Lloydminister Public School Division

(780) 875-5541 Fax: (780) 875-7829

5017 - 46 Street
Lloydminster, Alberta T9V 1R4

Administrative Procedures

Administrative Procedure 532

Risk Management

General

The Lloydminster Public School Division acknowledges that all activity has associated with it an element of risk.  Due to the diverse nature of the Lloydminster Public School Division’s operations including instruction and community service, and the fact that not all risks can be avoided or transferred to third parties through insurance policies, contracts or waivers, the management of risk at all levels of the organization is imperative.  Lloydminster Public School Division is responsible for approving the Risk Management Policy, Framework and Risk Appetite Statement, as well as endorsing and monitoring its effectiveness.  The Director of Education is responsible for ensuring effective risk management performance within the Risk Management Framework. 

Position Statement

Lloydminster Public School Division will manage risk to protect the Lloydminster Public School Division community and its assets and will maintain a proactive, long term and sustainable Enterprise Risk Management strategy as summarized in the Risk Management Framework (Appendix A).  When appropriate and cost effective, Lloydminster Public School Division will seek to share risk with third parties, through the use of insurance policies, waivers, and contracts.  Lloydminster Public School Division will ensure that risk associated with emergency preparedness and business continuity is addressed in appropriate plans.

Purpose

Lloydminster Public School Division is committed to building increased awareness and a shared responsibility for risk management at all levels of the organization.  A clearly defined Risk Management Administrative Procedure including a Risk Appetite Statement (Appendix B) supports this commitment.  This Administrative Procedure is intended to assist in decision making processes that will minimize potential losses, improve the management of existing uncertainty, and the approach to new opportunities, thereby helping to maximize the Lloydminster Public School Division’s available resources.

Scope

Compliance with Administrative Procedure extends to all members of the Lloydminster Public School Division community.

Risk 

The effect of uncertainty on objectives.  Risk is measured in terms of likelihood and impact.

Risk Appetite (Risk Tolerance) 

The amount and type of risk that an organization is prepared to pursue, retain, or take.

Risk Management  

Coordinated activities to advise and guide an organization with regard to risk.

Risk Management Framework

A set of components that provide the foundations and organizational arrangements for designing, implementing, monitoring, reviewing, and continually improving risk management throughout the Lloydminster Public School Division.

The foundations include the policy, objectives, mandate, and commitment to manage risk.

The organizational arrangements include plans, relationships, accountabilities, resources, processes, and activities.

The risk management framework is embedded with the Lloydminster Public School Division’s overall strategic and operational policies and practices.

Procedures

Administrative Procedure Supports

Appendix A - Risk Management Framework - currently under development

Appendix B - Risk Appetite Statement - currently under development

Definitions

Members of the Lloydminster Public School Division Community - includes employees,
students, contractors, volunteers, and others.

Employees - are persons on the payroll of Lloydminster Public School Division.

Students - are persons enrolled at Lloydminster Public School Division.

Contractors - are persons working under a contract or agency relationship.

Volunteers - are persons who perform an unpaid service for Lloydminster Public School Division.

Reference
CAN/CSA-ISO 31000:2010

Adopted
December 2015

Revised
August 2023