The University has a risk management policy which is approved annually by the Board of Governors. The risk management policy outlines the underlying approach to risk management, responsibility and accountability in terms of risk management, the processes and systems in place to safeguard risk management and how the effectiveness of the management of risks is assured.
At the University of Northampton, Faculties and Professional Services develop risk registers which reflect the key risks which are considered to have an impact on the work of their area. In addition, there is a risk register for the Waterside Campus.
Risk registers are considered periodically by the University’s Risk Management Group, which is part of the University Management Team. Key risks identified at Faculty or Service level and those identified as part of the Waterside Campus project are included within the University’s institutional risk register which is considered by the Board of Governors’ Audit Committee and the Board three times a year.
Annually, the Board receives a report outlining the effectiveness of the risk management process during the previous year. This report provides assurances which underpin the University’s Statement of Corporate Governance and Internal Control in the Financial Statements. The Board is also invited to consider its risk appetite against key strategic areas. This appetite is discussed at risk workshops which take place annually and to which all governors and senior managers of the University are invited.
Further information on risk management and risk appetite can be obtained from Nick Allen, Executive Officer.