Risk Management Policy

The Viviscent Wellness Foundation (“VWF”) is committed to proactively identifying, assessing, and mitigating risks that may impact the organization’s mission, operations, financial stability, or reputation. This Risk Management Policy establishes the framework for managing risk across all programs and activities.

1. Purpose

This Policy ensures that VWF:

• Identifies potential risks before they occur
• Implements strategies to reduce or eliminate risks
• Maintains operational continuity and organizational resilience
• Complies with legal, regulatory, and ethical standards

2. Scope

This Policy applies to all employees, volunteers, contractors, partners, and programs within VWF, including sweepstakes operations, donor engagement, housing initiatives, and administrative functions.

3. Types of Risks

Risks may include, but are not limited to:

• Operational Risks: Process failures, system outages, or workflow disruptions
• Financial Risks: Fraud, mismanagement, or unexpected financial loss
• Compliance Risks: Violations of laws, regulations, or sweepstakes rules
• Reputational Risks: Negative publicity or loss of stakeholder trust
• Security Risks: Data breaches, cyber threats, or unauthorized access
• Strategic Risks: Poor planning or ineffective decision‑making

4. Risk Identification

VWF will regularly assess internal and external factors that may pose risks. Methods include:

• Staff and volunteer feedback
• Program evaluations and audits
• Financial reviews
• Technology and security assessments
• Regulatory updates and compliance reviews

5. Risk Assessment

Identified risks will be evaluated based on:

• Likelihood of occurrence
• Potential impact on operations or stakeholders
• Urgency and severity
• Available mitigation strategies

6. Risk Mitigation Strategies

VWF will implement appropriate measures to reduce or eliminate risks, including:

• Internal controls and oversight
• Staff training and education
• Technology safeguards and security protocols
• Financial monitoring and audits
• Policy updates and procedural improvements

7. Incident Response

In the event of a risk‑related incident, VWF will:

• Respond promptly to contain and mitigate the issue
• Investigate the root cause
• Document findings and corrective actions
• Notify affected parties when required

8. Roles and Responsibilities

All personnel share responsibility for identifying and reporting risks. Leadership and compliance staff are responsible for evaluating risks and implementing mitigation strategies.

9. Policy Review

This Policy will be reviewed periodically and updated as necessary to reflect evolving risks, legal requirements, and organizational best practices.

Contact Us

For questions regarding this Risk Management Policy, please contact:

Email: compliance@viviscentwellnessfoundation.org
Phone: 205‑460‑5305