Risk Management Policy Statement and Strategy

This policy sets out the risk policy and strategy for the council and applies to staff and councillors of the council that manage and oversee risk. 

Effective Date:

September 2025

Review Date:    

September 2028 (or sooner if there are changes to legislation) 

Author:

Insurance and Risk Lead Officer

Policy Owned by:

Executive Director (Finance and Transformation)

Statute:    
N/A

National Standards and Guidance    

CIPFA/IFAC: International Framework: Good Governance in the Public Sector (2014)
CIPFA/Solace: Delivering Good Governance in Local Government: Framework (2016)
ISO: 31000:2018
HM Treasury: Orange Book

Related Policies  

Risk Management Framework
Business Continuity Plan
Health & Safety Policies and Procedures
Disaster Recovery Procedures
 

1.1    The purpose of this document is to outline an overall approach to risk management that addresses the risks, both negative and positive, facing the Council in achieving its objectives and which will facilitate the effective recognition and management of risks. The approach has been designed to support Members and officers in fulfilling their risk management responsibilities in a consistent manner.

1.2    Risk management will be embedded within the daily operations of the Council, from strategy and policy formulation through to business planning, general management and operational processes. It will also be applied where the Council works in partnership with other organisations to ensure that partnership risks are identified and managed appropriately. 

1.3    Through understanding risks, decision-makers will be better able to evaluate the impact of a decision or action on the achievement of the Councils objectives.

1.4    Risk management will not focus upon risk avoidance, but on the identification and management of an acceptable level of risk. It is the Councils aim to proactively identify, understand and manage the risks inherent in our services and associated with our plans, policies and strategies, to support responsible, informed risk taking and as a consequence, aim to improve value for money. 

1.5    The Council will seek to learn from other organisations where appropriate and to keep up to date with the best practice in risk management. Annual reviews of the Policy, Strategy and Framework will be undertaken to assess options for further alignment with practices adopted by partners.