To provide an update on the council’s approach to risk management arrangements. 

The Director of Finance (DOF) introduced the report the purpose of which was to provide an update on the council’s approach to risk management arrangements.  The principal points were noted:

·       The Corporate Leadership Team (CLT) had taken part in a risk management workshop that morning, hosted by South West Audit Partnership (SWAP) where risk appetite and tolerance was discussed and considered in the context of the council plan and the priorities of the council plan around people, place, growth and transformation

Next Steps Included

·       Updating the corporate risk registers ensuring the risks are proportionate and where appropriate mitigations, they are linked to the risk appetite.

·       Sharing and informing colleagues across the organisation of risk appetite to empower officers in their decision making and activities.

·       Additional training and information sessions to ensure that director activity is consistent with the strategic approach.

·       Attention was drawn to the timeline of planned activity.

In response to committee questions, it was noted:

1.     It was noted that whilst aligning the strategy to the core principles of the council plan the underpinning theme across all those principles was working and joining up all the relevant bodies across the county to also consider cabinet priorities and making sure that the council is considering risks.

2.     A realistic and robust budget for adult’s services in the community wellbeing directorate had been set which had been considered by the in-year cost pressures. and the likely impact of demand, growth and the direct impact of employees national Insurance etc on social care contracts. It had been through the scrutiny process and discussed at cabinet twice and was due to be considered and approved by full council.  Cabinet had also approved the transfer of £11 million from the business rates risk reserve to a budget resilience reserve which will exist to support and mitigate those risks of emerging demand in future financial years.

3.     The DOF clarified that there were no costs incurred for the workshop that had been provided by SWAP and was included as part of the council’s annual contract and services and the external risk management company as part of the council’s insurance arrangement. Both perspectives at the workshop were of great value.  

The committee noted the activity completed to develop the Risk Management Strategy.