Monthly Webinar | Risk Management in Grants Management: Identifying, Assessing, and Mitigating Risks-Video Recording

Video Transcription

Video Summary

The NGMA webinar focused on Risk Management in Grants Management, emphasizing the importance of proactively identifying, assessing, and mitigating risks throughout the grants lifecycle to ensure program success and compliance. Presenters Angie Brown, Jane Clark, and Dana Daigle highlighted common risk categories including financial mismanagement, compliance failures, program and operational challenges, and subrecipient oversight. They stressed that risk management is critical not only for compliance but also for safeguarding financial stability and organizational reputation.<br /><br />Key strategies discussed included using stakeholder input, historical data, audits, and process mapping to identify risks, followed by the assessment of risk likelihood and impact to prioritize mitigation efforts. Mitigation tactics encompassed strong internal controls, leveraging technology for monitoring, staff training, diversified funding sources, and regular internal audits. Real-world case studies illustrated risks such as improper payments, documentation lapses, staffing turnover, and compliance failures, along with successful interventions.<br /><br />The session underscored adapting to current challenges, including ongoing federal executive orders affecting grant funding, by strengthening financial resiliency and audit readiness. Attendees were encouraged to integrate risk management into daily grants administration to enhance transparency, accountability, and program sustainability. A lively Q&A addressed topics like internal controls, audit frequency, and available resources, directing participants to NGMA tools and federal guidelines for further support.

Keywords

Risk Management

Grants Management

Financial Mismanagement

Compliance Failures

Subrecipient Oversight

Internal Controls

Audit Readiness

Program Sustainability

Stakeholder Engagement