Issue - meetings

DEVELOPMENT OF THE REVISED CORPORATE RISK REGISTER

Meeting: 11/03/2019 - Audit and Risk Management Committee (Item 66)

66 DEVELOPMENT OF THE REVISED CORPORATE RISK REGISTER pdf icon PDF 98 KB

Additional documents:

Minutes:

Shaer Halewood, Director of Finance and Investment (S151) introduced her report that informed of the improved focus on the Council’s most critical risks and enhancements to arrangements for managing risk. The report further informed that the leadership had a clear shared and current understanding of those risks and was fundamental to this aim. The Director of Finance and Investment reminded Members of earlier reports dated 24 September and 19 November 2018 and informed that work had been undertaken with the Strategic Leadership Team to draw out their view of the Council’s most significant risks. The Director’s report provided a further progress update in relation to that work.

 

The Audit and Risk Management Committee was apprised of plans to improve the Council’s understanding of the actions taken in respect of mitigation of risk.

 

The Director of Finance and Investment (S151)’s report identified that the Internal Audit Plan for 2019/20 had been directly informed by the revised corporate risk register, and that how the forthcoming financial year’s audits were planned to shed light on the effectiveness of existing mitigations and identify areas for improvement.

 

The Audit and Risk Management Committee was apprised that this work will also support the mapping of the key controls for each risk onto a ‘three lines of defence’ assurance model, to help aid the identification of any gaps in the control environment. The output from the exercise was to be shared with SLT and the Audit and Risk Management Committee to form part of future quarterly performance monitoring. SLT will consider each risk and decide whether it warranted addition to the Corporate Risk Register or should continue to be managed within the directorate or programme.

 

Director of Finance and Investment (S151)proposed that at each future meeting of the Audit and Risk Management Committee, Members consider one of the corporate risks in detail and invite the relevant officer / ‘risk owner’ to the meeting to explain actions taken to mitigate that risk.

 

Members welcomed the Director of Finance and Investment’s proposal that an exercise will also be undertaken to draw out the appetite of political and executive leaders for each of the revised corporate risks.

 

Following discussion on the report, a Councillor Phil Gilchrist moved, and it was duly seconded that a third recommendation be added to those listed in the report, i.e. That “in the interest of continuity, arrangements be made to ensure that developments covered in Governance (Corporate Risk Register - Risk Reference 7) are shared across group leaderships”. Following a show of hands, it was:

 

Resolved – That

 

1)  the report be noted;

 

2)  Members examine one of the revised corporate risks in detail at each future meeting of the committee; and

 

3)  in the interest of continuity, arrangements be made to ensure that developments covered in Governance (Corporate Risk Register - Risk Reference 7) are shared across group leaderships.