Additional pervasive feedback and assurance controls
We have complaints and grievance procedures and an anonymous
whistleblowing hotline to enable appropriate reporting and consideration of
internal and external stakeholders' concerns, along with individual comments
on how we can improve. An annual internal audit programme tests the existence
and effectiveness of key controls.
Continuous improvement
We are always striving to be better at what we do, including continuing to
evolve our approach to managing risks. As a result, in 2023 we reassessed
Macmillan's risk appetite position, increased the seniority of the organisational
Risk Lead to develop our risk culture and further developed oversight and
challenge capability of the Risk function.
Additionally, we made a number of improvements to our risk reporting
processes up to our Finance, Audit & Risk Committee, rolled out organisationwide
risk management training available to all for education and awareness,
worked on developing an organisational risk appetite position to facilitate
improved risk-based decision-making, and strengthened organisational
resilience through our Business Continuity Planning effectiveness and scenario
planning work. We are also introducing a new risk management information
system to streamline risk management processes and provide holistic oversight
of Macmillan's overall risk profile as well as better accountability and ownership
of risks and risk management processes.
In 2024, our continuous improvement objectives centre around three key
themes which link to the findings of the risk management review: risk appetite,
risk culture and risk maturity.
Risk Appetite
• We will develop our risk appetite position for clarity,
consistency and alignment of decision-making and
improved opportunity taking prospects, and aim
to embed this, supported by policy and
appropriate governance.
• We will design an operational tool to aid practical
application across the organisation.
Risk Culture
• We will baseline the risk culture of the organisation as
a means to measure improvement against which to
benchmark success.
• We will look to improve our baseline position through
a programme of education, awareness and training.
• We will report on risk culture improvement on an
annual basis.
Risk Maturity
• We will develop a strategic risk assessment and
work to ensure this narrative is considered in key
conversations and integrated into decision-making.
• We will seek ways to share learnings and work more
collaboratively with our peers.
• We will look to push for better strategic alignment of
risk with our internal audit and insurance programmes.
• We plan to redesign the structure of the risk team to
better serve our objectives.
It is our ambition to raise our function towards best practice in the sector.
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Environmental, social
and governance review
Financial review
Strategic report
Overview Financial statements Thank you