1. Introduction

SLSQ Enterprise Risk

A holistic review of the SLSQ risk position has been undertaken enabled to create a risk document that truly reflects our risk management undertaking at SLSQ.

Through this process, it was determined to split our existing risk register into two risk registers: Strategic (Corporate); and Operational.

Strategic (Corporate) Risk

The strategic (corporate) risk factors that may have heavy impacts to the functionality of our business. These can be categorised as internal or external risk to our business.

Our strategic (corporate) risks will very rarely change and will stay open on the Strategic Risk Register as a reminder of where our corporate focus must remain.

Operational Risk

Risks that may alter or disrupt the regular working processes of SLSQ and can generally be addressed by policies, systems, or events.

These identified risks will come and go as treatments/mitigations are put in place to address the identified risks, whether it removes the risk completely or reduces it to an acceptable risk management level.

Risk Management Framework

As part of the holistic review of SLSQ’s risk process, it was identified that there were some gaps in our Risk Management Framework.

The approach was taken to re-write a more inclusive Risk Management Framework that underpins our understanding of the risk process, identifies treatments/mitigations and clearly defines the Boards tolerance to all risk items.

• Risk Appetite Statement – This was re-written to better reflect SLSQ’s risk understanding and appetite to managing risks. The boards acceptance of risk remains at the same level of a “LOW” tolerance to risk.

• Enterprise Risk Management Framework – Is the Policy to which identifies our approach, objectives, overview, identification, assessments, treatment, communications and reviewing of SLSQ’s risk. This document sets the tone for how we will manage risk across SLSQ.

• Risk Management Procedure – Clearly defines roles and responsibilities of SLSQ staff and volunteers at all levels and how we identify and classify risks to determine the length of time a risk items should remain open and current