Issue - meetings

Purpose of Report

To provide a status report on the revised Strategic Risk Register as at the end of the first quarter 2023/24.

Decision

That the Council’s strategic risks, as at the end of quarter 1, 2023/24, be noted.

Alternative Options Considered and Rejected

As detailed in the report.

Reasons for the Decision

An update of the Strategic Risk Register developed under the risk management approach of ‘risk appetite’, was last presented Members in June 2023 and contained twelve strategic risks.

Since reporting to Members in June, the Strategic Risk Register had been refreshed and updated by the Risk Owners and Corporate Management Team for the financial year 2023/24. This assessment reviewed each risk in terms of the level of assessed risk (likelihood and impact), target risk scores, control measures in place and mitigating actions required in order to; avoid, seek, modify, transfer, or retain the risks. It also considered whether each of the risks remained relevant or needed refocusing and whether there were new risks that needed to be assessed.

The outcome of this work resulted in a refreshed Strategic Risk Register for 2023/24, which reflected the changing circumstances in which the Council was operating and the different challenges and opportunities it faced. This refreshed register, contained in Part B of the agenda, would be performance monitored on a quarterly basis, reported to both Performance Scrutiny Committee and Executive. It contained fourteen risks.