Risk Management arrangements are in place for the efficient escalation of risks from across all areas and activities. This ensures that the Executive Management Team, ORE Catapult Board and key stakeholders are provided with the necessary assurance that risks are being managed appropriately, and they have the visibility required to take decisive action at the earliest opportunity.
The Board is ultimately responsible for risk management within ORE Catapult and to that end they receive risk reports detailing high level risks to the organisation for discussion at each Board meeting.
Each corporate risk is owned by a member of the Executive Team with the day-to-day management of the risk sitting with their direct reporting line. Regular meetings are held between Directorates and the Risk and Reporting function to ensure that all risks are being identified and managed appropriately. The Audit Committee must satisfy itself that the risk management system in place is adequate and effective; regular updates are provided to the Audit Committee on the Catapult’s current arrangements.