Public Board of Directors papers 27.01.22

SECTION TWO RISK MANAGEMENT POLICY This risk management Policy underpins the delivery of the 2021-2024 risk management strategy. 5.0 DUTIES 5.1 Board of Directors The Board of Directors monitors the totality of the Quality governance framework and the three yearly governance review; is responsible for the effectiveness of internal controls; ensuring that the Trust has effective systems for identifying and managing all risks. The Board has established a risk management structure to help deliver its responsibility for implementing risk management systems within the Trust. The Board of Directors is required to produce a statement of assurance that it is doing its “reasonable best”, to manage the Trust’s affairs efficiently and effectively through the implementation of internal controls to manage risk. The Board of Directors is responsible for maintaining the Board Assurance Framework. This responsibility is delegated to the Company Secretary. To inform the Annual Governance Statement (AGS) made by the Chief Executive in the annual accounts, the Board of Directors must be able to demonstrate that they have been informed through the about all significant risks and that they have arrived at their conclusions on the totality of risk based on the evidence presented to them. 5.2 Chief Executive The Chief Executive has overall accountability to the Board of Directors for: • governance and quality within the Trust • safeguarding the public funds and the organisation’s assets • compliance with health and safety legislation • ensuring all reasonable actions are taken to minimise risks to patients, staff and the public Operationally, the Chief Executive has delegated responsibility for implementation of risk management to the Chief Nurse and Executive Director of Quality, Executive Medical Director, Chief Operating officer and financial risk management to the Executive Director of Finance. 5.3 Executive Directors Executive directors are responsible for the management of all strategic and operational risks within their own portfolios. 5.4 Non-Executive Directors The non-executive directors have the responsibility to ensure that the chief executive and the executive directors are held to account for their risk management responsibilities. 5.5 Individuals with specific responsibilities for risk management 5.4.1 Director of Pharmacy Responsibility for the delivery of safe medicines management and as the Accountable Officer for Pharmacy to ensure total compliance with legislation for controlled drugs. 5.5.2 Divisional Teams Divisional leads are accountable for the effective management of risk within their areas of responsibility and for the systematic review of the effectiveness of their risk management systems. They must ensure the Trust’s risk management processes are fully implemented within their services, risk registers are maintained, and are able to ensure principal risks to the Trust’s objectives are systematically identified, evaluated, eliminated or reduced and managed.

Risk management strategy and Policy 2021-2024 Document ref: RM01 Version 04

Page 12 of 38

73