Issue - meetings
Risk Management Update
Meeting: 08/02/2019 - Audit & Accounts Committee (Item 38)
38 Risk Management Update 
PDF 146 KB
Additional documents:
- Appendix A 1 for Risk Management Update, item 38
PDF 63 KB
- Appendix B 2 for Risk Management Update, item 38
PDF 55 KB
- Appendix C 3 for Risk Management Update, item 38
PDF 37 KB
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
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Impact |
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Likelihood |
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1 |
2 |
3 |
4 |
5 |
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5
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4
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3
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- IT Security - MTFP - Ext Funding for Growth |
- Contract Mngt - Investment into assets |
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2
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Safeguarding duty |
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1
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Matrix 2: Risk Opportunities
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Impact |
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Likelihood |
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5 |
4 |
3 |
2 |
1 |
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5
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4
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Effective contractor relations |
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3
|
Housing & Business Growth |
Council Trading |
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2
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1
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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).