At its 35th session in April 2018, HLCM agreed on the need for a joint, cross-functional engagement towards system-wide harmonization of risk management practices, including information sharing on fraudulent behaviors of implementing partners; assessments of risk appetite and risk tolerance; incorporating acceptance of residual risk in organizational policies; implementing smarter upstream controls; examining the costs of controls as compared to the value of the potential loss they are intended to mitigate; and, development of common definitions of risk categories to enable a common approach to reporting risks. As part of this work, the Committee requested the Finance and Budget Network to take the lead in developing a common approach to reporting fraud and presumptive fraud, as well as to review how risk analysis might be incorporated into the budgeting processes of UN system organizations.
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At its 35th session in April 2018, HLCM agreed on the need for a joint, cross-functional engagement towards system-wide harmonization of risk management practices, including information sharing on fraudulent behaviors of implementing partners; assessments of risk appetite and risk tolerance; incorporating acceptance of residual risk in organizational policies; implementing smarter upstream controls; examining the costs of controls as compared to the value of the potential loss they are intended to mitigate; and, development of common definitions of risk categories to enable a common approach to reporting risks. As part of this work, the Committee requested the Finance and Budget Network to take the lead in developing a common approach to reporting fraud and presumptive fraud, as well as to review how risk analysis might be incorporated into the budgeting processes of UN system organizations.
Guidelines on Risk Appetite Statements
Reference Maturity Model for Risk Management - Cover Note
RMM Annex II – (i) Usage guidelines
RMM Annex II - (ii) Summary Matrix
RMM Annex II - (iii) Evidence Checklist
RMM Annex III – Terms of Reference for Cross-Functional Task Force on Risk Management
Task Force Terms of Reference for 2020
Embedding Risk Management Paper
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