Purpose of Report
To provide the Executive with a status report of the revised Strategic Risk Register as at the end of the first quarter 2019/20.
That the Executive:
(1) Agrees that all current risk challenges have been identified.
(2) Ensures that any gaps in respect of controls and ownership are addressed.
Alternative Options Considered and Rejected
Reason for Decision
Since the previous report to the Executive on the Strategic Risk Register, the document had been reviewed and updated by the relevant Strategic Directors and Assistant Directors as part of an annual review of all strategic risks and horizon scanning. This review had identified that there had been some positive movement in the Risk Register.
A number of control actions had now been progressed or completed and the key movements were outlined as follows:
· Risk 2 – failure to deliver a sustainable Medium Term Financial Strategy. The Medium Term Financial Strategy 2019-24 was approved in March 2019 based on revised assumptions and with increased savings targets;
· Risk 3 – failure to deliver the Towards Financial Sustainability Programme whilst ensuring the resilience of the Council. The Investment Strategy for property acquisition was developed and approved in March 2019. Draft project plans had been developed with programme mapping complete in respect of phase six of the programme. Key messages had been communicated in staff briefings and the Transformational Change lead had been appointed, focussing on the ‘One Council’ approach;
· Risk 4 – to ensure compliance with statutory duties and appropriate governance arrangements were in place. A procurement exercise had taken place to replace the Council’s core IT infrastructure including disaster recovery functionality, with implementation during the Autumn 2019;
· Risk 5 – failure to protect the local authority’s vision 2020 due to changing structures and relationships in local government and impact on size, scale and scope of the Council. Further work was planned to maintain dialogue with partners at officer level and to assess the overall impact as well as consider alternative options for delivery;
· Risk 6 – 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. Project Boards had now been set up to focus on key areas of delivery underpinning the ‘One Council’ approach with a managers’ briefing to be held in August 2019 to finalise the four pillars to support the ‘One Council’ approach. Research and visits were scheduled with relevant organisations to provide expertise and guidance in progressing the transformational journey, linking in organisational development and future new ways of working;
· Risk 7 – insufficient levels of resilience and capacity exist in order to delivery key strategic projects and services within the Council. A review would be undertaken to agree timelines for existing Vision 2020 and legacy projects in order to plan for Vision 2025;
· Risk 8 – decline in the economic prosperity within the City Centre. A continuous review was undertaken pending a ‘no deal brexit’ outcome. Proposals for the Cornhill, the Central Market and city centre vibrancy, together with the review of a Service Level Agreement with Lincoln BIG were scheduled for quarter two.
The above movement in control actions and annual review of the register had resulted in five changes to the assessed levels of likelihood and impact of risks identified on the register. These were illustrated in paragraph 3.2 of the report, with levels of assessed risks set out at paragraph 3.3.