Risk Management Policy Statement and Strategy

9.1    Cabinet will be responsible for the approval of the Risk Management Policy and Strategy (minor updates will be dealt with via an Executive Member decision)

9.2    Regular reporting for risk oversight and the management of risk will be as follows:

9.3    Reporting will include all strategic risks. Operational risks will be reported where the residual risk is “Serious” or “Severe”. The management of “Manageable” risks will be the responsibility of Directors and risk managers.

9.4    Project Risks will be the responsibility of Project Sponsors and Managers. These will be transferred to Operational and Strategic risk registers where there is a likely impact on the Council’s ability to deliver its objectives. 

9.5    Audit Committee will be responsible for monitoring the Councils risk management arrangements. 

9.6    Executive Members will be briefed where appropriate at monthly briefings to ensure they are aware of significant risks affecting their portfolios and any improvements in controls which are proposed.

9.7    Internal Audit will audit the process on a regular basis, to ensure effectiveness of the Risk Framework.

9.8    The production of the Annual Governance Statement signed by the Chief Executive and Leader of the Council at the end of each financial year, will report on the effectiveness of Risk Management and report on any governance issues.

9.9    Other Corporate Groups will also oversee specific themed risks, such as Health and Safety Risks being overseen by the Operational Health and Safety Board, who will report significant matters to the Corporate Governance Group.