Group picture of members of the University-Level Risk Management Committee
Vice-Chancellor, Prof. Nana Aba Appiah Amfo, has inaugurated a 16-member University-Level Risk Management Committee to oversee the development of a risk management structure, create risk awareness, and regulate the implementation of the University’s risk management policies and procedures.
During her remarks, Prof. Amfo, who is the Chairperson of the Committee, highlighted the importance of having such a committee in place, as it is required by law for public institutions to have a Risk Management Committee for internal control, accountability, and internal audit, in respect of resources and transactions.
“The work of the Committee will be pivotal to the fulfillment of the University’s obligations to funding and regulatory bodies, as well as promote sustained performance of key indicators of the University,” she noted.
Prof. Amfo also explained that the primary objective of the Risk Management Committee would be to oversee the University's risk management systems by evaluating the efficiency of its risk management practices and procedures and making recommendations for improvement.
Vice-Chancellor, Prof. Nana Aba Appiah Amfo
She urged the Committee to leverage the diverse expertise of its membership to effectively oversee the implementation of risk management principles across the different spheres of university operations.
The Vice-Chancellor also emphasised the significance of the Risk Management Policy approved by the University Governing Council in May 2019.
“The policy is consistent with my fourth key strategic objective as Vice-Chancellor, which is to lead a vibrant and responsive management system aimed at enhancing accountability, efficiency, a sense of responsibility while ensuring compliance with relevant national and University laws and regulations,” she detailed.
According to her, “the terms of reference of the Committee include developing a risk governance structure for University Management, regulating the implementation of the University’s Risk Management policies and procedures, providing University Management with information on the University’s risk appetite, level of exposure and tolerance, informing University Management about the key risks affecting the University and advising on their mitigation strategies, and creating risk awareness in the University.”
The Vice-Chancellor thanked the members of the Committee for accepting to take on the daunting task and declared the University-Level Risk Management Committee duly inaugurated.
Prof. Daniel Frimpong Ofori, Provost of the College of Humanities, speaking on behalf of the Committee, pledged the Committee's dedication and devotion to accomplishing its purpose.
A cross-section of members of the Committee
He acknowledged the enormity of the task presented as well as the threat posed by not having the committee in place, and urged members of the committee to bring their expertise and experience from other committees to ensure it performs a creditable job to make the risk profile of the University meet the required standard.
The Director of Finance, Mrs. Bernice B. Agudu, also a member of the committee, called on other members to champion the cause and carry their teams along in order to deliver on the committee's mandate.
Following the successful inauguration of the University-Level Risk Management Committee, the Chief Risk Officer of the University, Mr. Thomas Kweigir-Abaidoo, announced that the risk management policy required that all colleges also have College-Level Risk Management Committees to be made up of Deans, Directors, College Secretaries, College Finance Officers, College HR officers and Materials Officers among others.
He, therefore, urged the colleges to make the necessary arrangements for the swift formation and inauguration of College-Level Risk Management Committees.
Mr. Kweigir-Abaidoo also noted that the Risk Management Office would roll out training sessions to be facilitated by the Director-General of Ghana’s Internal Audit Service.
The University-Level Risk Management Committee's membership includes the Vice-Chancellor, Pro-Vice Chancellors, Provosts of the various colleges, and Directors of key University departments such as finance, internal audit, legal counsel, and information technology.
A cross-section of members of the Committee
The inauguration of the Risk Management Committee underscores the University's commitment to ensuring accountability and efficiency in its operations, as well as compliance with relevant laws and regulations.
The Committee is expected to meet regularly to evaluate the University's risk management systems and provide recommendations for improvement.
The work of the Committee is expected to help mitigate risks that pose a significant threat to the achievement of financial health and other University-wide objectives.
The members are Prof. Nana Aba Appiah Amfo, Vice-Chancellor of the University; Prof. Felix A. Asante, Pro Vice-Chancellor, in charge of Research, Innovation, and Development; Prof. Gordon A. Awandare, Pro Vice-Chancellor, in charge of Academic and Students Affairs, and the Registrar of the University, Mrs. Emelia Agyei-Mensah.
Others are Prof. Daniel F. Ofori - Provost, College of Humanities; Prof. Samuel N. A. Codjoe - Provost, College of Education; Prof. Julius Fobil - Provost, College of Health Sciences; Prof. Boateng Onwona-Agyeman - Provost, College of Basic and Applied Sciences; Mrs. Bernice B. Agudu - Director, Finance Directorate; Mr. Thomas Kwegyir-Abaidoo - Chief Risk Officer/Acting Director, Internal Audit Directorate; Dr. Abdul Baasit Aziz Bamba - Acting Legal Counsel; Dr. Yvonne A. Lamptey - Acting Director, Human Resource and Organizational Development Directorate; Mr. Charles Kofinti - Director, Physical Development and Municipal Services Directorate; Mr. Sampson Owusu-Afriyie - Director of Logistics and Mr. Francis Boachie - Chief Information Technology Officer.
Miss Regina E. Adagbedu, a Senior Assistant Registrar at the College of Humanities, will serve as Secretary to the Risk Management Committee.
The brief ceremony was moderated by Ms. Pascaline Songsore, Senior Assistant Registrar at the Public Affairs Directorate.
