The Council has a statutory responsibility to have in place arrangements for managing risks.
The Local Government (Accounts and Audit) Regulations state that “A local government body shall ensure that its financial management is adequate and effective and that it has a sound system of internal control which facilitates the effective exercise of its functions and includes arrangements for the management of risk.”
The Council recognises that there are risks involved in everything it does and it has a duty to manage these risks in a balanced, structured and cost-effective way. Our approach to risk management is detailed/ outlined within the Council’s Risk Management Policy and is designed to ensure that:
- New and emerging risks continue to be identified promptly and assessed realistically;
- Significant risks are escalated appropriately;
- The focus is on risks that, because of their likelihood and impact, make them management priorities;
- Effective mitigating action is taken to manage identified risks;
- All reasonable steps are taken to reduce risks to the lowest acceptable level.
Risks are regularly reviewed by the allocated risk owner(s) and there is an escalation process for the most significant risks (i.e., those assessed as either net red 9 or amber 8) which ensures that senior management and Members are aware of those risks that pose the most serious threat to the Council and how they are being managed.
Areas where high level risks have been identified are:
Risks have been identified around securing funding to deliver the UK Central Programme, budget pressures on Children’s services, MTFS delivery due to pressures in Children’s Services and social care reforms, the use of spandrel panels in some high rise buildings, avoidable death, serious harm or abuse of a child where the Council has a duty of care and the possibility of an information breach requiring notification to the Information Commissioner's Office; mitigating actions have been identified and are regularly reviewed by the Corporate Leadership Team.
Economy and Infrastructure and Directorate
Risks have been identified in connection with budget pressures in delivering the Commonwealth games and the Kingshurst Village Centre Regeneration scheme; mitigating actions have been identified and these are regularly reviewed by the Directorate Leadership team.
Risks have been identified within the UK Central Risk Register and include financial and delivery risks to the achievement of UKC objectives; mitigating actions have been identified and these are regularly reviewed by the UK Central Team.
Children’s services directorate
Risks have been identified around the failure to meet statutory requirements within Children & Families Act relating to SEND, failure to recognise children, young people and young adults at risk of exploitation and pressures on the SEND transport budget; mitigating actions have been identified and these are regularly reviewed by the Directorate Leadership team.
Public health directorate and Adult Care and support directorates
A high risk has been identified around the financial impact of the leisure centre contract; mitigating actions have been identified and these are regularly reviewed by the Directorate Leadership teams.
Our risk register
The Council's risk report describes these risks in more detail and the steps that we are taking to mitigate them.