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Report to: |
Audit and Governance Committee |
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Date: |
25 July 2023 |
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Title: |
Strategic Risk Update – June 2023 |
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Portfolio Area: |
Cllr Chris Edmonds Leader Member (Resources) |
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Wards Affected: |
All |
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Author: |
Neil Hawke |
Role: |
Assistant Director Strategy and Organisational Development |
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Contact: |
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RECOMMENDATIONS:
That the Audit and Governance Committee:
1. consider the current strategic risk register; and
2. note the intention for the strategic risk profile of the Council, and our adopted Risk and Opportunity Management framework to be updated alongside the development of its new Corporate Strategy.
1. Executive summary
1.1 The Council currently has an adopted risk and opportunity management strategy setting out the approach to assessment of risk and those which should form part of the strategic risk register.
1.2 Consideration of organisational risks is a day-to-day activity for Heads of Service and managers within departments.
1.3 As part of its performance management framework, Council services and key projects all have individual risk registers, managed at an operational level within those services.
1.4 Only where a risk is deemed sufficient enough to require support and input from outside of its ‘host’ department is it escalated to the Strategic Risk Register.
1.5 This report sets out the current strategic risks as considered by the officer ‘Performance Board’ in June 2023. See Appendix A.
1.6 The report also sets out the intention to update the Risk and Opportunity Management Strategy by the Autumn 2023 alongside the development of our next corporate strategy.
2. Background
2.1 The Audit and Governance committee receive six-monthly updates on the Council’s Strategic Risks.
2.2 Strategic Risks are those that are subject to significant management actions, control, evaluation or improvements and do therefore not document all risks to the Council and its services.
2.3 The Council’s adopted Risk and Opportunity Management Strategy has been in place since 2018. While this strategy has served the Council well, it is considered that it requires an update to reflect changes to the internal governance and structures of Council services.
2.4 Council services and projects are now all required to maintain their own operational risk registers, highlighting any significant risks meeting the definition in 2.2 to the Performance Board (a monthly board consisting of the Director of Service Delivery, Director of Strategy & Governance, Assistant Director Strategy and Customer Improvement Manager). They assess the operating environment and key issues and consider if the current strategic risk profile is accurate.
2.5 The Council is also beginning to develop its next Corporate Strategy. Alongside development of the strategy, an in-depth review of risks will be undertaken along with a refresh of our Risk and Opportunity Management Strategy. This will form part of the next strategic risk update to this committee.
3. Key Changes since last update to Audit & Governance
3.1 Since the last update to Audit & Governance Committee in March 2023, the following changes should be noted;
3.2 Removal of the risk related to Cost of Living Impacts on Council Services. This risk was primarily about the ability of the Council to meet the support needs of our residents. The team have adapted well and actions within our Cost of Living response plan have been delivered. We currently consider that this risk can be managed at an operational level and overseen by the Head of Revenues and Benefits.
3.3 Removal of the risk related to Homes for Ukraine scheme. This risk was initially escalated to the strategic risk register in June 2022 when there was much uncertainty around how many Ukrainians would arrive through the scheme and the financial support available for local authorities. We now have much greater certainty on these points and have appointed dedicated resources to respond to the needs of our Ukrainian guests. This risk is therefore de-escalated from the Strategic Risk Register and is now being managed at an operational level by the Head of Housing.
4. Implications
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Implications
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Relevant |
Details and proposed measures to address |
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Legal/Governance
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Y |
Effective risk management is an essential aspect of our Performance Management framework, as is scrutiny of these risks by the Audit & Governance Committee.
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Financial implications to include reference to value for money
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Y |
Effective risk management is an important aspect of ensuring value for money services
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Risk |
Y |
This report sets out the strategic risk assessment of the Council |
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Supporting Corporate Strategy |
Y |
All |
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Consultation & Engagement Strategy |
N |
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Climate Change - Carbon / Biodiversity Impact
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N |
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Comprehensive Impact Assessment Implications |
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Equality and Diversity
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N |
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Safeguarding
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N |
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Community Safety, Crime and Disorder |
N |
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Health, Safety and Wellbeing |
N |
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Other implications |
N |
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Supporting Information
Appendices:
Appendix A – Strategic Risk Profile – June 2023
Background Papers:
None