RESOLVED:
That the Cabinet approves the updated Risk Management Policy attached in Appendix A for implementation.
Reasons for decision
Cabinet received a report to approve an updated Risk Management Policy.
The Cabinet Member for Finance & Transformation highlighted the Council's statutory responsibility to maintain a comprehensive framework of internal controls, which included managing risks to the Council and its services. It was explained that the policy outlined the procedures to identify, evaluate, and mitigate potential risks and threats. It also required an assessment of the likelihood of each risk and the identification of management actions to mitigate them.
It was noted that a significant change in the policy was the attribution of responsibilities to officers managing specific services or activities, both for identifying and addressing risks if they materialise. Furthermore, the Cabinet Member advised that the reporting and monitoring of risks were now managed through a new software application and that the proposed Policy also reflected a series of updates and improvements that became operational in 2024.
Cabinet agreed the updated policy.
Alternative options considered or rejected
To not implement the policy, but Cabinet considered this would not follow best practice or legislative requirements.
|
Relevant Select Committee |
Corporate Resources & Infrastructure Select Committee |
|
Expiry date for any scrutiny call-in / date decision can be implemented (if no call-in) |
This matter can be called in by the relevant select committee by 5pm, Friday 17 January 2025. If not called-in, Cabinet’s decisions can then be implemented. |
|
Officer(s) to action |
Claire Baker |
|
Directorate |
Finance |
|
Classification |
Public - The report and any background papers relating to this decision by the Cabinet are available to view on the Council's website or by visiting the Civic Centre, Uxbridge. |