The risk management unit aims to create a risk management system and initiate, develop and implement risk management practices across DU. The task of RMU is to integrate risk discussion into strategic deliberations, identifying the inter‐relations of risk factors across an organization’s activities. The RMU is responsible to identify and assess risks in the case of DU in the following six areas:
- Strategic Risk: Risk that has an impact on DU’s ability to achieve its mission,goals and objectives.
- Compliance Risk: Risk created by failing to follow Oman’s laws, regulations or university policies that safeguard DU or its members from legal exposures.
- Financial Risk: Risk which emanates from wrong policies of financial management and budgeting being pursued by DU resulting in possible financial losses to the university.
- Operational Risk: Risk that affects day to day operations of the DU including the information security risks.
- Human Resources Risk: Risks arising from wrong recruitment, training and retention of able human resources to run the DU efficiently.
- Reputation Risk: The risk to the reputation of DU as a prestigious institution of higher learning of Oman.