Agenda item

To provide the Executive with an update report of the revised Strategic Risk Register as at the end of the third quarter 2018-19.

Decision

That the Strategic Risk Register as at the end of the third quarter for 2018-19 be noted.

None.

A number of further control actions had now been progressed or completed and the key movements were outlined as follows:

·         risk two – failure to provide a sustainable Medium Term Financial Strategy. A draft Medium Term Financial Strategy had been developed and was approved by the Council at its meeting on 4 March 2019;

·         risk three – failure to deliver the Towards Financial Sustainability Programme whilst ensuring the resilience of the Council. Progress continued to be made against the existing Towards Financial Sustainability Programme with only a small number of schemes left to complete. Work had been progressing during quarter three on the development of a new programme of schemes in order to deliver the increased savings targets as per the approved Medium Term Financial Strategy;

·         risk six – unable to meet the emerging changes required in the Council’s culture, behaviour and skills to support the delivery of the Council’s Vision 2020 and the transformation journey to the ‘One Council’ approach. As part of the People Strategy the Council had launched an annual staff recognition scheme which would assist in celebrating the hard work and success of the Council’s employees. Other initiatives to promote rising stars and the work of teams through award submissions and the entering of a team for the East Midlands Challenge would also take place during quarter four. A transformation change lead would be recruited in quarter three to support the ‘One Council’ approach to deliver a single organisational approach more efficiently and cost effectively;

·         risk seven – insufficient levels of resilience and capacity existed in order to deliver key strategic projects and services within the Council. Service planning had commenced together with work allocations for Vision 2020 projects. Revised management structural changes were continuing to take place with recruitment for an Assistant Director of Growth under the Major Developments Directorate currently in progress;

·         risk 8 – decline in the economic prosperity within the City Centre. A fundamental review of the place shaping strategy had commenced alongside review of the market within the city centre. Work had also started on scoping the development of activity and investment to support the vibrancy of the city centre engaging with government to submit an application for the Future High Street Fund.

Two new risks had been added to the Strategic Risk Register, as follows:

·         risk 9 – failure to mitigate against the outcome of Brexit. Monitoring continued and regular updates were provided to the Council’s Corporate Management Team and political leadership;

·         risk 10 – failure to deliver key strategic projects. Relevant Boards were in place to monitor key milestones including financial, reputational and resource and partnership implications together with effective communication plans and risk registers which were owned and understood. Work was commencing to share and understand the implications of delivery and non-delivery and utilising external experts for advice and independent review.

A copy of the revised Strategic Risk Register was attached to the report at Appendix A.