These pages provide information on high level risk management and compliance activities at the University and are a resource to help staff incorporate risk management into their overall management approach.
The Risk Management Office
The Risk Management Office is responsible for facilitating operational risk management and legal compliance in the University, to help protect the University’s assets, reputation, capability and productivity.
Responsibilities include:
- Implementing the Risk Management Framework
- Legal Compliance
- Facilitating Emergency Management Planning
- Facilitating Business Continuity Planning
- Risk analyses for proposed significant Capital Expenditure, as part of the CAWSEP procedure.
- Supporting the implementation of the Policy Framework
- Providing advice and support to staff with respect to legal, risk or compliance related issues, and more generally, a point of contact to openly discuss anything that ‘does not seem right’. A compliance incident is anything that may be considered a breach of the policies, procedures, laws and regulations that govern the University’s business. A risk is anything that may have a serious impact on the achievement of the University’s goals or more generally, its public standing.
Why manage risks?
Proactively managing risk is beneficial to the University as risks are prevented or detected earlier when their impact is smaller, and typically remediated more quickly and at lower cost.
Managing risk effectively also:
- Supports the achievement of objectives
- Allows greater risks to be taken
- Helps encourage innovation (= risk taking)
- Reduces the chance of serious errors and inefficiencies
Risk Management at the University of Otago is not limited to financial risks, but all kinds of risks including academic reputation. The University’s risk management activities are intended to complement the work of the Quality Advancement Unit, the overall goal being the continuous improvement of University activities.
Risk management documents
- Risk Management Policy
- Risk Management Framework (including tools and templates)
- How to Risk Profiling Guide for Heads of Service Divisions/Managers
- Risk Register Template
- Emergency Management Plan
- Business Continuity Policy
- Policy Framework
- Risk Management, Ethics and Statutory Compliance Committee
For further information, contact
Alexandra Sweetman
Tel 64 3 479 5005
Fax 64 3 479 8040
Email alexandra.sweetman@otago.ac.nz
