Issue - meetings

To consider a report by the Internal Audit & Risk Manager detailing the outcome of a review of the Risk Management Strategy.

Approved the content of the Risk Management Strategy and appointed Councillor Harrison as Risk Management Champion.

By way of a report by the Internal Audit and Risk Manager (a copy of which is appended in the Minute Book) the Cabinet considered the outcome of the Annual Review of the Risk Management Strategy.

By way of background, Members were advised that the Strategy had previously been approved by the Corporate Governance Panel but following a review of the Panel’s effectiveness it was no longer considered the appropriate forum to consider the document.

Having expressed their satisfaction with the conclusion that there should be no change to the Council’s risk appetite either in general terms or specifically for health and safety, it was

RESOLVED

(a)  that the Risk Management Strategy now submitted be approved; and

(b)  that Councillor R Harrison be appointed Risk Management Champion.

To consider a report by the Internal Audit & Risk Manager detailing the outcome of a review of the Risk Management Strategy.

With the assistance of a report by the Internal Audit and Risk Manager (a copy of which is appended in the Minute Book) the Panel considered the outcome of the annual review of the Council’s Risk Management Strategy. In previous years the review had been submitted to the Corporate Governance Panel; however, this responsibility had recently transferred to the Cabinet.

By way of introduction, the Internal Audit and Risk Manager explained that the Management Team was required to review and consider the Council’s risk appetite each year. On this occasion it had been recommended that no change was required to either the general (high) or the Health and Safety (low) risk appetite levels within the Strategy. Members’ attention was also drawn to the decision to transfer the responsibilities of the Risk Management Group to the Governance Risk Working Group and the Internal Audit Service which was not envisaged to result in any significant reduction in risk management oversight.

In considering the draft Strategy and, recognising their responsibilities for scrutinising the Council’s finances, Members questioned the way in which financial risks were monitored and controlled. Their attention was drawn to the financial values, which formed part of the Council’s risk scales. Having noted that there were currently 155 risks included on the Council’s Risk Register, the Internal Audit and Risk Manager undertook to provide a copy to all Members of the Panel for information. The Panel also discussed the nine ‘red’ risks which are the most serious and the number of risks within each of the other risk categories.

Having been informed the Corporate Governance Panel reviewed the Authority’s ‘total risk’ every six months, the Chairman undertook to speak to the Chairman of the Corporate Governance Panel to determine whether there was a role for the Economic Well-Being Panel further to review this area without duplicating the work that was already undertaken.

Following discussion on the Council’s corporate approach to risk, Members were of the opinion that risks should be incorporated into the Register to reflect the move to shared services and the outsourcing of services. In recognition of the financial pressures facing the Authority and the need to be innovative, explore alternative methods of service delivery and reduce the Council’s reliance on Government Grant, Members were content to support the risk appetite levels within the Strategy. Whereupon, it was

RESOLVED

that the Cabinet be recommended to approve the Risk Management Strategy as appended to the report now submitted.