• Shaheed Mukhdoom Bilawal Society, Karachi, Pakistan
  • +92 301 7455545 | +92 321 5469244
  • Shaheed Mukhdoom Bilawal Society, Karachi, Pakistan
  • +92 301 7455545 | +92 321 5469244

Risk Management Policy

RISK MANAGEMENT POLICY

RECOMMENDED BY BODINTERNATIONAL PEACE COMMITTEE FOR INTERFAITH HARMONY

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For interpretation of this policy, please contact the responsible team Of

Purpose

The purpose of this policy is to address unanticipated and unintended losses to INTERNATIONAL PEACE COMMITTEE FOR INTERFAITH HARMONY’s human resources, financial assets, and property without unnecessarily limiting the activities that advance the INTERNATIONAL PEACE COMMITTEE FOR INTERFAITH HARMONY’s mission and goals.

This policy is issued pursuant to INTERNATIONAL PEACE COMMITTEE FOR INTERFAITH HARMONY Executive Order 09, Technical Letter, and other risk-related guidance issued by the INTERNATIONAL PEACE COMMITTEE FOR INTERFAITH HARMONY.

Background

Risk management has been practiced at INTERNATIONAL PEACE COMMITTEE FOR INTERFAITH HARMONY for many years, with the first Risk Management Policy introduced and adopted in 2014.

Risk potential is assessed, managed and mitigated primarily by several working areas including Risk Management, Environmental Health and Safety, Emergency Management, Business Continuity, Procurement & Contract Services, Human Resources and University Police.

Through the adoption of this policy, INTERNATIONAL PEACE COMMITTEE FOR INTERFAITH HARMONY recognizes risk management as a function that encourages the participation, cooperation and involvement of the entire campus community.

Policy Overview

The INTERNATIONAL PEACE COMMITTEE FOR INTERFAITH HARMONY team, as designated by the INTERNATIONAL PEACE COMMITTEE FOR INTERFAITH HARMONY MD/CHAIRMAN, will assist campus administrators in maintaining risk management policies and practices. The Risk Manager shall consult with  INTERNATIONAL PEACE COMMITTEE FOR INTERFAITH HARMONY, the INTERNATIONAL PEACE COMMITTEE FOR INTERFAITH HARMONY Office of Risk Management, the INTERNATIONAL PEACE COMMITTEE FOR INTERFAITH HARMONY Risk Management Authority (INTERNATIONAL PEACE COMMITTEE FOR INTERFAITH HARMONY working team), and the  Office of Insurance and Risk Management Policy to carry out this policy.

 

  1. Guidelines

Guideline documents issued by the INTERNATIONAL PEACE COMMITTEE FOR INTERFAITH HARMONY Office of Risk Management and INTERNATIONAL PEACE COMMITTEE FOR INTERFAITH HARMONY team shall be followed by the INTERNATIONAL PEACE COMMITTEE FOR INTERFAITH HARMONY office. The Risk Committee will assist in sharing documents, requirements, and guidelines with appropriate campus administrators and will assist with monitoring and implementing risk management policies and activities.

  1. Risk Control

Processes and procedures are already in place to assist the  office in minimizing exposure to risk, including: transferring risk through third party waivers, hold harmless agreements and vendor contracting; transferring risk through personal liability, health, travel and life insurance; preventing/controlling risk through training and supervision; and by analyzing the risk in a manner that considers the whole campus organization and not just its individual components.

  1. Review/Assessment of Risk

As required by RM 2014-05, the following areas will be regularly reviewed and assessed by the appropriate department administrators to ensure that departmental policies/procedures conform to campus and INTERNATIONAL PEACE COMMITTEE FOR INTERFAITH HARMONY policy and procedures: Risk Management, Emergency Management, Business Continuity, Occupational Health & Safety, and Public Safety.

Ongoing risk assessments will be conducted to ensure that policies adhere to system wide policy and guidance. These assessments will include on-office activities, electrical safety, and cyber risk, as well as off-campus activities, international travel, study abroad programs, internships, and field trips.

INTERNATIONAL PEACE COMMITTEE FOR INTERFAITH HARMONY employees are responsible for ensuring that campus programs, activities and policies are conducted in a manner that considers the risk of loss or injury. The Risk Committee will assist administrators to identify risks, perform analyses of the frequency and severity of potential risks, select the best techniques to manage risk, implement appropriate risk management techniques and staffing standards, and monitor, evaluate and document results. Resource issues related to the participation by campus colleges and departments will be addressed.

 

In addition, the Risk Management Policy will be reviewed annually and approved by the campus MD/CHAIRMAN.

 

  1. Risk & Safety Committee

Decision-making administrative personnel have been appointed to the Risk & Safety Committee by the campus MD/CHAIRMAN and are involved in maintaining the risk management policy. The committee, chaired by the Risk Committee, will meet periodically to consider matters involving risk and safety. Committee members are responsible for providing advice and information within their program areas to ensure the full performance of risk management functions.

The Risk Committee is responsible for forwarding committee recommendations to the Vice MD/CHAIRMAN for Administration and Finance, who will present those recommendations to the MD/CHAIRMAN.

  1. Risk Management Report

On an annual basis (calendar or fiscal), the Risk Committee will develop a risk management report inclusive of relevant data and the risk assessment component. Such assessment will prioritize the risks, areas of responsibility, related costs and funding options to ensure availability of funds.

This report will be provided to the INTERNATIONAL PEACE COMMITTEE FOR INTERFAITH HARMONY MD/CHAIRMAN and the Assistant admin officer Risk Management and Public Safety.