Risk Register. Fully or partiall y met. Risk 1 Strategic and Reputational Risks. Risk Consequences Existing Internal controls/evidence Risk Score

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1 Risk Register Risk 1 Strategic and Reputational Risks Failure to recruit sufficient pupils in order to make school viable Failure to ensure the objectives of school Failure to monitor and react accordingly to requirements of staff /pupils/parents Failure to monitor and react to the risks re competitor establishments Failure to assess/review partnerships Failure to ensure IT maintained to highest standard Risk Consequences Existing Internal controls/evidence Risk Significant risk Loss of confidence of beneficiaries and stakeholders (staff/pupils/parents) School fails to operate within the strategic objectives agreed by Out of date objectives Unfavourable Ofsted report Controversial objectives Staff/pupils/parents do not consider school to be valuable and of high quality Competitors more attractive Failure of parents to be able to differentiate between competitors Competition from some share of market Partnership no longer appropriate Integrity to school Security risk Corruption/loss of data Legal requirements- GDPR Admissions Policy Home School Agreement Marketing Strategy implemented Effective networking Full time nursery places to attract working parents. Experienced SMT Active and experienced All staff take active role in operation of school Effective School Improvement Plan Detailed SEF Reports to Governors Home School Agreement Staff/Parent/Pupil questionnaires Contact a member of staff via School website Marketing strategy implemented Effective networking Member of staff with responsibility for Business and Community Advertising in local stations. Mailshots to local residents. Networking Visits to other schools meetings All SMT to attend meetings IT support contract Replacement strategy in place every 3 years GDPR- Data Protection Manager LB High Med Med/ High or partiall y Improve Marketing plan to raise school awareness to residents On-going staff training. Objectives reviewed regularly On going On-going marketing plan On- going Head Teacher & & Strictly Education ongo ing 1

2 Up-to-date equipment 2

3 Risk 1 Strategic and Reputational Risks Failure to ensure school has adequate insurance cover Failure to monitor effect of risks re economic or natural disaster Failure to recruit Governors with correct profile Failure of school to produce regular/open management accounts Failure of school to have financial management systems to prevent fraud Risk Consequences Existing Internal controls/evidence Risk Legal requirements Legal requirements Risk that a Governor could attract negative publicity Risk that the Governors viewed as an extension of SMT Risk of loss of confidence in Management and admin costs perceived as too high SMT salaries to be monitored School reserves too high and not correctly apportioned Risk of litigation Risk to future of school Finance Committee Adequate buildings/employees/fixtures and fittings/employer/public liability/prof indemnity held by school Academies Insurance RPA School insurance adequate Review by Insurance companies Buildings/employees/fixtures&fittings/employer /public liability/prof indemnity held by school Up to date Business Continuity Plan Independent Clerk to Governor training and Induction DBS Checks Budget monitoring Awareness of financial regulations Effective internal and external audit Internal controls Regular and timely reconciliations Financial regulations Approve academies handbook or partiall y Improve Business continuity to be reviewed regularly More training on financial package Med Maintain levels of control / 3

4 Risk 1 Strategic and Reputational Risks Failure of school to comply with legislative requirements Failure to ensure school has robust organisational approach to deliver governance Failure of Academy and to have procedures in place to cover the absence of the or other members of SMT Risk 2 Operational Risks Failure to ensure quality of management information is of a high quality Failure to ensure management information produced in a timely manner Failure to ensure the quantity of management information is of a quality to aid decision making Risk Consequences Existing Internal controls/evidence Risk Risk of litigation Poor staff morale/future risk to school Risk that committees fail to operate Risk that committee delegation poor Risk that do not delegate or delegate too much to or SMT Risk that terms of reference are inadequate and unfit for purpose Risk of poor morale Risk to day to day running of school Risk assessment process Health & Safety Policy Guidance on Data Protection HR provision and advice Independent Clerk to Governor training and induction Register of Governor interests Internal audit Minutes of Governing Body meetings External audit Clear guidance of senior staff roles Clear cover arrangements Active membership Access to school management for guidance and support Risk that performance cannot be managed or reviewed by SMT Risk that performance cannot be challenged or reviewed by Risk school receives poor audits/inspections Networking Regular reporting and review of performance against targets SMT review process reports and minutes Support from School Improvement Partner Appraisals or Improve Med or Recruit or train existing staff to become SMT Constant scrutiny On-goin 4

5 Risk 2 Operational Risks Failure to ensure that the Governors of the school possess the skills and experience required Failure to ensure the income due to the school is collected in a timely and efficient manner and fully reconciled Failure to ensure that goods and services are purchased in line with financial regulations and invoices paid in a timely manner Failure to ensure list of suppliers current and comprehensive Failure to implement a risk management strategy Risk of insufficient knowledge/experience in Risk Governors do not attend meetings Risk Governors become too involved in management of school Risk has no financial expertise Risk of playing passive role Risk to strategic objectives Risk of competition from some providers Risk of poor audits Risk grants are not used for purposes intended Risk to achievement of school s strategic objectives Risk of breaking financial regulations Risk of poor audit reports Risk quality of supplies compromised Risk to school s strategic objectives Failure to optimise opportunities Non-compliance with funding agency requirements Exposure to unnecessary risk Increased costs, eg insurance Independent Clerk to Governor training and induction Register of interests Head and Deputy profile of skills required Effective use of schools financial systems Performance monitoring reports Robust monitoring of creditors Monthly creditor accruals Monthly reports from the school Financial regulations awareness Internal controls operated by school BAC s payments used Effective internal and external audit Financial regulations awareness Internal controls. Risk strategy Risk register and action plans Risk management group reporting mechanism or Up to date 5

6 Risk 3 Compliance Risks Failure to comply with employee legislation Failure to comply with environmental legislation Failure to ensure: Academy legislation Financial reporting requirements Risks: Legislation/Equal Opps/Data Protection/Human rights/contract legislation/pension legislation/health & safety not known or complied with Risk that UK and EU legislation not known or complied with Litigation risk Risk not aware of obligations Risk requirements re VAT, PAE, NI, protection of data not known Support of External HR department Health & Safety Policy Fire Safety Policy Support from Health & Safety Officer Reporting to SMT and Support of outside agencies to regularly monitor environment Independent Clerk to Networking groups EFA updates School website Support of External HR/Budget Officer/Auditor or Med/l ow Continue to read all guidelines and changes in legislation Academy has been found fully compliant by EFA. Tax legislation complied with Fines Data protection systems complied with Failure to ensure school is compliant with: Welfare issues Requirements of school sector Requirements of Government and LA Fines by GDPR Risk: legislative requirements not known or complied with re Child Protection Act National Curriculum requirements Licensing Mental health Support of External HR department & policies and procedures Home School agreement DBS policy and compliance Child Protection Officer Reports to Independent Clerk/networking/Ofsted inspections/ meetings/school Improvement Partner/Internal external audits Maintain same level of scrutiny 6

7 Risk 4 Financial Risks Failure to ensure school maintains overall financial control in relation to budget Failure to ensure school maintains control in relation to reconciliations Failure to ensure financial systems of school are suitable Failure to ensure financial systems of school are maintained Failure to ensure than an adequate disaster recovery plan in place re financial systems Risk budget will be in deficit Risk actual financial performance not measured on regular basis Risk budget not prepared in accordance with DfE tiable Risk budget headings manipulated to ensure targets Risk bank account reconciliations not completed and reviewed Risk the financial system not suitable for school needs Risk that systems will not provide and SMT with up to date financial information Risk that financial decision will be made not in best interests of school Significant financial risk Risk that systems will not provide and SMT with up to date financial information Risk that financial decisions will be made not in best interests of school Significant financial risk Budget monitoring reports Month end and ear end tiable Financial regulations Internal controls Budget monitoring reports Internal and external audit Budget monitoring reports Awareness of financial regulations Support of Finance Committee of Internal and external audit 3 years financial forecasts Budget monitoring reports Awareness of financial regulations Support of Finance Committee of Internal and external audit 3 year financial forecasts or Continue with rigorous controls Continue to research EFA guidelines Regular scrutiny LOW 7

8 Risk 4 Financial Risks Failure to ensure financial systems are secure Failure to ensure income due to school collected and recorded accurately Restricted Income/donations/ sponsorship Failure to ensure that the expenditure of school is not controlled Failure to ensure school has robust set of Treasury procedures in place Failure to have robust fixed asset procedures Risk of unauthorised access to financial systems Risk of litigation Significant financial risk Risk that invoices not raised for all transactions Risk that donations or intangibles are not recorded or recognised in financial statements Risk sponsorship not delivered Risk to future funding Risk expenditure not authorised Risk that expenditure is allocated incorrectly between budget headings Risk that discounts or reductions not obtained Risk that expenditure not accounted incorrect period Risk that fraudulent invoices are submitted and payments made Risk cash flow requirements not recorded Risk that assets are not capitalised Risk that depreciation not appropriate Disaster recovery plan Security systems operated by school Off-site back up storage and systems to recover data in place Risk assessment policy Specialist legal advice Effective credit control Monthly performance monitoring reports Internal controls Robust financial policies and procedures Budget monitoring Awareness of financial regulations Effective internal and external audits Robust financial policies Financial regulations Robust financial policies Financial regulations or Continue rigorous scrutiny of complianc e Managem ent systems assure controls Med Continue with existing scrutiny 8

9 Risk 4 Financial Risks Failure to have robust system re stock control Failure to ensure policy in place relating to taxation Failure to ensure robust debtor procedure in place Failure to ensure funds are not monitored closely Failure of school to monitor performance of employee pension scheme Failure to make provision for contingent liability risk Risk that stock misappropriated Significant financial risk Risk that school is not aware of changes in legislation Risk debts not recovered Risk details of debt not accurate Risk that debtors not accounted for in correct period Risk that aged debts impact on cash flow Risk that funding levels are too low or too high Risk that funds are in deficit/surplus Risk of significant deficit of scheme Risk employee contribution increases significantly Risk school not making correct contribution Risk staff morale affected Risk provisions and commitments of pension liabilities not recognised Risk future commitments cannot be in future funding Robust financial policies Financial regulations Assetrac inventory system purchased Support from financial consultant Support of HR department and policies and procedures Monthly performance monitoring reports Internal controls Regular and timely reconciliations Robust financial policies and procedures operated Advice from Pension consultant Pension scheme performance External Audit Financial policies and procedures in place Financial regulations of school Internal and external audit Med/l ow or External auditors To continue to chase Joining MDC 9

10 REGISTER OF RISK ASSESSMENTS COMPLETED School/Service Unit Urbis Academy Trust T/A Mayville Primary School TEAM: Finance Ref No. Office Name of Hazard or Activity Assessed of Assessment Risk Level Med/High/V.High or Risk GENERIC OFFICE RISKS Review 1. Display screen equipment (DSE) SEPT 2017 LOW SEPT Falling persons/objects JUNE 2017 LOW JUNE Slips, trips & housekeeping JUNE 2017 MED JUNE Manual handling MA 2016 MED JUL Lighting, heating & ventilation OCT 2016 LOW OCT Electrical safety DEC 2013 LOW DEC Welfare facilities SEPT 2017 MED SEPT Condition of buildings/blazing NPS 3 TIMES PER EAR MED - 9. Machinery (PAT) DEC 2016 LOW DEC Winter readiness 29 SEPT 2017 LOW SEPT Lone working/out of hours work MA 2017 LOW MA Violence to staff JUNE 2017 LOW JUNE Fire Risk Assessment JUNE 2017 LOW JUNE Bad Weather Risk Assessment SEPT 2017 LOW SEPT 2018 SIGNED: NAME: DATE: Manager Head teacher/head of Service Lorraine Klein Ms C Russell September