Risk Management

The College of Registered Nurses of Alberta faces risks which can impact the organization’s ability to achieve strategic goals and objectives.  As a result, the College has a dedicated risk management function whose goal is to reduce harms to both the public and the organization. This is done by utilizing risk-informed decision making and proactively responding to emerging risks and opportunities. The goal of the Right-touch Risk Management Framework is to reduce harm to both the public and to the organization by utilizing risk-informed decision making and embedding the principles of risk management at all levels of the organization.    

The risk management function supports risk owners throughout the organization in identifying and assessing risks using standardized templates and a centralized risk register.  Treatment plans are developed to manage and mitigate each risk to be within the College’s risk tolerance.  Risk reports are developed to deliver timely and relevant risk information into the hands of decision makers to support the strategic goal of risk-informed decision making.

The CRNA accepts reasonable risks to achieve its strategic objectives.  Managers and staff are encouraged to be innovative and entrepreneurial, which requires a certain level of inherent risk.  However, in accepting risk, there will be no compromise of the College’s core values of integrity, respect, accountability, and professionalism.

The CRNA has committed to embedding the principles of Right-touch Regulation in activities, processes, and decisions wherever possible.  Just as Right-touch Regulation aims to proportionately match the regulatory response to the circumstances, the CRNA’s risk management framework aims to ensure all strategic, operational, financial, and regulatory risks are being mitigated with the appropriate level of resources and oversight.

Risk management also supports CRNA’s strategic goal of fiscal stewardship, ensuring decisions are forward-looking and risk informed.  Properly assessing risks is complex and challenging but is essential in making high quality risk-informed decisions.