Corporate Risk Register / Risk Management Update - Presentation from the Head of Finance & Resources
Minutes:
The Audit Board received a presentation from the Head of Finance and Resources with regard to an Approach to Risk Management. The presentation provided an overview of the approach to risk management that the Council would adopt.
Heads of Service and managers would own their risk register so would be aware of risks within their service area. The risk scoring would assist management in identifying those risks to which priority must be given and so determine priority actions and where resources are best used.
Further discussion followed on the presentation slides and the Head of Finance and Resources responded to Members’ questions in respect of management ownership, the need to be fully aware of the risks within their service area; and the monitoring of risk registers. The Head of Finance and Resources briefly informed Members of the Risk Management Monitoring Group that was in the process of being set up. This group would ensure on going corporate monitoring and would challenge risks. At the request of the Chairman the Head of Finance and Resources agreed to provide details of the first meeting of the Risk Management Monitoring Group in order for a nominated Audit Board Member to attend as a representative of the Board.
The Chairman thanked the Head of Finance and Resources for her presentation.