The Diocese of Worcester Multi Academy Trust Board views risk management as an integral part of good corporate governance.

Risk is defined as something, currently unknown, that might have a detrimental impact on the achievement of the Trust’s objectives. Risk and Opportunity Management is defined as encouraging innovation through a managed process; ensuring tangible and intangible assets are safeguarded.

The DoWMAT’s approach to risk management aims to;

• Identify and evaluate risks which could prevent the Trust from achieving one or more of its strategic aims, objectives or delivery targets, or make their achievement substantially more difficult.
• Assess the likelihood of such risks occurring (high, medium, low) and the potential impact of such occurrences with particular reference to the areas of finance, reputation and planning/operations.
• Enable decisions to be taken on how much risk to accept, the actions/controls applied to avoid or mitigate the likelihood of such circumstances arising, to transfer risk or insure against the consequences and assign responsibility for implementation.