Roles and Responsibilities of Board and Staff/Property Manager
Roles of the Co-op Board and Staff in Risk Management
The board and staff of the co-op have different responsibilities when it comes to risk management.
The board has the overall governance responsibility – they govern the co-op, they don’t manage the day to day affairs. They are involved in the strategic planning of the co-op, and the overall plans for ensuring effective risk management. They set the goals for the co-op, and are the decision makers when it comes to finalizing the risk management activities. The board should designate one person to oversee risk management work in the co-op. The board should also make a commitment to integrate risk management into the co-op’s operations and ensure that members are educated on the benefits they will see by being aware of risks in their own units.
The staff person has the responsibility of managing the daily operations of the co-op. They implement the decisions made by the board, and carry out the day to day operations, including the risk management activities.
However, the board and staff must work together to integrate risk management into the co-op’s operations, and to ensure that risks are identified and fixed. Together, the board and staff should discuss how these activities, including the checklists, will be handled and who will carry them out.
Roles of the Board in Risk Management
Boards are involved in the strategic planning of the co-op, and the overall plans for ensuring effective risk management. They set the goals for the co-op, and are the decision makers when it comes to finalizing the risk management activities including such things as:
- Ensuring a risk management plan is in place
- Providing staff/managers with resources and support to carry out the plan
- Receiving reports from management on risk management activities
- Engaging in long-term planning
- Communicating to members and educating/engaging them
Roles of the co-op Staff in Risk Management
The staff person has the responsibility of managing the daily operations of the co-op. They implement the decisions made by the board, and carry out the day to day operations, including the risk management activities such as:
- Conduct unit inspections of the property and risk management checklist inspections
- Be the first to identify and assess risks and determine the cause
- Provide risk management reports to the board
- Carry out required maintenance and repairs
- Ensure scheduled inspections (i.e. smoke detectors, fire alarms) are conducted