Heulwen Trust Risk Management
The Heulwen Trust recognises the importance of Risk Management in order to maintain the ability to deliver the activities/services expected of the Trust. Risk Management is a factor that enables the Trust to satisfy its objective to deliver high quality services.
Risk Management Policy
The Risk Management Policy of the Trust is to be fully committed to effective Risk Management, adopting best practices in the identification, evaluation and control of risks, in order to:
- Integrate risk management into the culture of the Trust,
- Eliminate or reduce risks to an acceptable level,
- Anticipate and respond to changing social, environmental and legislative requirements,
- Prevent injury and damage and reduce the cost of risk, and
- Raise awareness of the need for Risk Management.
Approach to Risk Management
The Trust’s approach to Risk Management requires that all risks should be systemically identified and managed in the most cost effective manner within the overall resources available. The Trust will review on-going risks annually in the Risk Assessment document.
The Trust will:
- Take steps to identify and update the record of key risks facing the Trust,
- Evaluate the potential consequences to the Trust if an event identified as a risk takes place,
- Decide upon appropriate measures to avoid, reduce or control the risk or its consequences, and
- Record any conclusions or decisions reached. For ‘one off’ or periodic events individual risk assessments shall be part of the event planning. The Trust will normally evaluate the risk within one of the following three categories:
- Areas where there may be scope to use insurance to help manage risk,
- Areas where there may be scope to work with others to help manage risk,
- Areas where the Trust may self-manage risk.
Scheme adopted: March 2019