Risk Management Policy 19th. February 2017
Risks are inherent in all aspects of sailing and the Metung Yacht Club Inc (“MYC”) acknowledges the role of risk management as critical to the safe and controlled provision of the sport to sailors, officials, volunteers, and spectators.
This is an organization-wide policy and applies to all operations undertaken by the MYC. The successful implementation of the Risk Management Policy requires a consistent and systematic approach to risk management at all levels of the MYC’s operation. The policy is supported by the Risk Management Framework.
This policy is a statement of the overall approach to risk management of the MYC. The purpose of this policy is to provide a framework for the elimination or control of risks associated with MYC’s activities.
Reduce the incidence of injury to participants, officials and other persons associated with MYC sailing competitors and activities.
Provide a fun, healthy and safe sporting environment for individuals to participate and enjoy the sport of sailing.
Minimize potential MYC liability as a result of poorly managed sailing competitions and activities.
For risk management to be effective, all sections of the MYC must comply with the principles below:
- Risk management creates and protects value.
- Risk management is an integral part of all organizational processes.
- Risk management is part of decision making.
- Risk management explicitly addessses uncertainty.
- Risk management is systematic, structured and timely.
- Risk management is based on the best available information.
- Risk management is tailored.
- Risk management takes human and cultural factors into account.
- Risk management is transparent and inclusive.
- Risk management is dynamic, iterative and responsive to change.
- Risk management facilitates continual improvement of the organization.
In order to manage risk in accordance with best practice, the MYC is committed to managing risk in accordance with the process described in the Australian/New Zealand Standard (AS/NZS ISO 31000:2009 Risk management – Principles and guidelines) as well as the MYC established ethical standards and values. The process is described in the Risk Management Framework. All risk management systems and methodologies must be consistent with this process.
This Standard requires that the MYC’s risk management strategy is a systematic hierarchical driven process to identify, analyze, assess, communicate and treat risks that can adversely impact on the performance and standing of the organization.
The range of risks that the MYC needs to be prepared to deal with will include:
- Public and Professional Liability responsibilities
- Occupational Health and Safely responsibilities
- Financial Management
- Organizational Management and Operational Practices
- Member and Child Protection
Responsibility for risk management is shared across the organization.
Key responsibilities include:
- The Committee is responsible for overseeing the establishment and implementation of a risk management framework and reviewing its effectiveness. The Board is responsible for satisfying itself annually, or more frequently as required, that management has developed and implemented an effective risk management framework.
- MYC staff and management are responsible for the effective identification, management, reporting and control of risk within their areas of responsibility, and for developing a risk-aware culture.
- MYC will assess the effectiveness of its risk management plan, through structured continually monitored and reviewed. Thi will include the appraisal of the actions of risk owners in managing risks.
- MYC will ensure that the board is adequately informed of significant risk management issues and the actions undertaken to manage risks on a regular basis.
The risk management framework and policy will be reviewed annually or earlier in response to an event or as required by a change in circumstances.