Unit Heads are responsible for ensuring risk is managed, in consultation with the Risk and Insurance Services, within their respective Units. Unit Heads are responsible for identifying and evaluating risks within their Units. See Procedure for Administering Risk Registers. Unit Heads shall ensure that Risk Owners in their Unit understand their risk management responsibilities. 

Risk management shall be integrated early in the planning process for all activities and decisions within the Unit, in a manner appropriate to the nature and scope of the activity or decision, and using the list of Considerations as a guide. In making decisions, Unit Heads must ensure risks are managed within the established Risk Tolerance, such that positive outcomes outweigh any potential negative results. 

Considerations

− Has the established Risk Tolerance been considered?
− What Risk Controls best fit the situation?
− Is innovation encouraged?
− Has due diligence been exercised?
− Is legal and statutory compliance met, as a minimum standard?
− Is the safety of members of the University community enhanced?
− How is continuity of operations affected? or improved?
− Is effective governance of the University supported?
− Are efficiency and effectiveness of operations promoted?
− Is the reputation of the University protected?
− Are University assets protected?
− If the activity is of an International nature, are there jurisdictional or statutory compliance impacts?
− To what extent have objectives to which risks relate, been articulated and are they measureable?