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TO: |
Board of Trustees |
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THROUGH: |
Jay Fox, Executive Director |
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FROM: |
Alisha Garrett, Chief, Enterprise Strategy Office |
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PRESENTER(S): |
Christie Giles, Risk Management Administrator |
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TITLE:
title
2023 Agency Risk Assessment Results
end
AGENDA ITEM TYPE:
Discussion
RECOMMENDATION:
Informational item for discussion. Please provide feedback regarding the risk assessment process and results for integration into leadership decision-making.
BACKGROUND:
UTA conducted an Agency Risk Assessment in the fall of 2023. This is the third consecutive year a risk assessment has been conducted. 357 leaders with at least one direct report were invited to participate, with an 87% response rate.
DISCUSSION:
1. During 2023, the Risk Assessment process was enhanced to include new: 1) risk matrix; 2) qualitative risk level definitions; 3) risk taxonomy; 4) risk appetite; and 5) risk profile.
2. Top risks have been identified for Level 1, 2, and 3 Risks.
3. Robust next steps are identified to strengthen risk culture and management at UTA.
ALTERNATIVES:
Require changes/improvements to risk assessment processes and reporting.
FISCAL IMPACT:
Fiscal impact will be determined as risk mitigation efforts are considered and integrated into the 2025 budget process.
ATTACHMENTS:
None