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1PMPyU0
1PMPyU0
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Bloodwise 40<br />
STRATEGIC REPORT<br />
PRINCIPAL RISKS AND<br />
UNCERTAINTIES<br />
The Trustees are responsible for ensuring effective risk<br />
management, and that internal controls are in place to<br />
appropriately manage the risk exposure of our charity.<br />
Risks are given ratings from low to high according to<br />
the likelihood of their occurrence and their impact<br />
should they occur. The Board considers all risks on the<br />
register but focus on those that are considered to have a<br />
high likelihood of occurrence and a high level of impact.<br />
The risk register is dynamic and shows movement in<br />
risk ratings between periods, as well as a traffic light<br />
system to demonstrate confidence in the control. It is<br />
reviewed at the Audit & Risk Committee meetings,<br />
where adjustments are made as risks are mitigated and<br />
new ones emerge.<br />
The wider Board of Trustees review the risk register<br />
annually and have considered: the major risks to<br />
Bloodwise; the potential impact and probability<br />
associated with each risk; the existing internal controls<br />
and accountability for them; and the mitigating actions<br />
needed to reduce each risk to a level that the Trustees<br />
consider to be acceptable.<br />
The table shows risks that were rated high in probability<br />
of occurrence and impact as at February 2015.<br />
Risk<br />
Mitigation<br />
1. Achieving cut through to raise income and<br />
awareness in a crowded and competitive market<br />
place<br />
››<br />
New income generation strategy<br />
››<br />
Care of loyal supporters<br />
››<br />
Innovation of new products<br />
››<br />
Awareness campaign<br />
››<br />
Name with broader appeal<br />
2. Inability to increase large gift income ››<br />
Team restructure and new appointments made<br />
3. Focus and capacity to deliver significant projects<br />
awareness campaign, signposting service, name<br />
change by September<br />
››<br />
Organisational prioritisation<br />
››<br />
Adequate resourcing<br />
››<br />
Progress review<br />
4. Changes in leadership team ››<br />
Succession planning remit of Remuneration &<br />
Appointment Committee<br />
››<br />
Defined recruitment processes<br />
››<br />
Clarity of plans should interim cover be required<br />
Bloodwise trading as Leukaemia & Lymphoma Research Company limited by guarantee 738089<br />
Registered charity 216032 (England & Wales) SC037529 (Scotland)
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