Status and Details

This page contains information about the status, approval and a summary of the changes from the previous version of the document. Please note that the Unit Head listed on this page is the current owner of this policy and may not reflect the University position/staff member who owned this policy at the time of publication.

Risk Management Policy

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Status	Current	Indicates if this version of the document is in effect (Current), yet to come into effect (Future), or expired (Historic).
Effective Date	2nd March 2023	This is the date on which this version of the document came into effect.
Review Date	2nd March 2028	The next review of this document is scheduled to commence on this date.
Approval Authority	Board of Trustees	The noted authority approved this is version of the document.
Approval Date	2nd March 2023	This is the date on which this version of the document was approved by the authorised authority.
Expiry Date	Not Applicable	This is the date on which this version expires. It may still apply, conditionally, after this date.
Unit Head	Peter Tow Executive Director, Strategic Projects Implementation and Improvements 45701801	This is the officer generally responsible for day to day administrative matters.
Enquiries Contact	Peter Tow Executive Director, Strategic Projects Implementation and Improvements 45701801	General enquiries should be directed to the officer/area listed.

Summary of Changes from Previous Version

20/02/2024: System Administrator Fix – deleted alternate text for reference to ‘Senior Deputy Vice-Chancellor and Provost’ position title which changed to ‘Senior Deputy Vice-Chancellor’ on 1 January 2024.

13/12/2023: System Administrator Fix – inserted hyperlinks to the associated information document ‘Risk Appetite Statement’ which were previously removed while the document was under review and pending approval by the Board of Trustees. the revised associated information document was approved at the Board’s meeting on 6 December 2023.

8/11/2023: System Administrator Fix – removed hyperlinks to the associated information document ‘Risk Appetite Statement’ which is under review. The hyperlink to the document will be inserted once the revised document is approved and available.

15 March 2023 – Minor Textual Amendment: Clause 28 amended to correct reference and insert hyperlink to the associated information ‘Guidelines for Writing Board and Committee Papers’ which was incorrectly titled ‘Board and Committee reporting guidelines’.

Policy approved by Board of Trustees on 22 February 2023, and noted Western Risk Assessment Guide for the VC's approval. Resolution 22/02/2023:6. The revised Risk Management Plan is based on feedback from various stakeholders. Most clauses have been amended but, in the main, the changes are to improve syntax. More significant changes are: Clause (7) additional and/or amended definitions; more information about the Risk Management Framework can be found in Clause (12); Clauses (17) & (18) provide an overview of the Western Risk Assessment Guide (WRAG) and identify areas responsible for its implementation; Clause (20) advises that Operational Risk Assessment may be done at the Divisional level as appropriate given the size, complexity and number of different functions being managed under the Division; Clause (21) states the requirements of risk registers; the role of the Audit and Risk Committee (ARC) has been updated in Clauses (23) & (24); Clause (28) has been updated to state that risks are to be noted as part of a business case and that related risks will be covered under the new Board of Trustees and BOT Committee reporting requirements; Researchers' responsibilities are addressed in a new Clause (32); the responsibilities of all staff have been better articulated in Clauses (33) & (34). The new Western Risk Assessment Guide (WRAG), which is available from the Associated Information tab,

Clauses Amended:Policy: All but 1, 3, 4, 5, 7, 8, 10, 11, 12, 13, 14, 15, 16, 17, 18, 20, 21, 23, 24, 26, 27, 28, 29, 30, 31, 32, 33, 34, 36.

01/01/2024: Position name changed from Senior Deputy Vice-Chancellor and Provost (SDVC & Provost) to Senior Deputy Vice-Chancellor (SDVC)