Risk Management Policy

1. PURPOSE

This policy sets out the approach to identifying, assessing, and managing risks that could affect the operations, reputation, or compliance of WOXPAF and OFSDMT.

2. SCOPE

This policy applies to all activities undertaken by WOXPAF and OFSDMT, including governance, finance, safeguarding, events, and partnerships.

3. RESPONSIBILITIES

• Trustees: Responsible for overall risk oversight and ensuring appropriate mitigation strategies are in place.
• Chair: Leads operational risk management and reports to the board.
• Volunteers/Staff: Must report any identified risks or incidents promptly.

4. RISK CATEGORIES

• Strategic: Risks affecting the charity’s mission or long-term goals.
• Operational: Risks related to event delivery, staffing, or logistics.
• Financial: Risks of fraud, loss, or mismanagement of funds.
• Reputational: Risks that could damage public trust or stakeholder relationships.
• Compliance: Risks of breaching legal or regulatory obligations.
• Safeguarding: Risks to the welfare of children, young people, or vulnerable adults.

5. RISK ASSESSMENT PROCESS

1. Risks are identified through trustee meetings, event planning, and feedback.
2. Each risk is assessed for likelihood and impact.
3. Mitigation measures are documented in a Risk Register.
4. The Risk Register is reviewed quarterly and updated as needed.

6. RISK MITIGATION STRATEGIES

• Clear policies and procedures (e.g. safeguarding, financial controls).
• Insurance coverage for public liability, equipment, and events.
• Training for volunteers and staff.
• Contingency planning for key events and activities.

7. INCIDENT REPORTING

• All incidents or near misses must be reported to the Chair.
• Serious incidents must be escalated to the board and, where required, to the Charity Commission.

9. RISK APPETITE

WOXPAF and OFSDMT maintain a cautious risk appetite, prioritising safety, compliance, and reputation over aggressive growth or innovation.

10. RISK SCORING MATRIX

Risks will be assessed using a standard scoring matrix evaluating likelihood and impact on a scale of 1 to 5. See below.

11. COMMUNICATION PLAN

Risk-related information will be communicated through trustee meetings, staff briefings, and stakeholder updates. Urgent risks will be escalated immediately.

12. EMERGING RISKS

Trustees will monitor emerging risks such as cyber threats, climate-related disruptions, and evolving legal requirements. These will be added to the Risk Register as needed.

8. POLICY REVIEW

This policy and the Risk Register will be reviewed annually by the trustees and updated to reflect emerging risks or changes in operations.

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