20 questions not-for-profit board directors should ask about overseeing management of risk

Learn how not-for-profit (NFP) board directors can carry out their duties in overseeing risk management.

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A key aspect of board governance is its responsibility to identify and manage risk. But in an NFP, a board’s role in this matter can vary widely. If you are a director with a small NFP whose staff might not have the experience to manage risk, you may find your role is a little more ‘hands-on’ in this area.

If yours is a large NFP, you can often rely on staff to manage the day-to-day risks while your work consists mostly of approving policies, strategies and major decisions about risk. In either respect, you will need to know how to carry out these duties, what to know and what to look for.

20 Questions Directors of Not-for-Profit Organizations Should Ask about Risk examines the topic by discussing:

  • how the board can prepare itself to oversee risk and establish risk policies
  • what the board should expect from staff in terms of assessing risks and developing risk strategies
  • what information you should expect to get from staff on risk performance and what they’ve learned from crises
  • how the board should measure its own effectiveness in overseeing risk management.
  • a sample risk register
  • suggested insurances your organization may require
  • a continuity planning list

Also included:

  • a sample risk register
  • suggested insurances your organization may require
  • a continuity planning list

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