Issue - meetings

The Assistant Director, Corporate Services and Transformation presented the

Corporate Risk Register, Corporate Risk Strategy and following a review by the Council’s Internal Audit provider, the revised Risk Appetite Framework used to identify, assess and monitor risk at a corporate level.

Committee considered the methodology of the new Risk Appetite Framework which defined risk appetite together with a statement relating to the Council’s position on its openness to risk. The framework also incorporated a risk rating score matrix which identified the level at which the risk would need to be monitored.

To conclude, Members discussed the current risk position and the impact on risk caused by the Covid pandemic.  Areas of increased risk included universal credit and subsequent collection/enforcement of rent payments, increasing levels of rent arrears within the Housing Revenue Account (HRA) and the ongoing solidity of the Council’s commercial investment portfolio.

RESOLVED that

a)    the Corporate Risk Register and progress against current corporate risks including significant items, as presented, be received and noted;

b)    the updated Corporate Risk Strategy and new Risk Appetite Framework be endorsed prior to Cabinet approval;

c)    the Assistant Director, Corporate Services and Transformation be requested to consider the possibility of earmarking risks within the Risk Register to indicate which areas are within the Council’s control to mitigate against and which are more affected by outside influences i.e. Central Government.