Agenda item

Risk Management - Top Risks

Report of the Chamberlain.

Minutes:

The Committee considered a report of the Chamberlain which provided updates regarding the top risks within the Departmental Risk Register.

 

Officers explained that the status for CR23 (City of London Police Funding) had been revised from amber to red. The previous status did not adequately recognise the risks associated with the Police’s long-term Budget.

 

The Commissioner reminded Members that he was clear about distinguishing between the current pressures on the COLP budget and the possibility that new operational challenges may arise in the future which require extra funding. The Chairman emphasised, that whilst a blank cheque would not be provided and value for money remain crucial, if, in the future, a recognised, legitimate need arose to mitigate a new operational challenge, funds would made available.

 

The Deputy Chairman informed Members that the status of CR16 (Information Security) was now anticipated to be reduced from red to amber by the end of April.

 

A Member informed the Committee that the Data Protection Act listed on page 93 (appendix section) displayed the incorrect year (1988) – UK Data Protection Acts were passed in 1984 and 1998.

 

The Member also sought clarity from officers on the financial impact of a data breach; this was listed as up to £500,000 in the appendix section. He reminded Members that under GDPR the upward limit of the fine was significantly higher. The Comptroller confirmed that the maximum fine is, in fact, 4% of global turnover. Officers agreed to review and revise the text to reflect this.

 

RESOLVED – That the Committee notes the report.

Supporting documents: