Decision Maker: Audit Committee
Decision status: For Determination
Is Key decision?: No
Is subject to call in?: No
The Performance and Risk Officer presented the Strategic Risk Register (Quarter 2) 2018 which outlined all of those risks above and below the line of risk tolerance. Mitigations designed to reduce the risks in terms of likelihood or impact or both were listed against each risk above the line of tolerance. The Strategic Risk Register was reviewed by Senior Management Team each quarter as part of the Council’s quarterly performance monitoring and reporting arrangements and that review had informed this report.
The Performance and Risk Officer drew attention to the fact that over 73% of the Strategic Risks were now positioned below the level of risk tolerance which demonstrated the effective mitigation and regular review of the risks.
At its meeting on 25 July 2018, the Audit Committee had suggested that the Strategic Risk ‘Medium Term Financial Plan’ may have a higher impact than indicated on the risk matrix due to future uncertainty over Government spending reviews. Officers had subsequently undertaken a review of the risk and it had been decided that the matrix position for likelihood and impact was appropriate.
Since the meeting of the Audit Committee on 25 July 2018, one new Strategic Risk has been added to the Register. This new risk was ‘Business Continuity: Flu Pandemic - Loss of people, skills and supply chain disruption.’ Flu Pandemic was listed in the National Risk Register and the Cumbria Community Risk Register.
A separate item on the Agenda, Customer Connect Programme Management, included information on Customer Connect risks.
The Performance and Risk Officer referred to Risks 6, 9, 14 and 15, which were currently positioned above the line of appetite, and drew attention to the mitigations in place to manage them. In response to a query with regard to the position below tolerance of Risk 5 (Impact of the Welfare Reform on Communities) and concern expressed given the potential adverse impact of Universal Credit, he undertook to carry out an early review of the risk.
RESOLVED – That the Strategic Risk Register, as at Appendix 1 to the report, be noted.
Report author: John Davies
Publication date: 03/01/2019
Date of decision: 05/12/2018
Decided at meeting: 05/12/2018 - Audit Committee