Agenda item - Risk Management Strategy 2013

Report of the Executive Director of Finance & Resources (copy attached).

93.1         The Committee considered a report of the Executive Director of Finance & Resources in relation to the Risk Management Strategy 2013. The Policy & Resources Committee had responsibility for the formal approval of the strategy; however, the Audit & Standards Committee had a key role in monitoring the delivery.

93.2         Councillor Wealls asked a series of questions in relation to the ranking of risks, and how they were addressed in the Strategy; in response it was explained that the ranking was assessed against how they would affect the achievements of the Council’s objectives – there was also a red/amber/green system (commonly known as ‘RAG rating’) used which was similar to that in other public sector bodies such as the NHS. Councillor Wealls went on to ask about how resources would be allocated against risks and it was highlighted that the Strategy was used to prioritise risks, and ensure they were managed in the best possible way. There were three stages in the risk register format, and the action plans on the register would consider mitigating controls to give a better view on the realistic position.

93.3         RESOLVED – That the Committee note the Risk Management Strategy 2013 at Appendix 1  as approved by Policy & Resources Committee on 14 February 2013.