Agenda item

(Director of Finance & ICT) To consider the attached report (FPM-027-2013/14).

The Director of Finance & ICT presented a report on the Corporate Risk Register and the Risk Management documents.

The Director of Finance & ICT stated that the Corporate Risk Register and Risk Management documents had been considered by both the Risk Management Group on 25 February 2014 and Management Board on 5 March 2014. These reviews had identified amendments to the Corporate Risk Register and minor amendments to the wording of the Corporate Risk Documents.

The Director of Finance & ICT reported that five amendments to the Corporate Risk Register had been proposed as a result of the recent reviews. Risk 1, Local Plan, had been updated with key dates within the Action Plan. Risk 4, Finance Income, had been updated to include the risks of loss from legislative change to land charges and outstanding NNDR appeals. Risk 5, Data/Information, the existing control within the Action Plan had been amended to reflect the progress made with e-learning module for officers and the introduction of data protection awareness within the Member induction programme. Risk 7, Business Continuity, an additional vulnerability had  been added to advise the short term risk of the Tour de France passing through the District on 7 July 2014 and work was ongoing to ensure that appropriate arrangements were in place. Risk 8, Partnerships, a scoring change had been applied to the risk as the likelihood had reduced, which resulted in the scoring changing from C3 Medium Likelihood/Minor Impact to D3 Low/Very Low Likelihood/Minor Impact.

The Director of Finance & ICT added that the Risk Management Terms of Reference, Strategy and Policy Statement had been reviewed and some minor amendments were proposed as outlined in the report. The Cabinet Committee was requested to approve these documents for adoption at the next meeting of the Cabinet.

Recommended:

1.            That the key dates within the Action Plan be updated within Risk 1, Local Plan;

2.            That Risk 4, Finance Income, the risks of loss from legislative change to land charges and outstanding NNDR appeals be updated;

3.            That the Action Plan for Risk 5, Data/Information be amended to reflect the progress made with e-learning modules for officers and the introduction of data protection awareness within the Member induction programme;

4.            That the vulnerability for Risk 7, Business Continuity, be amended to reflect the short term risk of the Tour de France passing through the District on 7 July 2014;

5.            That the scoring of Risk 8, Partnerships, be changed to D3 Low/Very Low Likelihood/Minor Impact;

6.            That, incorporating the above agreed changes, the amended Corporate Risk Register be approved;

7.            That the current tolerance line on the risk matrix be considered satisfactory and not be amended;

8.            That the revised Risk Management Strategy be adopted;

9.            That the revised Risk Management Policy Statement to Cabinet be adopted; and

10.          That the updated Terms of Reference of the Risk Management Group be noted.

Reasons for Proposed Decisions:

It is essential that the Corporate Risk Register is regularly reviewed and kept up to date. The annual review of the corporate risk management documents helps ensure that the risk management process remains relevant and up to date.

Other Options Considered and Rejected:

Members may suggest new risks for inclusion or changes to the scoring of existing risks.