KNATCOM EMBRACES ENTERPRISE RISK MANAGEMENT

KNATCOM EMBRACES ENTERPRISE RISK MANAGEMENT

Day 5 of the Enterprise Risk Management Validation Framework marks the end of a week-long, thought-provoking process of developing the Corporate Risk Management Framework. The Commission’s Board Members attended the validation workshop where they were taken through the Corporate Risk Management Policy. Additionally, they were presented with each functional unit’s risk register derived from an evaluation process aimed at establishing the risks associated with implementing the Commission’s mission and strategic objectives. CPA Nebert Avutswa, the Chief Executive Officer of Oguda & Associates also attended the closing ceremony of the validation workshop that was held at the Kenya Wildlife Service Training Institute, Naivasha.

The team developing the risk management framework gained invaluable insights from the experienced Board Members who shared their objective views on best practices in managing corporate risks. This led credence to the resolution by members to integrate risk management in all processes and have the framework reviewed on quarterly basis to ensure that the Commission attained its objectives.

The significance of incorporating risk management in any process cannot be overlooked. One of the key lessons learned was that an institution is not immune to risks. Therefore, each institution must recognize and appreciate its risks. Some of the risks that are categorized as minimum and inadvertently left unaddressed, ultimately result in major losses, downtime or high staff turnover. To mitigate against such risks, each institution needs to identify its inherent risks associated with all its processes and document them for action and posterity. Once the risks are identified, the institution must put in place mechanisms to reduce or eliminate the risks altogether. In so doing, the risks associated with poor performance, fraud and low customer satisfaction levels are mitigated against.

We thank the Board Members for their guidance and insights; Dr. Evangeline Njoka, MBS, the Secretary General, for passionately steering the entire process from its inception to adoption; CPA Jared Odhiambo, the lead consultant, for sacrificial dedication during the process; the management and risk champions, for working conscientiously to deliver a working document; and the staff, for their unyielding support to the working group.

Kenya National Commission for UNESCO will endevour to continually address its identified risks and work towards ensuring that these have been progressively reduced and eliminated for improved service delivery.

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