Non-profit (NFP) Boards find themselves in a whirlwind of emerging risks and governance challenges, navigating challenging terrain ranging from uncertain revenue streams, fundraising challenges, staffing and volunteer shortages and changing workforce, adapting to new regulations including technology risk.
While many forward-thinking non-profits diligently establish Risk Compliance audits and tools, Risk Registers, and proactive Risk Management frameworks, a chasm often exists between preparedness and proactivity.
In their role as strategic stewards, NFP Directors may feel inundated by multiple risks demanding assessment and management. Engaging in dynamic, ongoing conversations with Management becomes paramount for advancing the NFP's mission and vision while deftly balancing the tightrope of Risk versus Opportunity for change. Establishing a shared understanding of "real risks," organizational readiness, recovery plans, business continuity, and defining risk appetite and tolerance within the NFP are critical endeavors. Boards of smaller to medium-sized organizations in sectors such as health, social services, sports, arts, environment, community services, etc., encounter the same risks as their larger counterparts but with significantly fewer resources and expertise at their disposal. Directors of smaller NFPs often find themselves adopting a more hands-on approach in underserved, understaffed environments.
This ICD GTA Chapter event features panelists with real-life expertise and case examples of how the Board’s role can set the right tone and provide strategic stewardship for “Risk” in Non-profit Leadership that includes:
- Strategic Learning Adventures: How can Boards embark on a continuous learning journey to stay ahead of emerging risks, understanding the top three risks that could jeopardize the viability of an NFP's mission and proactively managing risks in resource-limited, underserved NFP environments
- Revolutionizing Revenue generating Strategies: Allocating precious Board time to identify and mitigate emerging financial and sustainability risks that often dominate NFP agendas
- Cultivating a Risk-Ready Culture: Boards explore ways to evaluate their organization's management, talent, and culture for effective risk management, setting expectations for staff in risk assessment and strategy development
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Past Chair of the Board of Imagine Canada
Former Minister of Transportation of Province of Ontario
Partner and Not for Profit National Leader, KPMG LLP, Toronto
Director of Partnerships and Programs, Scale Collaborative