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Managing Risk. 

Please watch a brief introductory video to G2P and how it tackles Risk below.

Risk Assessment and Sub-recipient Monitoring

Updates to OMB Circular 2 CFR Part 200 affects how anyone receiving federal funds must assess, monitor, and govern any grant they issue. Ensuring proper management of these funds requires increased internal controls; standardized business processes; and the use of information technology and shared services.

Entities are required to evaluate each sub-recipient's risk of non-compliance and results could potentially drive additional terms and conditions surrounding the award of those valued dollars. Based on these risk assessments, the standard terms and conditions [prior to the assessment] may need special amendments.

Those amendments could potentially include:

  • increased reporting procedures,

  • more frequent on-site audits,

  • additional monitoring activities, financial performance reports, and more.

 

The tight integration of our Grant Governance Module and our Risk Assessment Module allow departments and agencies across the entity to have real-time access to the compliance history of grantees as part of the programmatic risk assessment.

 

A key aspect of the Programmatic Risk Assessment module is our pre-defined risk assessment questionnaire templates. These are fully-customizable, and give you the ability to create additional questions, and to create their own templates-based on programs.

 

Questions are weighted, and the grantee completes the questionnaire on-line, the system scores the questionnaire, notifies the grant manager/analyst, and provides the answer and score. By using a consistent template based on the grant

program, organizations avoid the appearance of partiality, and provide a quick and easy audit to establish that the programmatic risk assessment was completed as required by the program.