Issue - meetings

The Committee considered a report of the Corporate Risk Management Group summarising the key corporate risks and risk management work undertaken since the previous report.

The updated Risk Management Policy had been approved by Cabinet at its meeting on 20^th August 2012. 

It had been agreed that a risk and opportunity workshop be undertaken with Cabinet and the Corporate Management Team in November to review the key corporate risks to achieving the Council’s objectives and to update the key corporate risk register. Further work would then be undertaken to determine the Council’s risk ‘appetite’ so that a qualitative high level statement of risk preferences could then be defined for business areas.

The Committee had requested that it receive a short briefing at each meeting from the risk owners/managers of the highest key corporate risks.  At the previous meeting, the key corporate risk around financial control had been discussed. The definition of this risk had since been updated and a copy of the updated risk stewardship template for this risk was attached at Appendix A to the report. Key corporate risk 15 – Reputation would be considered at the next meeting.

Guidance on risk management for policy writers had been drafted and was available on the Centranet.  A copy of the guidance was attached at Appendix B to the report.

The report also dealt with operational risks. These were captured at directorate and service level, and in some areas risks were identified and monitored through risk registers at team level. The most up-to-date overview of risk register development across service areas was circulated at the meeting. Operational risks identified for mitigation so far appeared to be around staff capacity and competency; skills and knowledge gaps; the reduction in funding and budget pressures impacting upon ability to deliver objectives/plans/projects; interdependencies on other services to meet challenging timescales; changes in political priorities /strategic decisions contra to aim of objectives; and supply chain instability.

Members asked about progress with proposals to apply a score to risks identified in reports to decision-making bodies. The officers responded that before this could be pursued further, risk management needed to be embedded firmly across the organisation.

The Director of Finance and Business Services advised Members that the impact of the Audit Commission’s value for money opinion on the key corporate risk for Financial Control would be considered with a view to submitting an updated report on this risk to the Committee’s meeting in January. 

RESOLVED

That

(1)  the report be noted;

(2)  it be noted that the review of the key corporate risk 15 – Reputation will be considered at the next meeting; and

(3)  it be noted that an updated report on the Financial Control risk will be made to the Committee in January which takes into account the response to the Audit Commission’s value for money opinion.