Organisational Risk Management

Question 1

Who does the risk management policy apply to

Answer 1

All employees and contractors

Any entity or person who acts for or represents Police, Also includes all Police workplace locations

Question 2

What is the first line of defence in risk management

Answer 2

All Police personnel - identifying and discussing any potential risks

Question 3

What is the second line of defence in risk management

Answer 3

Management processes and controls - provide a robust management environment for discussing, acting upon and escalating risks

Question 4

What is the third line of defence in risk management

Answer 4

Internal audit and assurance - Internal audit provides assurance on the effectiveness of governance, risk management, and internal controls to ELB and ARC1, who are the primary stakeholders served by the three lines of defence

Question 5

What tool can also be used in risk management

Answer 5

TENR

Question 6

What is risk

Answer 6

‘the effect of uncertainty in achieving objectives’

Question 7

The risk management process involves five steps these are

Answer 7

Establish context
Identify risk
Analyse risk and impact
Evaluate risk
Take action

Question 8

Risk Management roles and responsibilities are

Answer 8

Risk Coordinator role - Risk Coordinator acts as the first point of contact for all risk related matters in their work group
Risk Lead role - responsible for monitoring the risk on behalf of the District etc
Treatment Lead role - responsible for ensuring the treatment for a certain risk is developed and applied on behalf of their District etc

Question 9

Step 1 of risk management process establishes the context in which you are operating in. What external environmental factors need to be considered. PESTLE

Answer 9

• Political: areas in society and the economy where government is involved
• Economic: factors include growth, interest and exchange rates, inflation
• Social: cultural aspects including attitudes, prevailing norms, age distribution
• Technological: innovations and trends
• Legal: applicable laws and regulatory standards
• Environmental: ecological factors such as weather and climate.

Question 10

Step 1 of risk management process establishes the context in which you are operating in. What internal environmental factors need to be considered

Answer 10

• Objectives and strategies
• Risk assessment criteria
• Resources and knowledge (e.g. people, processes and systems)
• Culture and behaviours

Question 11

What is a good framework for risk identification

Answer 11

S trengths
W eaknesses
O pportunities
T hreats

Question 12

A risk is a;

Answer 12

‘future event’ that may or may not happen

Question 13

An issue is a;

Answer 13

problem or concern that is occurring or has occurred

Question 14

What are the three elements of a risk in the context of writing a risk statement

Answer 14

Uncertain event
Cause
Consequence

Question 15

The severity of the consequences of an unexpected event are #5

Answer 15

Negligible
Minor
Moderate
Major
Severe

Question 16

How can risks be assessed and reported on a consistent basis

Answer 16

Using a the risk matrix

Question 17

When evaluating risk how do you determine if the risk requires a treatment plan and escalation

Answer 17

Using the risk response table

Question 18

What is the requirement for all risks ‘needing active management’ (NAM) and ‘under management’ (UM)

Answer 18

They are re escalated for awareness to the next level of management.

Question 19

When evaluating the risk, and your response(s), it is useful to think about the actions (interventions) to be undertaken and what they are targeted towards #4

Answer 19

Preventative
Detective
Corrective
Directive

Question 20

When developing a risk response ensure that it captures #4

Answer 20

• Person(s) responsible for actions to be undertaken.
• Action(s) / task(s) involved that clearly indicate what is being modified (i.e. likelihood or consequence).
• Target date for completion.
• Any likely resources involved.