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Risk Registers

Risk registers capture data from the risk management program. The University's risk register framework comprises three levels:-

• University Risk Register - captures strategic risks related to the University as an entity; or risks very broad in nature; or risks with multiple responsible members of the Senior Executive
  
  
• Organisational Area Risk Registers - capture risks related to a specific division/faculty/institute. See also Generic Risks
  
  
• Functional Area Risk Registers - optional registers, capturing risks specific to a team, functional area or school

The Risk and Insurance Team has also prepared a generic risk relating to Fraud and Corruption, that may assist you in completing your risk register: Prevention of Fraud and Corruption - Generic Risk

Risk Register Review

All risk registers are reviewed at least annually, the University risk register by the Audit and Risk Committee, the Planning and Resources Committee and the Risk and Compliance Management Subcommittee (RCMSc) and all organisational and functional area risk registers by either a Risk Register Review (RRR) Group of the RCMSc or by the Manager, Strategy and Risk.

As of October 2007, a Triennial Review Cycle (refer below) will be adopted.

Year One [2008; 2011 etc]	Year Two [2009; 2012 etc]	Year Three [2010; 2013 etc]
RRR group assurance All new risk registers developed during proceeding 12 months to September [these will be included in future years in Cohort A] Cohort A risk registers	RRR group assurance All new risk registers developed during proceeding 12 months to September [these will be included in future years in Cohort B] Cohort B risk registers	RRR group assurance All new risk registers developed during proceeding 12 months to September [these will be included in future years in Cohort C] Cohort C risk registers
Manager, Strategy and Risk assurance Cohort B risk registers Cohort C risk registers	Manager, Strategy and Risk assurance Cohort C risk registers Cohort A risk registers	Manager, Strategy and Risk assurance Cohort A risk registers Cohort B risk registers

Overview of the RRR group assurance:
Faculty and Other Area representatives attendance at a RRR group meeting where the risk register(s) and the completed risk register review tool will comprise the agenda papers. The RRR group will request a discussion of any exceptions on the completed risk register review tool. For risk registers previously reviewed by an RRR group a request to highlight only the changes and/or exceptions within their risk registers. For "new" risk registers, a full review and discussion following the content of the risk register review tool.

Overview of the Manager, Strategy and Risk assurance:
A review date will be set for each risk register, Faculties and Other Areas will have until one week prior to make enhancements to their risk register and provide a completed risk register review tool. The risk register and risk register review tool are "desk top" reviewed by a member of the Risk and Insurance team to gain a preliminary opinion on the adequacy of the risk register. A member of the Risk and Insurance team and the Faculty or Other Area representative meet to discuss the risk register and negotiate any required enhancements. Once enhancements have been completed the risk register is noted as meeting the requirements of the risk management program by the Manager, Strategy and Risk.
Refer to the 2009 Risk Register Review Tool, which will be utilised by all RRR groups.

For more information email: karyn.hughes@deakin.edu.au