Issue - meetings

To consider a report by the Internal Audit and Risk Manager regarding the outcome of the annual review of the Risk Management Strategy.

Approves the Risk Management Strategy. 

The Cabinet considered a report (a copy of which is appended in the Minute Book) to approve the Risk Management Strategy following its annual review.

The Cabinet was advised that the Corporate Governance Panel previously approved the Strategy but following a review of the Panel’s effectiveness it was decided that it was not the appropriate forum to consider the document.

It was explained to the Cabinet that the Risk Management Strategy formerly included two risk appetite statements – one that referred to the appetite surrounding health and safety risks and a second ‘catch-all’ statement for all other areas.  However, in order to better reflect the Corporate Plan the two former risk appetite statements were to be deleted and replaced with seven individual statements, each of which reflected the different types of risk which the Council could face and which could impact on its ability to meet both its statutory requirements and strategic outcomes.

The seven risk areas related to Transformation; People and Culture; Financial; Operational/Service; Reputation; Compliance and Regulation; and Health and Safety.  The Cabinet were referred to the risk appetite levels for each of the areas and were informed that work would commence on mapping all of the risks in the Risk Register against the seven risk areas.  Whereupon the Cabinet,

RESOLVED

to approve the Risk Management Strategy.