Issue - meetings

2.30pm

Report by the Interim Assistant Chief Executive

This report presents the draft Risk and Opportunities Management Strategy for 2019-21 which is due for consideration by Cabinet in October. If adopted, the Strategy will be the foundation for improvement of the Council’s risk management framework.

The Committee is RECOMMENDED to comment on the draft Risk and Opportunities Management Strategy, to inform any necessary revisions before Cabinet’s consideration on 15 October.

Recommendation agreed.

Robin Rogers and Steven Fairhurst Jones introduced the report.  The last review was in July 2016.  This review will go to Cabinet in October.  Future reviews are planned to be annual.

Officers responded to points from Members as follows:

·         Strictly speaking “risks” can be positive or negative but attention tends to be on the negative. Being clear that this strategy should also include “opportunities” is deliberately aimed at making that point.

·         Responsibility lies with champions and Directorate Leadership teams to be a voice in strategic discussions.  At operational level managers are responsible with issues escalated if outside the tolerance.

·         The action plan would normally be looked at by the Audit Working Group.

Members made the following observations on the draft:

·         While “opportunities” has been added to the title, there is more work to be done to reflect this in the text and in future reviews.  The Peer Review noted that the Council was too risk averse.

·         Members of the committee expressed the view that the Council needed to be bolder in taking managed risks.

·         Where talking about “tolerating” a risk (Agenda Page 36), there needs to be clear explanation that tolerating is a managed process.

·         Concern was expressed as to whether this was the right time to be less risk averse with investment.

The Chairman noted that the strategy review should come to this Committee annually.

RESOLVED: to comment on the draft Risk and Opportunities Management Strategy, to inform any necessary revisions before Cabinet’s consideration on 15 October.