Fleming College recognizes that the evolving and dynamic nature of the Ontario Post-Secondary landscape requires the institution to accept levels of risk that are commensurate with expected objectives and other opportunities/benefits.
At the same time, the College accepts that all decisions have potential consequences, and as a public entity and steward of public resources, appropriate limits are required.
The college is willing to accept risk in pursuing opportunities, excellence in teaching, innovation, community partnerships, etc., as long as the following considerations within its key risk categories are observed:
- Strategic Risk will not adversely impact the student experience, recruitment, enrolment and retention.
- Reputational Risk will not significantly adversely impact the College’s reputation or compromise the fundamentals of its mission, vision and values.
- Operational Risk will not materially disrupt service delivery.
- Financial Risk when aggregated will not negatively materially impact the College’s overall financial integrity and health.
- People Risk will not significantly discourage trust, engagement, inclusion and empowerment, but should support and enable the College’s people and communities.
- Compliance Risk – the College will operate with prudence within all legislation, regulation and policy-based requirements to the extent that it will not knowingly put itself in a position that results in significant non-compliance, or significantly delays its ability to take appropriate corrective actions.
All college staff have a responsibility for identifying and managing risk within the college. Please familiarize yourself with the Policies and Procedures making up Fleming College Enterprise Risk Management Framework.