Annual Risk Assessment

1. Introduction

This section provides an overview of the risk assessment process and its importance in identifying potential risks that could impact the organization.

2. Objectives

Clearly outline the objectives of the risk assessment, such as: Identify potential risks Evaluate the impact of risks Develop mitigation strategies

3. Risk Identification

List potential risks that may affect the organization, categorized by: Operational Risks Financial Risks Compliance Risks Reputational Risks

4. Risk Analysis

Analyze the identified risks based on: Likelihood of occurrence Potential impact

5. Risk Evaluation

Evaluate the risks to prioritize them based on their severity and likelihood, using a risk matrix.

6. Risk Mitigation Strategies

Develop strategies to mitigate the identified risks, including: Risk avoidance Risk reduction Risk transfer Risk acceptance

7. Monitoring and Review

Outline the process for monitoring risks and reviewing the risk assessment regularly to ensure its effectiveness.

8. Conclusion

Summarize the key findings and the importance of ongoing risk management.