The Risk Management Team has been mandated to:
- Establish Key Elements;
- Prioritize Objectives (Reward Realization);
- Identify Threats and Opportunities;
- Separate and Reorganize Acceptable Risk;
- Establish set priorities in line with the risk mitigation programs designed to avoid HD Faculty™ from risk exposures;
- Develop sustainable capability through alliances with governmental and institutional entities that will increase confidence in HD Faculty™'s ability to fulfil its business objectives and purposes, on time, each and every time;
- Improve HD Faculty™'s execution plans through informed persons that understand the nature and extent of the respective risk and impact that it would have on HD Faculty™;
- Establish and maintain risk monitor gauges that will identify, quantify and demonstrate HD Faculty™'s understanding and its effectiveness in respect to risk mitigation and control;
- Provide the Board of Directors with demonstrated assurance about HD Faculty™'s risk management achievements pertaining to its goals, purposes and objectives;
- Establish, maintain and update its policies, procedural guidelines and information system regularly in respect to the:
- Objectives of the Risk Management Program;
- Identification and classification of risk factors;
- Prioritization of the risk factors;
- Assessment and evaluation of the respective risk;
- Quantifying of the risk in a concise format;
- Development and/or redevelopment of a risk mitigation and control system;
- Development and/or redevelopment of a risk monitoring and performance indication system; and
- Establishment and maintenance of a risk management system that enables HD Faculty™ and its clients to continuously improve the risk exposure through the exploitation of items (v), (vi), and (vii), above.