risk management

Financial Procedures

It is good practice for an organisation to produce a detailed set of financial procedures.  Financial procedures are a set of instructions that any stakeholder, including new members of the committee or staff, can use to find out exactly: what tasks need to be done; who will do these tasks; and who will ensure the tasks are done properly.

Insurance Help! Sheet

Types of insurance policy

Following is a brief summary of various types of insurance available:

Employer's Liability Insurance

If your group or organisation employs staff (full time or part time) it is required by law to purchase Employer's Liability Insurance.  This covers paid employees in the event of accident, disease or injury caused or made worse as a result of work or of employer's negligence.  In order to cover volunteers, in addition to staff, the policy must explicitly mention volunteers.

Checklist: Limiting Liability

A Management Committee that has all of the following measures in place will have significantly limited the risk of personal liability. 

Use this sheet as a checklist to assess how your committee measures up!

Area

Features of good practice

Yes?

How to Develop a Risk Management Strategy

This strategy should be appropriate to the size, responsibilities and capacity of your organisation.  The questions below can help form your checklist:

1. Who will be responsible for carrying out the initial risk assessment?

Will this be a Management Committee member?  Senior staff member?  A volunteer?  An external consultant?  Judgement should be made based on the level of detail and time involved (see point 2), the expertise or knowledge required and the size of the organisation.