Risk management

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:

Corporate

Risks have been identified around securing funding to deliver the UK Central Programme, MTFS delivery due to  pressures in Children’s Services, the new Strategic Environment Contract (SEC) and the impact of Covid-19, unprecedented pressures which could limit the delivery of services for Children, the use of Spandrel Panels in 16 high rise buildings 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.

The corporate leadership team also has oversight of the risk to our capacity and ability to manage our local outbreak response to the pandemic to contain the virus through prevention and outbreak management.

Economy and Infrastructure and Directorate

Risks have been identified in connection with the shortfall in cark park income generation and the Core theatre being unable to maintain current income and meet income targets; 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; mitigating actions have been identified and these are regularly reviewed by the Directorate Leadership team.

Public health directorate

Risks have been identified around the impact of Covid-19; mitigating actions have been identified and these are regularly reviewed by the Local Outbreak management board and Directorate Leadership team.

Resources directorate

Risks have been identified in an ongoing project to replace the existing on-site Oracle eBusiness system to an Oracle supplied Cloud based solution; these risks are being mitigated and under review by the project board as well as the Directorate Leadership team.

Our risk register

The Council's risk report describes these risks in more detail and the steps that we are taking to mitigate them.