41061 Unite AR22 HI-RES WEB-READY - Flipbook - Page 79
STRATEGIC REPORT
GOVERNANCE
FINANCIAL STATEMENTS
OTHER INFORMATION
RISK MANAGEMENT
RESILIENT AND AGILE
Our approach to risk management enabled us to
position the business in light of unprecedented levels
of change in the last few years
“Identifying and managing the principal
internal and external risks associated
with the delivery of our strategic
objectives is key to our success.”
Joe Lister
Chief Financial Officer
Governance
REFLECTING ON 2022
•
We aligned our principal risks to our
strategy and corporate objectives
•
Continued with our cladding and fire
safety works
•
Engaged with leaders in the HE sector
to understand emerging risks
•
Tracked and ran scenarios for the
changing economic backdrop
OUR PRIORITIES FOR 2023
•
Manage the risks arising from
macroeconomic factors
•
Monitor and influence the impact
of political risks on the HE sector
•
Further refine our risk management in
our operational and support functions
•
Continue to enhance our IT infrastructure
and security
The Board has overall responsibility for the oversight of
risk as well as maintaining a robust risk management
framework and internal control system. The Audit & Risk
Committee supports the Board by receiving assurance
reporting, enabling them to review the effectiveness of
our risk management and internal control processes. Our
risk management framework is designed to ensure the
Board can clearly identify our risks, assess our risk profile
and set our risk appetite, and ensure these risks are being
managed and mitigated transparently and effectively.
Integral to this design is ensuring we are agile and resilient
to macroeconomic and political challenges.
Risk management
Our integrated risk management approach combines a
top-down strategic view with a bottom-up operational
view, the output from this approach is a number of
strategic risks under 7 categories.
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