A faith organisation approached the Ecclesiastical Enterprise Risk Management (ERM) team asking for support to further develop their strategic risk management arrangements.
Over a period of months the ERM team provided help in the following areas:
This involved an independent review of the organisation's current risk management approach against best practice. The review acknowledged the positive work that had been completed to date, recent improvements to the risk register format, improved ownership of top risks and the introduction of a risk heat map. Areas for improvement were also highlighted around defining risk appetite, moving from a word document risk register to excel format, including the recommendations of some additional fields, to make it more agile and user friendly to further embed risk management into day-to-day operations.
To support embedding of risk management, three tailored ERM coaching sessions were provided to two individuals within the organisation with responsibility for risk management. The coaching sessions focussed on the following areas:
This involved a virtual strategic risk training workshop with the Senior Management team highlighting progress to date with regards to risk management developments and walking through the ERM Framework and supporting process to bring it to life and further embed the risk culture within the organisation.
The faith organisation was more confident with their risk management arrangements which were proportionate to the size and shape of their organisation. They felt that risk management was more embedded into normal operations and were better placed to manage risks and look for opportunities aligned to the delivery of their key objectives.