Financial Regulations

6. Risk Management

6.1

The College acknowledges the risks inherent in its business, and is committed to managing those risks that pose a significant threat to the achievement of its business objectives and financial health. An overview of the level of risk considered to be acceptable/unacceptable by the College, together with the key principles observed by Council in determining the College's approach to risk management will be set out in a separate Risk Policy (PDF).

6.2

The Council has overall responsibility for ensuring that there is an appropriate strategic approach to the management of risk throughout the College through the development, implementation and embedding within the organisation of a formal, structured risk management process.

6.3

Heads of Department must ensure that any agreements negotiated within their departments with external bodies cover any legal liabilities to which the College may be exposed. The advice of the Registrar and Secretary should be sought to ensure that this is the case.