Financial Statements 2019/2020
cover business, operational and compliance risk as well as financial risk.
The Strategic Risk Register is the focus for the documentation and assessment of key strategic risks. The Register identifies and defines individual risks, assesses their likelihood and impact and outlines the mitigating actions in place or underway to reduce the impact of the risk.
RISK CATEGORY
Student journey and outcomes
RISK DESCRIPTION
— Teaching quality and academic support
— Organisation and learning infrastructure
— Student wellbeing and engagement — Student voice and community — Research benefitting students.
Financial sustainability — Overall financial sustainability — Student recruitment — Income diversification — Research and Knowledge Exchange.
The table below summarises the key strategic risks that could impact on the University’s ability to deliver our strategic objectives and the mitigating actions and controls in place to manage them effectively.
RISK MITIGATION
— Increase digital delivery and academic support — Establish student councils to advise on inclusive curriculum
— Support personal tutors in providing wellbeing advice in addition to dedicated services
— Joint events and communications with the Students’ Union.
— Agile budgeting and forecasting to allow responses to changing situation
— Campaign to increase conversion from offer to enrolment of UK and overseas students
— Implement strategy for growing apprenticeship provision
— Enhance support and capability for research and industrial funding bids.
External environment — Brexit — National and HE Policy — Coronavirus.
— Active engagement in policy and advocacy groups — Internal sharing of sector intelligence — Brexit planning group to coordinate preparations and manage impacts
— Coordinated communications on coronavirus interventions and controls.
Internal environment — Culture and people — Estates — Student Space.
— Align Culture and People Strategy to new university Strategy
— Integrate new leadership framework into policies and appraisals
— Deliver programme for timetable, teaching space and student accommodation improvements.
Compliance
Includes: — Office for Students HE Provider status — UKVI sponsor licence — Cyber security — General Data Protection Regulation — Prevent Duty.
— Shared action plan between visa compliance team and international student support
— Ongoing review of cyber vulnerabilities — Expand cybersecurity and data protection training — Implement initiatives to prevent extremism and hate crime.
Middlesex University
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