Risk Management and Strategic Planning Workshop: Toronto November 2019

Oct 08, 2019

ISP CLOUD- Prevent, Manage, Minimize Risks

ISP Cloud as a one-stop portal that connects all providers, including health insurance and homestay providers, agents, it helps educational institutions in Canada and worldwide to protect its students and implicitly the school throughout the entire process beginning from the student registration until student graduation by ensuring real-time acknowledgment and management of any situations related to the students, teachers, school that might lead to potential risks.

Why Risk Management in Schools is Important

Educational institutions face risks that threaten the successful delivery of their objectives to teach and protect their students. What’s important is to have a strong strategic school risk management program in place to help identify and address those risks.

Risk management within schools is a rather complex concept, which is comprised of several functions. It is the process of managing the uncertainty of exposures that affect a school’s assets and financial statements using the five steps: identification, analysis, control, financing, and administration.

The most important part of risk management within schools is risk identification. Whether risks are human or are related to property or liability, they must be identified first. Why? Exposure and/or risk must be identified before it can be effectively analyzed, controlled, or financed.

Who Manages Risk in Schools?

So, who is ultimately responsible for effective risk management within a school? The answer is becoming more and more elusive as job functions change daily to accommodate the doing-more-with-less funding attitudes and issues from province to province. The most obvious answers are the safety coordinator, financial department and human resources area. The true answer is, everyone. A team of people should always be responsible and accountable to a set of specific risk management policies and procedures. All department heads — food service, custodial, maintenance, and operations, instructional — need to be in the loop and should be managers of risk in a school. The risk management function can be assumed by people regardless of the size and needs of the school. Even if your school has a dedicated risk manager, he or she should rely on many internal and external people and resources to effectively manage the school’s daily risks.

Risk Comes in Many Shapes and Sizes

It is easy to identify certain risks such as the slippery bathroom floor on the junior high campus. Others are not so easy to find. It is important to classify your risks and document them so they can be constantly evaluated and the changes monitored. Logical classifications of risk include financial/budgetary risks, human resources risks, property risks, and liability risks. For the non-risk manager types, this needs to be a very thought-provoking experience. Every single activity that happens within a school creates risk.

ISP CLOUD- A Way To Ensure Your Students and School Are Protected From Any Potential Risks