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Manage Finance Essay

2420 words - 10 pages

Contents
1. INTRODUCTION 2
2. SCOPE 2
3. OBJECTIVES 2
4. RESPONSIBILITIES 3
4.1 Board of Management 3
4.2 Chief Executive Officer 4
4.3 Staff & SMC Members 4
4.4 Everyone 5
5. RISK MANAGEMENT PROCESS 5
5.1 Context 5
5.2 Identifying Risks 5
5.3 Analyzing Risks 7
5.4 Evaluating Risks 10
5.5 Treating Risks 11
6. MONITORING AND REVIEW 13
6.1 Procedure 13
6.2 Risk Closure 13
7. COMMUNICATION AND CONSULTATION 13
8. SUMMARY OF RECOMMENDATIONS 14
9. CONCLUSION 16

1. INTRODUCTION
The 24/7 Fitness has changed rapidly in recent years, so to have the environment in which sport operates. There are now many opportunities for business and employment, as ...view middle of the document...

RESPONSIBILITIES
All employees, volunteers and members are responsible for ensuring that risks to themselves, to others, to the Association and to the 24/7 Fitness, are minimized. The Board of Management however, has the ultimate responsibility for successful risk management with the General Manager taking day-to-day responsibility for the process. The specific responsibilities of all parties involved in Australia Risk Management program, are detailed below: -
4.1 Board of Management
• Ensure that the policy is communicated to all levels, via distribution of the Association’s Risk Management Policy Statement. Gymnastics Tooronga road Victoria 3146 [Australia]: Risk Management Plan
• Ensure Risk Management practices, in-line with Australia Risk Management plan, are implemented at all levels.
• Ensure that appropriate training is provided, so that risk is actively minimized
• Provide appropriate resources to ensure that risk is minimized throughout the Association.
• Ensure that risk management is an intrinsic part of deliberations and those decisions are made pursuant to this policy.
• Regularly monitor, review and analyze risk management activities to ensure progress and achievement of desired outcomes.
• Annually report the progress made within risk management and on any future risks that may threaten any aspect of the Association’s business
4.2 Chief Executive Officer
• Ensure that all departments of the Association have the opportunity to engage in risk assessment and treatment processes, in-line with this plan
• Actively encourage reporting of risk, real or potential, and ensure that appropriate action is taken to minimize such risk
• Ensure that, when implementing risk management actions adhere to existing Association polices.
• Take day-to-day responsibility for risk management within the Association Office
• Ensure advice and support on risk management can be provided to Affiliate members
• Ensure appropriate and up-to-date documentation of risk identification and treatment
• Provide appropriate induction on risk management and all other associated policies to new Board members, staff and SMC members
• Alert the Board of any new high-impact risks, or any other matters requiring attention outside the usual process
4.3 Staff & SMC Members
• Distribute information on risk management throughout existing networks, as required
• Adopt and implement appropriate risk management behavior in all aspects of work
• Report risk, real or potential, and ensure appropriate action is taken to minimize the risk
• Ensure documentation of risk identification and treatment, for the work area, is appropriate and up to date.
4.4 Everyone
Successful risk management also relies on the personal knowledge, perception and behavior of all involved in the 24/7 Fitness.
5. RISK MANAGEMENT PROCESS
Introduction In-line with Indian standards, the Delhi approach to risk management requires five key...

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