Grant Risk Management
Financial risk is inherent in any grant making decision. CRY first initiated the process of Financial Risk Management (FRM) in 1994 wherein it was carried out with the help of an external auditor. After the introduction of the Development Support Head Office (DSHO) Systems team in 2001, CRY decided to set up an internal FRM team within this unit in 2003. In July 2013, the FRM team moved out of DSHO and is since acting as an independent unit under the CEO’s office. The newly formed unit is called Grant Risk Management or GRM Unit.
Since inception CRY’s approach towards financial risk is targeted at striking a balance between programmes and finance. The primary function of the GRM Unit is to ensure effective utilisation of CRY funds and build efficient and transparent accounting systems and financial monitoring mechanisms at partner level. The team also regularly conducts capacity building workshops with partners and Development Support Teams on financial management and basics of accounting.