Public Board of Directors papers 27.01.22

Agenda item

Board of Directors Thursday 27 th January 2022

Risk Management Strategy and Policy 2021-2024

1) Introduction The Risk Management Strategy and Policy 2021-2024 replaces the previous policy 2017- 2020. The updated document has been developed through extensive consultation with a broad range of staff from across the organisation and has been approved by the Risk & Quality Governance Committee and the Management Board. 2) Background The Trust has a holistic approach to Risk Management across the organisation, which embraces financial, corporate, reputational, clinical, non-clinical and project risks. The Trust takes all reasonable steps in the management of risk with the overall objective of protecting patients, staff and its assets. The primary concern is the provision of a safe environment together with having systems and processes in place to identify, assess, evaluate, and assign responsibilities to manage risks within the Trust. This is achieved by ensuring that risk management and corporate governance is an integrated process through which the organisation will identify, assess, analyse, and manage risks and incidents at every level of the organisation and aggregate the results at a corporate level. To achieve this objective, the Trust has adopted a pro-active approach. The key objectives and elements of this strategy are set out in the driver diagram at Appendix 1. This is supported by the Policy set out in section two of this document. This 2021-2024 Risk Management Strategy has 3 objectives supported by key aims and specific elements to drive forward their implementation. Each objective highlights the importance in providing assurance that effective systems and specific processes are in place. The work will be prioritised over the next three years to link with major parallel strategies e.g. Our Strategy and the National Patient Safety Strategy. Risk management is the responsibility of all staff. Managers at all levels are expected to take an active lead to ensure that risk management is a fundamental part of their operational working and service delivery. 3) Recommendation The Board of Directors are asked to approve the updated Risk Management Strategy & Policy 2021 – 2024 that replaces the previous three-year strategy 2017-2020.

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