Risk Management districts and clubs Roxy Rapedius April 2017

What is Risk Management?

What is a risk? A risk is the potential of losing something that you have such as physical health, social status or financial wealth. The types of risk facing nonprofits typically include: financial, operational, professional liability, statutory liability, and reputation

SOURCES OF RISK Sources of Risks Internal External

Legal structure & tax status Unincorporated association 501(c)(4) and 501(c)(3) Company limited by guarantee

Finance & Operation Internal Controls Written policy Clear role definition Systems of check and balances Assure integrity of financial assets

Internal control Regular and frequent financial reports Keep valuables safe Two signatures on bank account 2-3 signatures on contracts Define roles and responsibilities Reconcile bank accounts monthly Check conflict of interest Give your auditors everything they need Write it all down in a manual Keep your bylaws and rules of procedures updated and current Make sure you have minutes taken at all meetings and be readily available

**New** Electronic Communication Social media A blessing or a curse? **New** Electronic Communication Policy & Guidelines

District conference Who signs the contracts? Protect your volunteers Secure online registration and payment What is PCI-DSS? Protect your volunteers

Other risks Succession planning Archives Password protection Awards Train your officers Sudden death or illness Succession planning Handover each biennium Document procedure Archives Keep passwords safe Change password frequently Password protection False applications Discrimination Awards

Liability & Insurance General Liability Insurance - protects from injury or damage arising from Zonta district or club activity. All North American members covered and paying additional member fee of $3 to cover the cost Directors & Officers Liability Insurance – protects the directors and officers

Insurance - other Event cancellation

What do we do? IDENTIFY RISK ASSESS RISK 1 IDENTIFY RISK 2 ASSESS RISK 3 MAKE A RISK MATRIX (Evaluate/Rank) 4 ACTION PLAN (Treat) 5 MONITOR & REVIEW

Risk Matrix LIKELIHOOD I M P A C T Very low Low Medium High Very high

How do we do it? Nominate somebody responsible Appoint a person to deal with each identified risk = risk owner Do this analysis annually Document the result Document procedures

Protect yourself, your club, your district, ZI and ZIF RISK MANAGEMENT Something to Remember.... Although you have done something for a long time without issue, you can still be sued even if you have done nothing wrong. Protect yourself, your club, your district, ZI and ZIF

THANK YOU