Corporate risk management
ICAO has maintained risks registers at the corporate and project/activity levels since 2012. Since then, the process has evolved with the Council taking greater interest in the risk identification process at the executive level.
A joint Council/Secretariat Senior Management Workshop on Corporate Risk Register and Assurance Framework and Corporate Key Performance Indicators was conducted in March. The workshop initially identified 140 risks. The Secretariat subsequently performed screening and analysis of these risks for review by the Council’s Working Group on Governance and Efficiency (WGGE) which approved in principle the proposed Corporate Risk Register along with the criteria for selecting corporate risks presented in the Sub Group on Risks and Assurance framework. The Secretariat was instructed to further proceed with a risk assessment and identification of mitigation actions and present this to the Council, which resulted in the retention of 25 corporate risks along with the respective mitigations required to manage those risks.
The ICAO Corporate Risk Register is now established and is designed to be a living document that requires regular review to reflect emerging issues and new risks. Major changes to risks as well as their mitigations will be reported to the Council on a regular basis.
