Page 76 - DUT Annual Report 2024

REPORT ON
RISK EXPOSURE ASSESSMENT AND MANAGEMENT
Risk Governance Architecture
The University has a Risk Committee that serves as the centre of expertise which Council refers to on matters pertaining to enterprise risk management (ERM). Deriving its authority from a Council-approved Charter, this Committee is chaired by an external member who also serves at Council. Members of the Committee constitute a broad set of skills and competencies as well as a good mix of industry experience.
Convening on a quarterly basis to review risk reports that are coordinated by the ERM team, the Risk Committee’s deliberations focus on both financial and operational risks, at both the strategic and Executive Portfolio levels. Depicted below is an illustration of how much progress was made at a strategic level in terms of mitigating risks, taking into account that strategic risks are by nature sticky or not as responsive from a residual-ranking viewpoint.
The Chief Risk Officer, who has a dual reporting role – to both the Vice Chancellor and the DVC: People & Operations – also has access to the Chairperson of the Risk Committee. They engage, for instance, with regard to formulation of each meeting’s agenda.
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DUT ANNUAL REPORT 2024