Financial risks for NPOs
Every organisation faces uncertainty around future events that could threaten its ability to accomplish its mission and vision. Every organisation must also innovate and be creative to succeed; without taking risks, an organisation will wither and die.
So, in 2015, Ziyo will again focus on helping NPO’s to manage and reduce financial risks, including our series of Financial Risk Alerts which will, over the coming weeks and months, provide some useful tips and tools.
In setting the scene, it is important to remember that not every risk can (or should) be avoided; what is critical is that exposure to risk is limited to acceptable levels. This is done through the responsible management of risk by systematic identification, evaluation and management of actual and potential risks faced.
The organisation’s approach should be documented in policies and procedures on risk management so that a shared understanding of the process is held throughout the organisation.
To assist your organisation with this, Ziyo offers:
- a generic risk management policies and procedures manual, which provides a framework for organisations to adapt and so to develop their own manual;
- risk management training, in collaboration with other professional associates who also focus on the non-profit sector;
- customised solutions for your organisation – such as workshops for your board, facilitation of risk assessments and specific advice on the management of financial risks;
- a series of Financial Risk Alerts (via email and Facebook) with related tips and tools – watch this space and/or see our website or our Facebook page.
If you would like more information on what Ziyo offers, or to arrange a consultation, please contact Ziyo via email on ziyo@ziyo.co.za or call us on 021 797 6226
