9 Strategic Risk Management PDF 145 KB
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Minutes:
Gereint Stoneman (Head of Corporate Policy and Strategy) introduced the report. He advised that the Strategic Risk Management Framework had been refreshed ahead of the beginning of the 2024/25 financial year and approved by Cabinet in January 2024. He reported that the responsibility for risk management had been transferred from Finance to the Corporate Policy Unit. Some modifications had been made to approaches to risk management to strengthen alignment between strategic foresight, risk management, and strategy development as outlined within the report. He highlighted the arrangements in place for reporting to overview and scrutiny committees and directorate leadership teams also detailed in the report.
In response to the Chair, Gereint Stoneman advised that strategic risk updates formed part of the integrated performance reports presented to Cabinet and overview and scrutiny committees each quarter.
In response to Chair, members of the Committee agreed that the recommendation of the report be accepted.
Resolved:
That the Audit and Standards Committee notes the approach to risk management as set out in the refreshed Strategic Risk Management Framework at Appendix 1, and strategic and service risks set out in Appendix 2.