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Risk Management

Effective risk management assists the achievement of objectives, maximises the quality and efficiency of an organisation and upholds its reputation.

It can also help identify strengths, weaknesses and opportunities in the day to day and longer term business of an organisation.

Risk management is the process of:

  •  Identifying risks to achieving aims and objectives.
  •  Evaluating the potential consequence of these risks.
  •  Determining and implementing appropriate controls against risks.
  •  Considering the most effective ways to monitor and mitigate against risks.

Definition of Risk

For the Police and Crime Commissioner, a risk is the outcome of an event, which if caused would:

  • Affect the Commissioner’s ability to meet its vision and objectives, either in the short or long term.
  •  Result in financial liabilities.
  •  Damage the Commissioner’s or Force’s reputation.
  •  Reduce confidence in the policing of South Wales.

The Risk Register is continually updated and is regularly submitted to the Joint Audit Committee.

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