While all College employees are responsible for effectively identifying risks and are all Risk Champions, Fleming College Enterprise Risk Management Framework requires that Deans and Directors be responsible for identifying, evaluating and managing risks within their areas of responsibility. The following documents are available to assist in the documentation and evaluation of risk as identified. Risk identification and evaluation should occur as risks arise along with consultation with senior leaders. Risk Plans can be submitted to the Enterprise Risk Management Committee at any time in the year.
Along with identification and evaluation, we must also manage risks. A formal review of The College Risk Register will occur 4 times a year to tie to the College administrative business cycle and reporting frequency as requested by our Board of Governors. The annual cycle will occur as follows.
| Formal Review Process | |||
| Report Recipient | Board of Governors | Risk Management Steering Committee (ELT) | Enterprise Risk Management Committee |
| Reporting Responsibility | Risk Management Steering Committee | Enterprise Risk Management Committee | Risk Champions (Deans/Directors accountability) |
| Supporting Process in Business Cycle | Timing | ||
| Mid May full update of risk register will following budget deliberations, business plan development and will close out the Board’s year. | June | June | 2nd week in May |
| October update following Fall start up to support adjustments for Budget and Business plan updates. | November | November | 2nd week in October |
| Refresh – December: following budget adjustments and preparing for year end funding opportunities | January | January | 2nd week in December |
| Refresh – February: following winter start up and while preparing for next fiscal budget | April | March | 3rd week in February |