Issue - meetings

The Council’s Strategic, Operational and Project Risk Registers were reviewed by the Committee on an exception basis. This report was based upon the Council’s position as at March 2023.

The latest analysis of the Strategic Risk Register revealed that the Council had identified and assessed 18 strategic risks, of which 44% were rated as 'high' and therefore above the Council’s risk tolerance threshold. There had been 2 new threat risks included in the strategic risk profile since last reported (PSTN switch off and delivery of the 3 Leek LUF investment schemes) and 1 new opportunity risk (delivery of the 3 Leek LUF investment schemes). The eight ‘high’ rated risks were listed in full at Appendix A to the report.

The Operational Risk Registers revealed that the Council had identified and assessed 36 operational risks in total, of which 11 were rated as ‘high’ and therefore above the Council’s risk tolerance thresholds. The details of all the significant changes were detailed in the report and the risks falling within the ‘high’ category were listed in full at Appendix B.

The project risk registers now covered 6 projects, with completions adjusting this figure accordingly. The project risk profile is below:

·       0% Critical

·       8% High – 2 risks 

·       71% Medium – 17 risks

·       21% Low – 5 risks

In response to query in relation to the Council’s peers and increased engagement with councillors, the Committee was advised that the Local Government Association had carried out the Peer Review, the Council’s insurers attended risk management meetings and there were plans to provide bespoke training to members over the next 12 months which would include a skills assessment of Audit Committee members.

In terms of project risk associated with the Levelling Up fund, members were assured that support and training was available to members of staff.

RESOLVED:

The Committee noted the Council’s current risk position and the mitigation / fruition plans summarised within Appendix A (strategic risks), Appendix B (operational risks), Appendix C (project risks) and Appendix D (opportunity risks).