1. FiMT Governance Committee 7 Aug 2018 – Risk Register Discussion – Item 6
START
Assess potential risks and impact
Make risk appetite decision
Introduce controls to mitigate risks
Identify and deal with risk events
Report and learn from risk events
Regular assessment of status of risks
Enhance controls to address
Risk Management Cycle

2. Inherent Risk Rating Assessment (C)
Risk Register – proposed enhanced version
Risk Impact Ratings: A – Likelihood (1-5) B – Impact (1-5) C – Score (AB+B) Changes since previous version shown highlighted
15 points or more – Board action required
8-14 points – Board monitoring of actions and/or Exec Team actions required
7 points or less – Routine Exec Team monitoring required
ID #
Identified Risk A B
Inherent Risk Rating Assessment (C)
Existing Controls
Status (incl. Any risk events)
Action / mitigating plan
Resp.
Current risk
(CEO assessment)
Governance (through GC) G1
Unexpected loss of key people such as Chairman or CE 2 3 9
Deputy Chairman role created Informal arrangement with Alium for Interim CE at 48 hours’ notice Succession planning Regular review at GC meetings and included in Board reports
Chairman and CE in role. Further recruitment underway to enhance executive team including Dep CEO.
Complete recruitment for key executive vacancies. CE G2
Insufficient Board capacity or skills
Directors selected for experience and knowledge relevant to FIMT needs. Succession planning considered by Governance Committee
Resignations of Andrew Barnett (Independent) and Melanie Waters (COBSEO director). Board remains effective but sub-optimal so replacement board directors being sought.
COBSEO requested to nominate new director. GC considering independent director vacancy.
CE & GC

3. Risk Assessment Scoring Methodology (Recommended by Charity Commission)
Impact
Descriptor
Score
Impact on service and reputation
Insignificant 1
• no impact on service • no impact on reputation • complaint unlikely • litigation risk remote
Minor 2
• slight impact on service • slight impact on reputation • complaint possible • litigation possible
Moderate 3
• some service disruption • potential for adverse publicity - avoidable with careful handling • complaint probable • litigation probable
Major 4
• service disrupted • adverse publicity not avoidable (local media) • complaint probable • litigation probable
Extreme/ Catastrophic 5
• service interrupted for significant time • major adverse publicity not avoidable (national media) • major litigation expected • resignation of senior management and board • loss of beneficiary confidence
Likelihood
Example
Remote
may only occur in exceptional circumstances
Unlikely
expected to occur in a few circumstances
Possible
expected to occur in some circumstances
Probable
expected to occur in many circumstances
Highly probable
expected to occur frequently and in most circumstances