Risk Management Reports Due by End of August

It is August—the end of the fiscal year approaches next month and the familiar hum of activity crescendos across NIH as budget offices work to meet close-out requirements and plan for next fiscal year. But there is another annual, mandatory, fiscal year requirement. This one is set forth by the NIH Risk Management Program and requires all institutes, centers and OD offices to submit an annual risk inventory report by the last Friday in August to the OD Office of Management Assessment. There is a management analyst within your IC/OD called the risk management champion. The champion plans, coordinates, manages and reports on your risk inventory. 

Your champion is working to update your risk inventory. To create the inventory, your champion scheduled numerous interviews with leaders and managers across extramural and intramural programs to capture data. Champions brainstorm and collaborate with leaders and managers on initiatives to improve business processes. As this is an arduous undertaking, some champions start interviewing as early as March. After conducting interviews, your champion presents the risk inventory to your executive officer and your director. 

For many, this may be your first realization that your organization has a risk inventory. As a leader and manager, you may recall participating in past interviews. If not, you may be interested in contributing to the identification of risks and finding out who your champion is. To find out, visit https://oma.nih.gov/RMAL/NIHRM/default/Pages/RMORMCh-Website.aspx.