Councillor Phil Davies introduced a report which confirmed the process behind the annual update to the Council’s Corporate Risk Management Policy and appended a draft revised version of the document. The policy was approved by Audit & Risk Management Committee on 25 September (minute 33 refers). In accordance with Cabinet’s ultimate responsibility for corporate governance, Members were invited to consider and formally adopt the Policy on behalf of the Council.

The adoption of a revised Risk Management Policy was a key element of the Council’s approach to managing risk. In line with the governance arrangements for risk management, Cabinet was responsible for formally adopting any updated version of the Policy.

Councillor Davies referred to a key value for the Council to be ‘risk aware, not risk averse’, which made the need for an effective approach to handling risk even more important. The Policy would be disseminated through visits to individual management teams, through presentations to Wirral Plan Pledge Strategy Groups, publication on the Council Intranet and through completion by managers and staff of the Council’s risk management e-Learning courses.

RESOLVED: That the revised Corporate Risk Management Policy be formally adopted.