Risk Management Update Report
Meeting: 28/03/2013 - Audit and Governance Committee (Item 53)
53 Risk Management Update Report 
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To consider a summary of risk management work undertaken since the previous meeting of the Audit and Governance Committee.
Minutes:
The Committee considered an update report on risk management.
In February 2013 Cabinet and the Corporate Management Team had undertaken a risk and opportunity workshop to review the key corporate risks in achieving the Council’s objectives and outcomes. The workshop had included a refresher presentation on the principles of risk management, which had provoked discussions around risk appetite and the maturity of the Council in dealing with risk.
Risk maturity was the extent to which a robust risk management approach had been adopted and applied by management across the Council to identify, assess, decide on response to, and report on opportunities and threats that affected the achievements of the Council’s objectives. The range of risk maturity started at ‘risk naïve’ through to ‘risk enabled’. Cabinet and the Corporate Management Team agreed that the Council should strive to reach the level of maturity of ‘risk managed’ as a minimum standard. It was judged that the Council’s present level was between ‘risk aware’ and ‘risk defined’.
Using the Three Year Plan outcomes, priorities and draft objective, Cabinet and the Corporate Management Team had identified key risk and opportunities which could impinge on their delivery. Work had begun to properly articulate these risks and update the key corporate risk register. The identified risks related to external, strategic and operational risk areas. The Committee was asked to identify one of these areas of risk to receive a briefing on at the next meeting.
Members asked about the Council being prepared for the changes arising from the Welfare Reform Act and it was agreed that the Risk Register from the Welfare Reform Working Group would be brought to the next meeting.
RESOLVED: That
(1) the update report on risk management be noted;
(2) Commissioning and Services Delivery Chains be identified as the risk for consideration at the next meeting of the Committee; and
(3) the Welfare Reform Act Risk Register be brought to the next meeting