OFFICE OF CORPORATE STRATEGY

OFFICE OF CORPORATE STRATEGY

Background

Background


On 16th July 2014, the University has approved the establishment of Risk Management Unit (RMU) under the Office of Corporate Strategy (OCS) or currently known as Office for Strategy and Institutional Change (OSIC). Risk Management was one of the 2014 Key Result Area (KRA) projects under the purview of good governance. The unit is to lead in the implementation of risk management framework and practices as stipulated in Code of University Good Governance 2011, Malaysian Code of Corporate Governance 2012 (MCCG) and Action Plan for implementation of the National Integrity Plan oh Higher Education 2010-2015 (University Management Committee Meeting 15/2014). Subsequently, a workshop to formulate IIUM Risk Management Policy was carried out on 2nd October 2014.

To assist the unit in coordinating operational risks among the divisions and kulliyyahs, Risk Coordinators were appointed at each Kulliyyah/ Centre/ Division/ Institute/ Office / Mahallah (KCDIOM). These Risk Coordinators, who act as liaison officers, were first appointed in September 2014.

Training for Risk Coordinators was first carried out in November 2014 by the appointed consultant, who was also involved in formulating the IIUM Risk Management Policy, Framework and Guidelines. Additional trainings and meetings were carried out among KCDIOM for their respective risk assessment exercises; which began with Management Services Division (MSD) and Information Technology Division (ITD), among others. Whilst for strategic risks, interviews were carried out with key IIUM stakeholders in identifying the strategic risks of the University. This interview method that first took place in March 2017 was still being practiced until 2019.