As the national sport organization that governs ringette throughout Canada, Ringette Canada is committed to managing risks to the organization by ensuring its decisions and actions reflect established standards and the organization’s values.
The purpose of this policy is to provide a guiding statement on how risk management is to be performed within Ringette Canada. In general, we view risk management as a comprehensive approach to improving organizational performance. The Risk Management Policy links directly with Ringette Canada’s Risk Registry. This policy has other purposes as well, namely:
Ultimately, successful risk management has the following benefits for Ringette Canada:
The Executive Director is the designated Risk Manager for Ringette Canada, and is responsible for the overall implementation, maintenance and communication of this policy. The Executive Director, or their designate, works with the required staff and volunteers to ensure that risks are managed according to this policy.
The Board is responsible for ensuring that the implementation of Ringette Canada’s risk management framework is continuous and relevant, through the ongoing monitoring and review of Ringette Canada’s high-level risks, and the oversight of the Risk Manager.
Risk: The effect of uncertainty on achieving desired outcomes
Risk Management: An integrated, documented and system-wide process used to identify, assess and treat risks so as to better achieve desired outcomes and reflect the organization’s values
Significance of a risk: The combined ranking of the possibility of a risk occurring and the consequence should it occur.
Possibility (P)
Unlikely – less likely to happen than not; occurs every 5 years
Possible – just as likely to happen as not; occurs once every year
Probable – more likely to happen than not; occurs once a month
Almost certain – sure to happen; occurs once a week
Consequence(C)
Minor – will have an impact on the achievement of the objective that can be dealt with through small internal adjustments
Moderate – will have an impact on of the achievement of the objective that will require changes to strategy or program delivery that may require a delay or increase in cost
Serious – will significantly impact the achievement of the objective and require additional time, resources, costs, and thought
Catastrophic – will have a debilitating impact on the achievement of the objective; staff and board need to devote full-time resources to managing the situation
Risk Management Principles: The International Standard Organization (ISO 31000:2009E) principles relating to Risk Management are as follows:
✔ Creates and protects value
✔ An integral part of all organizational processes
✔ Part of decision making
✔ Explicitly addresses uncertainty
✔ Systematic, structures and timely
✔ Based on the best available information
✔ Tailored
✔ Considers human and cultural factors into account
✔ Transparent and inclusive
✔ Dynamic, iterative and responsive to change
✔ Facilitates continual improvement of the organization
Categories of risks: Risks arise from a number of categories of Ringette Canada’s operations. Ringette Canada has determined that the following categories will be used when identifying risks:
✔ People and Programs Risks
Risks related to key operational and programming areas across the organization; risks affecting the evolution of coaching, officiating and athlete development; management of human resources, including staff and volunteers; organizational capacity to meet member and stakeholder expectations and deliver on identified commitments; risk related to strategic planning; event and competition management; planning so as to remain vital and relevant to our members; the inherent physical risks of our sport; travel related risks, including medical and safety protocols; interpersonal related risks that escalate needlessly from interpersonal tension to unnecessary conflict.
✔ Compliance Risks
Risks related to failure to comply with existing laws and regulations governing: employment standards; privacy; workplace safety; new corporations’ legislation; tenant legal responsibilities; RCAAA charitable status; anti-doping policies; Sport Canada/OTP/other agency standards for funding and accountability; fulfillment of contractual obligations; Universal Code of Conduct to Prevent and Address Maltreatment in Sport (UCCMS); safe sport requirements; pandemic related requirements; increased insurance requirements.
✔ Communication Risks
Risks related to internal and external communications; information management systems; crisis and issues management; system hacking and data security; media relations; management of intellectual property; social media opportunities and pitfalls; maintaining confidentiality.
✔ Reputation Risks
Risks resulting from damages to an organization’s reputation due to lost revenue; lowered trust levels which harm relationships with stakeholders; lowered participant satisfaction; negative perceptions which erode trust; increased operating, capital or regulatory costs; destruction of member value, consequent to an adverse or potentially criminal event even if the organization is not found guilty.
✔ External Risks
Risks that are not in direct control of the organization including funding frameworks from Performance Partners (OTP, COC, CPC, Sport Canada and other agencies); relations with governments, games organizations and international federations; involvement in other sport partnerships; hosting decisions and requirements; changing political priorities; trends in the industry related to public safety, health and travel requirements.
✔ Governance Risks
Risks related to clarity of roles and responsibilities; decision-making and oversight; organizational structure and performance; management of disputes and conflict of interest; planning for diversity and succession of the Board and committees; lack of monitoring and evaluation of progress; lack of training and education of Board members; lack of retention of corporate knowledge; staying current with trends; lack of strategic planning; Board interference.
✔ Financial Risks
Risks related to financial monitoring and reporting; lack of flexibility to control and direct funds; sponsorship attraction and retention; over dependence on performance partners; investment and management of reserve funds; protection of revenue streams; long-term financial sustainability.
Ringette Canada makes the following commitments:
Ringette Canada acknowledges that risk management is a broad activity and a shared responsibility. All Directors, officers, staff, and volunteers have an ongoing responsibility to take appropriate measures within their scope of authority and responsibility to identify, assess, manage and communicate risks to those that they report to including but not limited to, the Risk Manager.
The Risk Management Policy is linked to Ringette Canada’s Risk Registry. The Risk Registry is reviewed by the Board once a year formally and items are added to it as necessary and removed as they are treated.
The Board has determined the following tolerance levels for the organization. These tolerance levels will be reviewed annually.
Risk Assessment |
CONSEQUENCE |
||||
Minor |
Moderate |
Serious |
Catastrophic |
||
P |
Almost Certain |
Medium |
Medium |
Very High |
Very High |
O |
|||||
S |
|||||
S |
Probable |
Medium |
Medium |
High |
Very High |
I |
|||||
B |
|||||
Possible |
Low |
Low |
High |
Very High |
|
I |
|||||
L |
|||||
I |
Unlikely |
Low |
Low |
Medium |
High |
T |
|||||
Y |
Managing risks involves three steps:
Ringette Canada commits to the following:
All risks faced by Ringette Canada can be addressed by one or more of the following four general strategies:
✔ Retain the risk – no further action is taken because the possibility and consequence of the risk is low. It may also be that the risk is inherent in the activity itself and thus can be accepted in its present form.
✔ Reduce the risk – steps are taken to reduce the possibility of the risk, and/or its potential consequences, through efforts such as improved planning, policies, delivery, supervision, monitoring or education.
✔ Transfer the risk – accept the level of risk but transfer some or all of it to others through the use of insurance, waiver of liability agreements or other business contracts.
✔ Avoid the risk – eliminate the risk by avoiding the activity giving rise to the risk – in other words, simply decide NOT to do something, or to eliminate some activity or initiative.
The above general strategies translate into a variety of risk control measures, which for Ringette Canada may include (but are not limited to):
To ensure that risk management remains a high priority within Ringette Canada, and to promote an organizational culture that embraces a risk management perspective, risk management will be a standing item on the agenda of every regular Board meeting, so that the Executive Director and Board Members can provide updates as required. Ringette Canada recognizes that communication is an essential part of risk management. This Policy and our Risk Management Process will be communicated to Staff, Board of Directors, Committees and volunteers and we will encourage all stakeholders to communicate to Ringette Canada their risk management issues and concerns. Specifically, the following steps will be taken to ensure a risk aware culture is being fostered:
✔ Staff reviews Ringette Canada’s risk registry on a quarterly basis or as a risk arises;
✔ Staff provide updates on matters of risk to the Board at every Board meeting (standing item on the Board agenda);
✔ If changes or additional updates to the Risk Management Policy are needed during the year, Staff will bring forward to the Board for discussion and approval;
✔ The Board annually reviews and updates the Risk Registry and the Risk Management Policy to determine if any additional high to very high level risks need to be added and to confirm the organization’s risk tolerance profile.
Ringette Canada maintains a comprehensive insurance program that provides General Liability, Accident coverage, Directors and Officers and Errors and Omissions coverage to the Directors, officers, staff, members, volunteers and sponsors of Ringette Canada. Upon annual renewal of this policy, Ringette Canada consults with the insurance provider to determine if there are any emerging gaps, issues or deficiencies to be addressed through insurance renewal. Not all risks are insurable; however, as part of its commitment to risk management, Ringette Canada will take all reasonable steps to ensure that insurance coverage is available for those activities essential to the mission of Ringette Canada.
This Policy is subject to review at least once every year
Date of last review: March 2022
The publication of Ringette Canada policies will be in the English and French languages. In the case of conflicting interpretations, the English version will prevail.