Agenda item
Annual Risk Management Report
- Meeting of Replaces Postponed meeting 11 December 2012, Audit Committee, Monday, 14th January, 2013 7.00 p.m., NEW (Item 5.3)
- View the background to item 5.3
To note the report.
Minutes:
The Head of Risk Management and Audit presented the annual risk management report which highlighted the Council’s framework of control, the key risks and what further action the risk officer would take to address key risks identified.
Risk was categorised into low, medium and high categories using a risk matrix. In 2012, the annual risk audit identified 12 risks, grouped into corporate priority themes and directorates and reported in paragraphs 5.6 and 5.7 of the report.
The authority wished to progress in the area of risk management and has been reviewed by Zurich Insurance to identify areas for improvement. A report of the findings of this review will be presented at the next Audit Committee by the Head of Risk Management and Audit.
To raise corporate awareness of risk, the risk management team undertook a programme of lunchtime seminars for staff and have developed a screen saver which is displayed on the Council’s computer terminals. The Committee noted that these were positive initiatives.
In response to Members’ questions, the following information was provided:
A proprietary software package was used to perform risk audits, actions returned from these would indicate where the Council had more or less control over a risk.
The risk categories operated by the Council provided a good indication of exposure to risk faced by the Council and which of these could and/or could not be controlled. Additionally risk management monitoring a tool to evaluate how risks changed over time and gave an indication of what the Council was able to do about them.
RESOLVED
That the report be noted
The Head of Risk Management and Audit presented the annual risk management report which highlighted the Council’s framework of control, the key risks and what further action the risk officer would take to address key risks identified.
Risk was categorised into low, medium and high categories using a risk matrix. In 2012, the annual risk audit identified 12 risks, grouped into corporate priority themes and directorates and reported in paragraphs 5.6 and 5.7 of the report.
The authority wished to progress in the area of risk management and has been reviewed by Zurich Insurance to identify areas for improvement. A report of the findings of this review will be presented at the next Audit Committee by the Head of Risk Management and Audit.
To raise corporate awareness of risk, the risk management team undertook a programme of lunchtime seminars for staff and have developed a screen saver which is displayed on the Council’s computer terminals. The Committee noted that these were positive initiatives.
In response to Members’ questions, the following information was provided:
A proprietary software package was used to perform risk audits, actions returned from these would indicate where the Council had more or less control over a risk.
The risk categories operated by the Council provided a good indication of exposure to risk faced by the Council and which of these could and/or could not be controlled. Additionally risk management monitoring a tool to evaluate how risks changed over time and gave an indication of what the Council was able to do about them.
RESOLVED
That the report be noted
Supporting documents:
- 5.3 Risk management Annual Report, item 5.3 PDF 153 KB
- 5.3a Risk management Annual Report Appxs, item 5.3 PDF 413 KB