Issue - meetings

Risk Management Update

Meeting: 08/02/2019 - Audit & Accounts Committee (Item 38)

38 Risk Management Update pdf icon PDF 146 KB

Additional documents:

Minutes:

The overview of the Council’s Strategic, Operational & Project Risk registers as at 31 December 2018 was presented to members by Vanessa Higgins – Information Business Partner.

 

The Committee reviewed the registers on an exception basis. 15 strategic risks had been identified and assessed, of which 40% (6) were rated as ‘high’ and therefore above the Council’s risk tolerance threshold. Of the 31 Operational risks, 4 were rated ‘high’, and of the 8 project risks, 1 was ‘high’.

 

The 6 ‘high’ Strategic Risks and the 4 emerging ‘opportunity’ risks were shown on matrices as follows:-

 

 Matrix 1: Risk Threats

Impact

Likelihood

 

1

2

3

4

5

5

 

 

 

 

 

 

 

 

 

 

 

4

 

 

 

 

 

 

 

 

 

3

 

 

 

 

 

 

 

-  IT Security

- MTFP

- Ext Funding for Growth

- Contract Mngt

- Investment into assets

2

 

 

 

 

 

 

 

 

Safeguarding duty

1

 

 

 

 

 

 

 

 

 

 

 

Matrix 2: Risk Opportunities

Impact

Likelihood

 

5

4

3

2

1

5

 

 

 

 

 

 

 

 

 

 

 

 

 

4

 

 

 

 

 

 

 

 

Effective contractor relations

 

 

3

 

 

 

 

Housing & Business Growth

Council Trading

 

 

 

2

 

 

 

 

 

 

 

 

1

 

 

 

 

 

 

 

 

 

 

RESOLVED – That the Panel NOTES  the Council’s current risk position and the mitigation plans summarised within Appendix A (strategic risks), Appendix B (operational risks) and Appendix C (project risks).