Control & risk management

A well-run board will manage risk, maintain control and make effective decisions to direct and oversee the progress and performance of the organisation.

As the board, we should put in place appropriate structures, financial controls, policies and procedures. These will help our organisation to identify and manage risks and opportunities in line with its purposes and values, our governing document, and relevant legal and regulatory requirements.

We will achieve this by doing the following:

• Understanding and keeping to all legal, contractual and regulatory requirements.
• Maintaining and regularly reviewing policies, procedures and reporting arrangements (for example, those relating to our internal governance, safeguarding, fundraising, financial controls, the environment, and equality, diversity and inclusion).
• Creating a safe and respectful environment for all and meeting our safeguarding responsibilities.
• Making sure our scrutiny and decision-making processes are thorough, informed, clear, well-timed and communicated effectively.
• Understanding and analysing the internal and external operating environment, to regularly identify and review the risks and opportunities our organisation is exposed to.
• Making plans to reduce and manage risks appropriately, to better achieve the purpose of our organisation.
• Monitoring and reviewing the sustainability of our organisation.
• Monitoring and evaluating our organisation’s performance against plans and budgets, and making sure they are in line with our organisation’s purposes, strategic aims and resources.
• Making sure that any agreements, contracts and partnership working are in line with our organisation’s interests and values, and are regularly reviewed.
• Getting appropriate specialist advice where necessary.
• Regularly reviewing whether our organisation’s legal and governance structure is fit for purpose and provides appropriate protection for our organisation and its stakeholders.
• Making sure there are effective financial controls in place and that we receive clear information so we can monitor our organisation’s financial position.
• Being ultimately responsible for our organisation’s decisions and actions, and making sure that delegation is clear, appropriate, effective, properly documented and supervised.
• Making sure processes and procedures are in place and followed to provide ongoing support and safeguarding for staff and volunteers, and fair employment practice.