicts of interest
knows when the board needs external expert advice on risk management
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