Risk Management

What is Risk Management?

Successful organisations are not afraid to take risks; unsuccessful organisations take risks without understanding them.

The council recognises that there are risks involved in everything it does and that it has a duty to manage these risks in a balanced, structured and cost effective way. Risk Management is not about taking no risks at all - it is about being able to take calculated and controlled risks to improve the services our residents receive.

The aim of the Council's Risk Management practices is to comprehensively recognise and evaluate all potential risks and their sources:

1. Those overarching risks which require a corporate strategic response. The council's assessments reflect the latest informed view of the pressures driving the risk and if the high level strategic efforts and/or the underpinning operational controls in Directorate/s are up to date and working.
2. Those risks specific to operational activities of Service Areas within Directorates where failure carries high risk impacts.
3. Well managed risks in "a" and "b" where the Director/Head of Service and Lead Member require a regular prompt to check adequate controls are up to date and working because the impact of failure carries the most damaging effects on the Council.
4. Poorly managed risks in "a" and "b" where the risk owner i.e. Director/Head of Service/Lead Member has regular updates on improving controls until the residual risk is acceptable.
5. Emerging risks falling within any of the above.

Risk Management Strategy

The Risk Management Strategy sets out how the Council identifies and controls risks in achieving its objectives. It sets out the strategic approach to Risk Management, how the strategy will be implemented and the benefits of good Risk Management.

Corporate Risk Register

It is good governance for the Council to maintain and review a register of its strategic and operational risks assigning named individuals as responsible officers. The Council uses a database, JCAD RISK, to capture detailed information about these risks.

How do you rate this information/service?