Agenda item

Report of the Chamberlain.

To be read in conjunction with the non-public appendix at Item 14.

Members received for discussion a report of the Chamberlain relative to the Corporate Risk Update. The following points were noted:

·         CR01 Resilience Risk to be reviewed, re-rated, and reported back to Committee;

·         CR34 COVID-19 (Response) to be reworded to reflect recovery phase; financial impact of COVID-19 to be assessed separately;

·         CR25 GDPR Compliance Risk has been de-escalated to departmental risk;

·         CR26 Brexit risk to be reviewed in light of upcoming government statement.

·         Increase of risks across the Corporation from 344 to 393 not solely related to COVID-19, as new departmental risk register has been developed in the Town Clerk’s (ie. Cultural and Visitor Development division);

·         With respect to risk appetite, the level of risk Members would be prepared to accept may become an issue going forward, for example with respect of investments. Reduction in risk appetite may impact re-budgeting in the future. Will need to strike balance with Resource Allocation Sub-Committee and Chamberlain’s will bring this issue back to this Committee in the future.

RESOLVED – that, the report be received and its contents noted.