Issue - meetings

This is the latest risk register as considered by the Pension Fund Committee on 6 September 2019 is attached (LPB8).  The Board are invited to review the report and offer any further views back to the Committee.

The Committee is RECOMMENDED to note the changes to the risk register and offer any further comments.

The Board had before it (LPB8) the latest risk register as considered by the Pension Fund Committee on 6 September 2019 for review and to offer any further views back to the Committee.

Councillor Johnston was pleased that risks were now being addressed and that we were now moving in the right direction.

RESOLVED: to note the changes to the risk register.

10:50

This report updates the Committee on the Fund’s Risk Register, updating the position on risks reported to the last meeting and adding in new risks identified in the intervening period.

The Committee is RECOMMENDED to note the changes to the risk register and offer any further comments

Recommendations agreed.

At its meeting in March 2016, the Committee had agreed that the risk register should form a standard item for each quarterly meeting.  This Committee had before it a report (PF9) which set out any progress on the mitigation actions agreed for those risks not yet at target and identified any changes to the risks which had arisen since the register was last reviewed.  At its June meeting, the Committee asked for a column indicating direction of travel for the risk and a RAG status to be reintroduced, and this was now included in the report accordingly.

Mr Collins explained the RAG rating to the Committee, explaining that red required urgent attention; Amber required oversight and Green meant there was no action required.  Given the long-term nature of pensions work, it was possible for the highest rated risks to be scored as green if there was mitigation action underway, and the risk was seen as long term in nature.

Currently, the register showed risk 6 and 13 as Amber and both  those issues were being dealt with separately on the Agenda.  Currently, there were no red status.

RESOLVED:  to note the changes to the risk register and offer any further comments