The Board or COM of a SSO is responsible for overseeing the establishment and implementation of risk management systems by the State Sporting Organisation (SSO) or State Sporting Organisation for people with Disability (SSOD). They are also responsible for reviewing the on-going effectiveness of these systems.
The role of the Board or COM in relation to risk includes:
- overseeing the creation, implementation and maintenance of the risk management system of the SSO;
- establishing a risk profile for the SSO setting out both financial and non-financial material and/or strategic risks facing the SSO;
- reviewing the effectiveness of the SSO’s implementation of its risk management systems on an on-going basis;
- seeking to reach a common understanding with management (whether paid or volunteer) and auditors about key financial and regulatory risks and related controls including focusing on the “key” risks which are considered to be currently, or may in the future be, more significant or more likely to occur;
- analysing the effectiveness of the SSO’s risk management and the effectiveness of their implementation;
- developing an understanding of the overall business environment, laws and codes which are relevant to the SSO and the programmes that the SSO has in place to provide reasonable assurance of compliance;
- reviewing the SSO’s occupational health and safety policies and ensuring regular reporting to the Board or on issues related to occupational health and safety;
- reviewing insurance coverage and claims trends;
- assess, monitor and manage the operational, financial reporting and compliance;
- provision of the necessary tools and resources to identify and manage risks;
- review of risks on an annual basis, including identification of new risks, changes to existing risks and retirement of previously identified risks (through a formal decision-making process);
- regular reporting of the status of risks;
- appraisal of actions taken to manage risk and correction of inappropriate performance;
- internal compliance and control systems for the implementation of the risk management plan;
- consideration of non-financial audits; and
- compliance with regulatory requirements and best practice.
Managing the risks associated with the SSO and the sport will encourage more people to join because of the fact the environment is safe.
As with any legal documents, this does not replace obtaining legal advice on each sport’s specific requirements and it is recommended you do so.
The information provided is for your information only. The authors and the NSW Office of Sport accept no responsibility for the accuracy of the information or your reliance upon it.