Agenda Item No. 7
THE VALE OF GLAMORGAN COUNCIL
CABINET: 6TH JUNE, 2018
REFERENCE FROM AUDIT COMMITTEE: 1ST MAY, 2018
“ REVIEW OF THE CORPORATE RISK MANAGEMENT STRATEGY (MD) –
The Council’s Risk Management Strategy had previously been reviewed in 2016. It had been considered good practice to regularly review and update the Risk Management Strategy to ensure that it strengthened the Council’s approach to Risk Management. A revised Corporate Risk Management Strategy was attached at Appendix 1 to the report and a number of notable annexes to the Strategy were detailed as follows:
- A – Risk Register Template
- B – Risk Management Guidance Note (Worked Example)
- C – Service Risk Template
- D – Project Risk Matrix
- E – Project Risk and Issue Log
The revised Corporate Risk Management Strategy outlined the Council’s approach to risk management and focused on three main stages:
- Identification of a risk and its definition
- Evaluation of the inherent risk, the effectiveness of controls and the residual risk
- Management of risk.
Appendix 2 to the report provided Members with a summary of the key sections of the new Risk Strategy, the purpose of the section together with a summary of the changes / revisions and the reasons for the changes. Corporate risks were considered in the context of the Well-being of Future Generations Act in terms of the impact they could potentially have on the Council’s contribution to the well-being goals. The five ways of working were also a key consideration in relation to the Council’s Corporate Risks which showed how these ways of working could have a mitigating effect through actions taken as part of the risk management plans within the Risk Register.
In referring to the work that had been undertaken in the context of the Future Generations Act, a Member queried how much more did the Council have left to complete. The Head of Performance and Development stated that the Vale Council had been early adopters of the Act and had already made quite significant progress in relation to aspects of the Act and its interpretation. Although these were early days in the implementation of the Act, he was confident the Council was well placed for the future.
In referring to the work of the Insight Board, it was suggested that an update report be presented to Audit Committee of the work of the Insight Board, with the Head of Performance and Development stating that at a recent Insight Board meeting discussions had already focused on how the Board and its remit should be developed.
In considering whether the specific leadership of the Council should be called to the Audit Committee, the Chairman asked the Wales Audit Officer whether this happened in other Councils, with the Auditor responding the Leader was not called on a regular basis to Audit Committee meetings to his knowledge. The Audit Committee’s role was to ensure that there were overall arrangements in place and reviews undertaken if necessary, it was the responsibility of each individual Scrutiny Committee to review their service area and their risks.
In referring specifically to the Safeguarding and Deprivation of Liberties risks, the Audit Committee stated that they were aware that the Healthy Living and Social Care Scrutiny Committee should be considering this service area, but the Audit Committee sought assurance in relation to the work and continued with the request that a relevant officer be present at the next meeting to provide an overview.
Following full consideration of the report, it was subsequently
(1) T H A T the revised Risk Management Strategy be approved.
(2) T H A T the revised Risk Management Strategy be referred to Cabinet for their consideration and approval.
Reasons for decisions
(1) To make Members aware of the changes to the Risk Management Strategy and ensure there are robust mechanisms in place to effectively identify, manage and monitor risks.
(2) To ensure that Cabinet are aware and approve of the changes made to the Council's Risk Management Strategy.”
Attached as Appendix - Report to Audit Committee: 1st May, 2018