Step

Communications & Consultation

Responsible Party

Risk Owner

Template/Guideline

Explanatory Notes

Include key stakeholders in risk identification and risk analysis process. Communicate UNDP risk profile to EG through annual reporting cycle.

Step

Scope, context and criteria

Responsible Party

Risk Committee

Template/Guideline

Explanatory Notes

Step

Risk Assessment:

Identification of Risks

Risk Analysis

Evaluation of Risk

Responsible Party

Risk Committee

Template/Guideline

Explanatory Notes

Identify major risks (both threats & opportunities) at corporate level affecting UNDP, twice a year at a minimum.

Review and analyze the overall UNDP risk profile and present to Risk Committee.

Evaluate each risk in the Corporate Risk Register to define the risks that require priority treatment based on UNDP’s risk acceptance in order to meet its objectives in the SP and avoid harm.
 

Step

Risk Treatment

Responsible Party

Risk Committee

Template/Guideline

Explanatory Notes

Escalate the risks from HQ units & all Bureaux for Risk Committee consideration to make decisions on escalated corporate risks (prioritize them and specific actions to be taken).
 

Step

Risk Monitoring & Review

Responsible Party

Risk Owner

Template/Guideline

Explanatory Notes

Document the decisions taken by Risk Committee in the Corporate Risk Log, and monitor and update it regularly.
 

Step

Risk Recording and Reporting

Responsible Party

Risk Committee

Template/Guideline

Explanatory Notes

Records Risks in the ERM risk Register and Report the overall risk profile of UNDP; Prepare a bi-annual report to the EG, based on a strategic analysis of UNDP's overall risk landscape.