How we manage risks at Macmillan
We ask all our colleagues to be aware of the risks and opportunities in
everything they do: to assess the potential impact and likelihood of them
occurring and, where necessary, take mitigating actions to manage them.
Our risk management methodology is aligned with the ISO31000 framework and
follows the below process:
There continues to be significant change and uncertainty in the external
environment in which we operate. We recognise current and future challenges
including: major changes in government policy and health and social care
structures; major pressures on the NHS; the cost of living crisis and a decline
in public spending; the focus on sustainability and the changing philanthropic
landscape; the rise of AI and future technology; changing socio-demographics;
geo-politics; an uncertain economic outlook; and a competitive charitable
sector. To counteract this, we recognise Macmillan's need to be adaptive,
resilient and forward-looking, remaining agile by monitoring and adjusting
our focus as needed.
Macmillan continues to evolve its vision to best support people living with
cancer both now and into the future. Against an external landscape of
continuing pressures on our donors' finances, we are continuously looking for
new and more efficient ways to operate and deliver our services. To do this,
we are listening to and gaining insight from people living with cancer, improving
how we work with partner organisations, our volunteers and colleagues,
and enhancing our technological support. Meanwhile, changes in regulation,
particularly regarding data protection, require investment and changes to
policies and procedures. Financially, we continue to review the level of
liquidity we need to safely sustain our operations, so we can deploy as much
as possible towards having long-lasting impact for as many people living
with cancer as possible.
Risks are scored in a consistent manner on the impact they would have and how
likely they are to happen, using a five by five scoring matrix. Each risk has an
identified owner, and all corporate risks are reviewed by our Risk Board, and
at the Finance, Audit and Risk Committee of the main Board of Trustees.
Context & Strategic Objectives
Monitoring & Review
Risk
Identification
Risk
Assessment
Risk Treatment
(Risk Response)
Residual Risk
Reporting
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Environmental, social
and governance review
Financial review
Strategic report
Overview Financial statements Thank you