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RISK MANAGEMENT FRAMEWORK - Massey University

1 RISK MANAGEMENT FRAMEWORK 2 RISK MANAGEMENT FRAMEWORK .. 1 INTRODUCTION .. 3 AN EFFECTIVE ENTERPRISE RISK MANAGEMENT SYSTEM .. 4 Guiding principles .. 4 RISK GOVERNANCE .. 5 Mandate and Commitment .. 5 Roles and Responsibilities .. 5 Accountability for Risk MANAGEMENT .. 6 INTEGRATION INTO ORGANISATIONAL PROCESSES .. 6 ALIGNMENT OF RISK TO STRATEGIC OBJECTIVES .. 7 Strategic risk .. 7 Operational risk .. 7 RISK ASSESSMENT CRITERIA .. 8 Likelihood assessment .. 8 Assessment of effectiveness of controls .. 8 Consequence Assessment .. 8 University consequence matrix.

The Risk Management Office will periodically review and confirm that each principle continues to be satisfied and is tailored to meet the needs of the University. 1 AS/NZS ISO 31000:2009 Australian/New Zealand Standard: Risk managementPrinciples and guidelines.

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