- Annual risk assessment workshops are facilitated during which unit managers and other representatives are required to identify risks that pertain to their respective units
- During risk assessment workshops, besides identification of risks, risks are evaluated for significance, and thereafter action plans are developed to address those risks considered to be significant enough to jeopardize the achievement of the institution’s objectives.
- The risk management component ensures that the developed actions plans are actually implemented by having follow-up meetings with the relevant risks owners (officials responsible for addressing the particular risk).
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