» Risk

Risk within the NSRI is managed by the executive, with oversight by the Risk Committee. Risk and audit processes are closely aligned so that a comprehensive risk register is maintained. A heat map of key risks is continuously updated through an internal audit process, which involves active identification of matters and resolution by the executive, within set time frames. The Risk Committee reports quarterly to the Board and the updated risk register is shared electronically with all Board members. All meetings are formally minuted and minutes are shared with the Board.

A review was done of the risk register at the end of 2020 and the incorporation of risks into a risk application consolidated risks into 54 listed hazards and associated risks in a hazard identification and risk assessment model. Consequence and probability scores were customised to NSRI specific context. A time-based dimension was included in the probability score which talks to risk currency and relevance.

PROBABILITY Level Proximity

1 No incident in 5 years 2 No incident in 4 years 3 No incident in 3 years 4 No incident in 2 years 5 No incident in 6 months Score

1 2 3 4 5 The dimensions for the consequence score were also updated as follows:

Death or disability potential

5 Extreme Death or disability Reputational consequence Financial Loss

Negative international or national Media R10 000 000.00

4 Major Injury in ICU Negative provincial media R1 000 000.00 3 Moderate Injury hospital admission Negative local media R500 000.00 2 Minor Injury discharge same day Local station social media R100 000.00

1 Insignificant First aid only, no injury Single incident confined to Station R10 000.00

The impact of COVID-19 is demonstrated in the movement of some risks into the critical risk category. The following risks have become current and critical: „ Mechanical failure that can result in injury, disability or death (a single serious incident involving three crew) „ Management control of mechanical safety (a single serious incident involving three crew) „ The public’s ability to contact the NSRI in emergencies „ Adequate insurance cover for volunteers (a single serious incident involving three crew) „ Community resilience to drowning (markedly reduced Water Safety Education) „ Debit order donations declining during COVID-19 (reduced donations related to call centre disruption) „ Donations in general declining during COVID-19 (reduced donations related to call centre disruption) „ Crew and staff wellness (COVID-19 and injuries) „ Investments (volatile markets) „ Movable asset damage, loss or destruction (vessel damage) „ Climate change (slipway erosion)

In 2015, 13 key risks existed, in 2016 there were 11, 8 in 2017, 8 in 2018, 9 in 2019 and 11 in 2020.

The company has a register against which compliance with laws, regulations and codes are recorded. Sea Rescue has not recorded any penalties or sanction for non-compliance.

The Board is satisfied with the work of the Risk Committee and appreciative of the quality and responsiveness of the risk process.

The Board is satisfied with the work of the Risk Committee and appreciative of the quality and responsiveness of the risk process. For a full risk register, please refer to our website, www.nsri.org.za