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Risk Management

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Universiti Malaya (UM) recognizes the implementation of risk management through this Risk Management Policies and Guidelines. This policy is a testament to the University's commitment in ensuring the utmost productivity, in compliance with the goverment's efforts of reaching international risk management standards.

To realize this goal, the University is very committed to :

  1. Make risk management practices as a culture in governance to achieve the objectives of the University.
  2. Ensure the implementation of systematic, transparent and consistent risk management.
  3. Provide continuous resources and training programmes to ensure that the level of awareness, knowledge and competence of staff is always at the best level.
  4. Ensure strategic decisions are made based on risk assessment reports.
  5. Ensure compliance with existing acts/ policies/ guidelines and legislation.
  6. Prepare the University to address any uncertainties for the sake of continuity of governance.

All stakeholders will work together to ensure that the overall goals outlined can be implemented successfully.

 

The latest Universiti Malaya Risk Management Policies and Guidelines were approved by LPU on 14th January 2021.

Managing risk is a shared responsibility that involves all levels of administration. Therefore, risk management should be incorporated into the University's management policies and guidelines so that continuous improvements can be made to the process of decision-making.

The following are the University's risk management objectives :

  1. As a consistent and systematic general guideline in the management of risk for implementation at all levels of administration.
  2. Assign roles and responsibilities to all levels of administration in the implementation of risk management.
  3. Improve the process of decision-making at all levels of administration so that it is able to meet its strategic objectives set in the University's Strategic Planning Plan and key performance indicators (KPIs).
  4. Encourage proactive management in identifying and handling risks at the early stage.
  5. Improve management performance by complying with relevant laws at all levels of University administration.
  6. Create an environment that is appropriate with risk to protect the University's reputation.

Risk is something that is present in all activities regardless of whether it is in business, health or education. The principles of sound risk management must be part of the routine management activities in the governance of an organization.

Risk comprises threats (destructive events) that can lead to failure in achieving objectives. Opportunity (challenge), if exploited will be able to offer a better way to achieve a desired goal even if it risks giving a negative impact.

In line with that, the scope of the University's risk management will focus on the risks of each work process or activity that can hinder the University in achieving the vision, mission, strategic planning and key performance indicators (KPIs) that have been set.

The University also believes that all types of risks including strategic risks, operations, finance, reputation, projects, security/health/environment, information security, corruption, compliance with laws/acts/policies and others that are related are the types of risks that need to be considered in the implementation of risk management at the University.

The University Risk Management Framework fully adapts to the ISO 31000 standard framework: "Risk Management - Principles and guidelines for implementation".

Figure below shows the structure of the University risk management framework.

The University Risk Management Committee (JKPR)

YBhg. Dato' Ahmad Nazim Abd Rahman

Chairman

YBhg. Dato' Prof. Ir. Dr. Mohd Hamdi Abd Shukor

Committee Member

Mr. Danesh Raj Nagarajan

Committee Member

Mr. Hoe Kah Soon

Committee Member

Mdm. Maheswari Kanniah

 

Committee Member

YBrs. Prof. Dr. Yahaya Ahmad

Committee Member

Mdm. Noni Salmina Abu

 

Committee Member

Mr. Wan Mohd Sofi Wan Mustapha

Committee Member

Mdm. Salwati Mohd Aris

 

Committee Member

Function/Roles

  1. Monitor the University Risk Management Policies and Guidelines in order to identify and monitor significant risks :
    1. Study, review and recommend the University Risk Management Policies and Guidelines which include policies, risk appetite, framework and key guidelines for LPU approval.
    2. Propose strategies and follow-up actions for the University’s risk management.
  2. Monitor the effectiveness of the University’s process to ensure compliance with established University Risk Management Policies and Guidelines and any applicable laws, regulations, and organizational standards.
  3. Study the effectiveness, impact and direction of the implementation of the University's risk management, as well as implementing continuous quality improvement (CQI).
  4. Report and advise LPU on the status of the implementation of risk management which include :
    1. Risk management report from the Committee on the University's key risks.
    2. Report on the development of the implementation of the University's risk management.
    3. Advise the Board on any expected risks that may affect the reputation and operations of the University.
  5. Review risk analysis reports for relevant working papers, specifically, those involving key strategic decisions that require the approval of the University Board of Directors.
  6. The Committee will ensure that all proceedings including decisions made by it are recorded and kept.

Last Update: 24/11/2022