Issue - meetings

Report of Councillor P Parkin, Portfolio Holder for Finance

The report to Council sought approval of the revised Risk Management Strategy and Action Plan for 2022. Members were reminded how following a comprehensive review of the Council’s Risk Management Framework the Risk Management Strategy had been approved in 2020. This Strategy, it was explained, set out the mechanisms and processes for developing Risk Management within the Council and ensuring that this was then carried out in a systematic way.

Cabinet heard about the changes to the Strategy and Action Plan. Members were informed that these would help demonstrate the Council’s response to the changing risk environment and provide more information about how the Council assesses its ‘Risk Appetite’, or when it would be prudent to take appropriate risks in order to achieve specific goals. The changes to the Action Plan, it was stressed, would also reflect the requirements for continual improvements which had been identified.

Members discussed the report. Cabinet welcomed the good progress which had been made in developing a robust strategic approach to risk Management since 2020. In this context, Cabinet reflected on the important role played by the Member-led Risk Management Group’, Chaired by Councillor P Parkin, Portfolio Holder for Finance, in promoting and overseeing risk management throughout the Council.

RESOLVED - That Cabinet approved the new/reviewed Risk Management Strategy and Action Plan.

REASONS FOR DECISION - The Council is committed to maintaining, developing and actively monitoring the operation of a formal and systemic approach to Risk Management. The key objectives of this Strategy meet that commitment.

OTHER OPTIONS CONSIDERED AND REJECTED - Under relevant good practice and to facilitate the development of robust managerial arrangements the Council is required to have in place a robust risk management framework - the alternative of not providing this is therefore rejected.