Agenda item

The Service Director of Finance and Improvement Services provided the Governance and Audit Committee with the latest Strategic Risk Register for the 2023/24 financial year in line with its role to review and scrutinise the Council’s risk management arrangements.

The Service Director reminded Members that in line with the Committee’s Terms of Reference, the 12th October 2023 Governance and Audit Committee received a ‘Risk Management Strategy and Strategic Risk Register Update’ that covered the role of the Committee in respect of risk management and the arrangements in place to enable the Committee to discharge its responsibilities in this regard; an updated Risk Management Strategy; and updated Strategic Risk Register as at 30^th June 2023. The Service Director added that as part of the update, the Committee’s role in reviewing and scrutinising the Council’s risk management arrangements included keeping up-to-date with its risk profile and also the effectiveness of risk management actions via review of the Strategic Risk Register.

Members’ attention was drawn to the Council’s latest Strategic Risk Register, which was attached as Appendix 1 to the report. The Service Director provided an overview of the Strategic Risk Register noting that it contained 17 strategic risks, 11 of which were categorised as high risk and 6 medium risk, and all of which had been allocated a Risk Lead Officer to manage and co-ordinate the risk mitigation actions and controls. The Service Director went on to indicate that all Risk Lead Officers were either a member of the Council’s Senior Leadership Team or a Chief Officer of the Council; the Strategic Risk Register is reported to the Senior Leadership Team for regular review and challenge; and the Register is incorporated into the Council’s quarterly performance reports that are considered by the Council’s Cabinet and, thereafter, the Overview and Scrutiny Committee.

One Member was assured by the adequacy of the risk management framework and questioned how emerging risks, which were not included on the Strategic Risk Register, are monitored. The Service Director informed Members that the Council’s new Corporate Plan was in the process of being developed and, once approved, would set out the Council’s priorities for the period 2024-2030 and be a key document in informing future strategic risks facing the organisation. The Service Director added that underpinning the Corporate Plan are individual service delivery planning arrangements that identify and manage emerging risks, and depending on their significance, would be considered for inclusion within the Strategic Risk Register. The Service Director also emphasised the Council’s approach of ensuring that the risks included on the Strategic Risk Register are those that would have the most significant impact on the Council. The Service Director went on to reference the work undertaken by Audit Wales, that identifies key risks and actions that need to be considered by the Council as part of its forward planning arrangements. The Member was satisfied with the Service Director’s response and supported the position for everyday risks to not be included within the Strategic Risk Register.

The Governance and Audit Committee RESOLVED:

1.    To note the Council’s latest Strategic Risk Register for the 2023/24 financial year; and

2.    To review the Strategic Risk Register and determine whether further updates on specific Strategic Risks are required and subsequently reported to the Committee.