University risks will be monitored on an on-going basis at the respective Budget Centre level.
This means that Whole of University and Strategic risks will remain centralised and oversight will remain with the Finance, Audit and Risk Committee.
Management-level risks and operational risks are decentralised and should be managed by their respective area owners.
Organisational-wide risk reporting processes will be established through existing management and governance structures to challenge risk profiles and integrity of the risk management process.
The University Council, through the Finance, Audit and Risk Committee, will monitor and evaluate the University's performance in relation to risk management.
This will be informed by an annual assessment covering items such as (but not limited to) as endorsed by the Finance, Audit and Risk Committee: