Why do you need an integrated GRC system ?
The DFE states that "Academy trusts are accountable for educational outcomes, financial management, safeguarding (including health and safety) and estate management in their trusts. The boards of trustees are responsible for risk management – particularly setting the parameters of the process and reviewing and considering the results.
Effective risk management underpins effective planning elsewhere like strategic finance. While they may choose to delegate the day-to-day management of some risks to staff or professional advisers, the trust’s involvement should be such that within the trustees’ annual report they can make the required risk management statement with confidence.
In particular "MATs are organisations responsible for running multiple schools. As such it is imperative that they give due concern to managing risk at both school and organisation level."
The DFE stress that "Increasingly boards need a more sophisticated understanding of financial, organisational and educational risk; its assessment and its minimisation – and this in turn highlights that increasingly the board must be strategic, that it must focus on priorities and that it must manage by exception"
GRC ONE™ helps you satisfy the DFE requirements for risk management with a software solution that
Visualises the relationship between the Risk and the Controls used to reduce them, providing proof to the DFE that you are managing your risks effectively
Identifies areas of weakness through real-time risk and controls registers, matrix’s, and online reporting
Notifies key people when risk levels or controls effectiveness changes allowing for management by exception
Highlights critical areas for improvement and strategic investment
Empowers the right people, holding to account and raising awareness through distribution of effort