Risk Management

1. Introduction
1.1. This risk management policy (‘Policy’) applies to the GBWR group (‘GBWR’), presently Great Britain Wheelchair Rugby Limited and its subsidiary GBWR Trading Limited; the policy will also apply equally to any additional subsidiary(ies) which may form part of the GBWR group from time to time.
1.2. The following definitions apply in Policy:
• A risk is something uncertain which might, or might not, happen and, if it happens, it will have an effect on the achievement of the company’s objectives
• Risk management is activity undertaken to identify, assess, and then control the levels of risk which impact on the company’s objectives
• A control is a specific procedure or action that will reduce the likelihood of a risk occurring
• Mitigation is the action of making the impact of a risk less severe

2. Approach to risk management
2.1. Risk management is central to GBWR’s strategic and operational management processes.
2.2. Effective risk management means that GBWR’s objectives are more likely to be achieved successfully. As a result, income, reputation, and stakeholder confidence can be protected and company expenditure controlled.
2.3. Effective risk management will therefore support GBWR to meet its target for reserves, as stated in its reserves policy and the consolidated annual report and financial statements, and reviewed annually.
2.4. Effective risk management involves an ongoing cycle of assessment, mitigation, monitoring, and review. The risk management process therefore involves the following steps at 2.5. in a cycle which is repeated, and/or refreshed regularly and no less frequently than quarterly by the board of trustees of Great Britain Wheelchair Rugby Limited (‘BOT’).
2.5. The process involves identifying and assessing most critical risks (based on risk), against the background of the appetite/tolerance outlined in this policy, establishing, and subsequently refreshing, a risk management matrix which includes:
• Risk identification (type, description, and responsible officer)
• Risk analysis and evaluation (where likelihood and impact assessment are defined by scoring in the matrix)
• Risk evaluation (controls in place and controls gap/mitigation actions required)
• A review of this Policy will take place by the BOT no less frequently than once every two years.

3. Risk management roles and responsibilities
3.1. The BOT:
• has ultimate responsibility for risk management across GBWR;
• considers and, if satisfied, approves this Policy and the risk management matrix as recommended periodically by the governance and finance committee (‘GFC’, as detailed below) – at a minimum this Policy will be reviewed once per two years and the risk management matrix once per quarter; and
• ensures the inclusion of a relevant explanation of the company’s risk management process in the governance report section of the consolidated annual report and financial statements, in compliance with the Code for Sports Governance (‘Code’), as may be amended from time to time.
3.2. The GFC:
• regularly, and no less than quarterly, reviews (and updates where necessary), with the chief executive officer (‘CEO’) and chief financial and operating officer (‘CFOO’), the risks faced by GBWR in all areas of its work, as recorded in GBWR’s risk management matrix, and considers how these risks are being and/or will be managed; and
• reviews (and updates where necessary) this Policy at least once every two years and makes recommendations for consideration by the BOT.
3.3. The CEO is responsible for establishing and maintaining the GBWR risk management matrix in collaboration with the CFOO; the CEO and senior leadership team:
• assess and update the GBWR risk management matrix regularly, usually once per month and no less frequently than once per quarter, and the CEO and CFOO report on this to the GFC; and
• co-ordinate and manage (where individual responsibility is defined by the responsible officer assigned to each risk in the matrix) the operational control and mitigation of the risks identified on the risk management matrix, under any advice from reviews taken by the GFC and BOT.

4. Risk appetite/tolerance
4.1. The BOT has determined the current risk appetite/tolerance of the company as follows:
4.2. The economic impact of the coronavirus pandemic created an ongoing greater level of uncertainly around the timing and availability of public and sponsorship funding than was experienced pre-pandemic. The BOT has a low tolerance for risk with regard to financial and operational management against tight budgets across the full range of GBWR’s activities.
4.3. As a registered charity and a national governing body (‘NGB’) operating under the Code, and with an awareness of the financial, operational, and reputational risks generated for all businesses through growing global reliance on a digital infrastructure, the BOT has a low tolerance of risk with regard to areas of governance, compliance, and organisational infrastructure, including insurance, IT, legal, and compliance with Charity Commission regulations and Code requirements.
4.4. In view of the opportunities for the GB team to achieve podium success, and of the substantial public funding from UK Sport for this area of GBWR’s activities, the BOT has a medium appetite for risk in advancing GBWR’s performance programme.
4.5. In view of the growth opportunities for wheelchair rugby at the levels of clubs and grassroots, and of the substantial public funding from Sport England for this area of GBWR’s activities, the BOT has a medium appetite for risk in advancing GBWR’s development programmes.
4.6. In view of the opportunities for talent development to support GBWR’s performance objectives, and of the substantial public funding from UK Sport and Sport England for this area of GBWR’s activities, the BOT has a medium appetite for risk in advancing GBWR’s performance pathway programme.
4.7. In view of the need to broaden the sources of income in order to realise GBWR’s ambitions, and recognising the direction of the boards of both Sport England and UK Sport that NGBs should be less reliant on public funding, the BOT has a higher appetite for risk, but in a limited and controlled number of instances, for pursuing sponsorship and/or commercial funding opportunities. This higher appetite does not diminish the requirement for thorough due diligence on, and assessment of, such opportunities, and nor does it diminish the BOT’s low tolerance for risk with regard to financial and operational management, as stated at 4.2.

Version 008 approved by the GBWR Board of Trustees at the meeting held March 2025.
To be reviewed by the GBWR Board of Trustees by March 2027.