How are council risks managed?
Risk management is a key consideration of all staff.
Good risk management helps you take more risk (successfully) and exploit opportunities
All supervisors/managers have a good knowledge of the risks that they face when delivering their service. There are risk management representatives in each department who attend the Corporate Risk Management Group. The Council has a risk management strategy which sets out the overall approach to risk management (including risk appetite) and provides guidance for staff.
Each service has an operational risk register which is discussed regularly at the Departmental Management Team meetings.
The Council maintains a strategic risk register which is updated every 6 months and is reported to the Audit and Scrutiny Committee (annually to the Cabinet). This register highlights the main risks which, if they occurred, would affect the overall reputation of the Council and could, in some cases, have a significant financial impact.
The Council has agreed a common approach for recording and scoring these risks i.e. risk register.
- It should be about the management, not the avoidance, of risk
- It should help to prioritise work in a fast moving context
- With an approach that is better than simple intuition and that
- Facilitates communication between people
Management at all levels must balance between risk and reward when making strategic and operational decisions.
A copy of the latest strategic risk register and risk strategy is available: