Agenda item - Strategic Risk Register Review September 2015

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

That the Audit & Standards Committee notes the Strategic Risk Assessment Report October 2015 (Appendix 1).

47.1      The Committee considered a report of the Interim Executive Director, Finance & Resources that set out the Strategic Risk Register Assessment Report giving detail on actions taken and planned actions to manage each strategic risk.

47.2      Dr Horne noted his concern that none of the strategic risks listed at paragraph 4.5 had improved.

47.3      The Risk Management Lead clarified that as risk items were often long-term issues by definition, they did not often move within a six month period. The Risk Management Lead added that the items listed were those considered very seriously and thoroughly by the Executive Leadership Team (ELT) and were regularly reviewed.

47.4      The Interim Executive Director, Finance & Resources stated that as a member of ELT, she could give assurance that the risk register was regularly and robustly reviewed.

47.5      Dr Horne stated that there were no comments in relation to the solutions proposed for each risk and therefore no information on whether those solutions were effective.

47.6      Councillor Morris noted that both uncertain and adequate were given for those items listed as amber and asked the reasons for the differing classifications.

47.7      In response to the issues raised, the Risk Management Lead clarified that the risk owners set controls as an action to resolve the issue. Amber rated items were sometimes left open as they were subject to change that could include a change or finalisation in central government policy.

47.8      Diane Bushell noted that no deadlines for risk solutions were provided.

47.9      The Risk Management Lead clarified that completion dates were sometimes set internally and the observations of the committee would be reviewed for future versions of the report.

47.10   Councillor Sykes noted that two risks had been removed from the Register and asked if it was the duty of ELT to make such decisions.

47.11   The Interim Executive Director, Finance & Resources confirmed that the decision was taken by ELT if they were satisfied the actions implemented had reduced the risk level and to allow for focus on the highest priority strategic risks.

47.12   RESOLVED- That the Audit & Standards Committee notes the Strategic Risk Assessment Report October 2015 (Appendix 1).