Risk Management

Supporting innovation while managing risk within appetite

Ask not what risk management does To YOU but what risk management can do FOR YOU!

Risk Management Resource Centre

Welcome to our central resource for understanding how we identify, assess, and manage risk across our university. This page brings together our key frameworks, policies, tools, and documents so you can quickly find what you need.

Overview

The purpose of risk management is the creation and protection of value. The University Council is ultimately responsible for the oversight of risk management.

Risk is defined as the effect of uncertainty on objectives, where:

  • effect (or impact) is a positive and/or negative deviation from what is expected,​
  • objectives can have multiple aspects and apply at different levels, and
  • risk is expressed in terms of Causes, Events, Impact and Likelihood.​

The University’s approach is to be Risk Aware, not Risk Averse.

The University Council, via the Risk Committee is responsible for setting the risk appetite of the University. The risk appetite establishes the level of risk that is acceptable and tolerable to the University, as well as risks that are intolerable and outside appetite.

All of us play a role in risk management.

Key Documents

  • Risk Management Policy and Risk Management Framework provide information on:
    • Council’s risk appetite;
    • the University's integrated risk management framework;
    • our risk matrix; and
    • roles and responsibilities in relation to risk management, from the Council, Academic Senate and Executive Team right through to individual staff.
  • Operational Risk Profiles - If you are a Risk Profile Owner, you can access your Operational Risk Profile here.
  • Strategic Risk - If you own a Strategic Risk you can access the Strategic Profile, Risk Records, and deep dive procedures here.

Tools and Resources

Governance

Need Support?

Please reach out to RiskSupport@newcastle.edu.au