The Risk Management Unit of the University of Ghana has successfully organised an eight-day training programme for University stakeholders as part of the University’s comprehensive risk management initiative.
Facilitated by experts from the Internal Audit Agency, the training focused on the University's risk management strategy and core enterprise risk management tools. This included risk identification, assessment, mitigation, monitoring, reporting, and communication of the University's Risk Management Guidelines to stakeholders.
The primary objective of this training was to equip participants with the knowledge and skills necessary to fulfill their roles as leaders and stewards of risk management within the University. Furthermore, it aimed to empower participants to advocate for effective risk management practices within their respective operational areas.
One of the facilitators for the training
Speaking at the opening session of the training programme, Ms. Esi Nunoo-Ghartey, the Risk Officer and Coordinator of the training, stressed the importance of such training, noting that “organisations face uncertainties in achieving their objectives due to internal and external factors. In response to the evolving environment and adherence to national legal requirements, higher education institutions like the University of Ghana must adopt a proactive integrated risk management process known as Enterprise Risk Management (ERM).”
She added, "the University of Ghana, in its approach to use ERM as a strategic tool for achieving its set objectives, is organising this training programme for stakeholders.
Vice-Chancellor Prof. Nana Aba Appiah Amfo emphasised the need for continuous review of systems and operational processes to mitigate potential risks while exploring opportunities for growth and improvement. This approach is aligned with her key strategic objective of leading a responsive governance and management system that empowers academic and administrative units, promotes efficiency, effectiveness, accountability, and adherence to relevant laws and regulations.
Prof. Amfo also highlighted the expected benefits of the training for the University, which include, “proactive and holistic risk management, better-informed decision-making, efficiency in resource utilisation, and enhanced profitability and stakeholder confidence.”
The Vice-Chancellor also hoped that the successful completion of the training will bring about consistency and efficiency in the University’s operations and promote adherence to rules and regulations. Additionally, it will help University stakeholders to avoid potentially costly consequences of unidentified or lately managed risks and as well enhance the profitability and stakeholder confidence in the University.
She stressed the importance of collective efforts in risk management, noting that the Risk Management Unit would lead the charge, but the active participation of all staff was crucial for successful outcomes.
A cross-section of participants at the training
Participants of the training programme included Senior Management, Deans, Directors, Heads of Department, Union Executives, Managers of Residential Facilities and Student Leadership. This comprehensive training initiative reflects the University of Ghana's commitment to effective risk management and ongoing efforts to maintain its reputation as a leading institution of higher learning.
Coordinators of the Enterprise Risk Management with Facilitators
