Welcome to a new year – a time to reflect, personally and professionally. If you have a risk and opportunity register, this may be a good time to review and update it. If you don’t, this may be the perfect opportunity to develop one.

Whether you’re reviewing your register or creating one, be clear on your objectives, and what risks or opportunities may impact them. Examine what’s happening externally and internally, and consider the impact of something like AI, government decisions or changes in key personnel at the university. These may come with challenges – how to grade AI-generated assignments, adjust to new requirements, or workload redistribution due to personnel changes. They could also provide opportunities – to use AI to improve processes, find operational efficiencies, or facilitate career development and growth opportunities for current personnel.

A risk register brings together the pieces of risk identification, assessment, and treatment plans. This tool can help you proactively identify risks, prioritize the most critical risks, and execute existing or new solutions to manage risks. Reviewing existing risks or identifying new ones can also reveal opportunities to make improvements or pursue innovations.

Rather than viewing a risk register as a requirement to be completed, view it as a tool to help you identify, monitor and achieve your objectives. Review it regularly and especially whenever you anticipate or experience changes. You may want to engage with your team and other stakeholders to reprioritize your risks or you may discover you already have a solution for a new potential event.

We’re here to help. If you need support with developing a new or updating an existing risk register, please contact the Internal Audit and Risk Management team at InternalAuditServices@macewan.ca. Wishing you a 2025 full of exciting opportunities!

From Internal Audit and Risk Management