Jurisdiction(s):
United Kingdom

Key definition

Risk register definition

What does Risk register mean? A risk register is the trustee board’s working record of the material risks facing a pension scheme and how those risks are prioritised and managed. It typically lists each risk (for example, employer covenant, investment, funding/liquidity, administration, cyber/data, legal and regulatory compliance, conflicts, and ESG/climate), rates likelihood and impact (often showing inherent and residual risk against risk appetite), identifies a risk owner, and records existing controls, mitigation actions, review dates and current status. The term is not defined in legislation or case law; it is a descriptive governance tool used across legal and pensions practice. In England & Wales, Scotland and...

Legal risk register precedent (Excel) with sample and blank worksheets, plus guidance to identify, categorise, score and mitigate legal operations and wider legal risks, with RAG ratings and action points

Published by a LexisNexis Risk & Compliance expert

Precedents

Please click to access the Precedent. Please note this register has been created in Excel, and therefore it cannot be downloaded into Word. For detailed guidance on completing a legal Risk register, see Practice Note: How to create a legal risk register. However, a concise summary is set out briefly below.

What is a legal risk register?

A legal risk register is a means of gathering and overseeing all legal risk information in a single location. To produce an effective and reliable register, you must first determine the legal risks your organisation encounters. Understanding your organisation’s risk appetite is also highly advantageous. The register then lets you classify each risk appropriately, assign a score to it, and choose Mitigation measures and actions. Separate Precedents exist for a general risk register and for a privacy risk register-see Precedents: Risk register and Privacy risk register.

Identifying risks

To create a robust risk register, you must start by identifying the risks your organisation faces. This work may already have been undertaken (by the legal team, Compliance function or others) as part of mapping general, non-legal risks across the business. If not, you can draw on the following general Risk management Precedents:

Risk appetite

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Web page updated on 27/05/2026

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