Risk Management

Risk management is a critical responsibility for a station's board or management committee.

In order to discharge their duties, board members and managers need to know and assess the nature and magnitude of risks faced by the station. They also need confidence that management has an effective framework in place to manage those risks.

Risk management for directors: A handbook

The Governance Institute of Australia has developed Risk management for directors: A handbook to assist those on the governing body of an organisation to:

• gain clarity about the interaction of governance and risk management
• avoid confusion in the responsibilities of those with an oversight role and those with an implementation role
• achieve focus on embedding risk management within the strategic framework.