Agenda item

Report of the Managing Director of BHE

The Board considered a report of the Managing Director of BHE providing Members with an overview of the proposed approach to be adopted for the effective management of risks for BHE. The Managing Director of BHE introduced the report and drew Members’ attention to the key points.

A Member noted some divergence from the corporate Risk Register template and advised that this was a slight concern which required further clarity, as the City of London Corporation was Trustee of the charity, some risks must still be considered wider corporate risks. Another Member commented that it was important to align with wider corporate practice as far as possible, as this would be beneficial for the City of London Corporation in managing risks across all of its operations and activities, as well as for the charity itself. The Managing Director of BHE assured the Board that there would not be a parallel process set up for BHE and that any feedback would be taken away to improve the Risk Register.

The Chair advised that this be followed up and worked on in conjunction with the Audit and Risk Management Committee and proposed that the Board approve the recommendations on this basis.

RESOLVED – That the Bridge House Estates Board:

i.              Approve the Bridge House Estates Risk Management Protocol set out in the report;

ii.             Review the Bridge House Estates Principal Risk Register and confirm that the risks are comprehensive, scored correctly and that appropriate control measures are in place; and

iii.            Request that further work be undertaken in conjunction with the Audit & Risk Management Committee to ensure that the above documents are satisfactorily aligned with wider City of London Corporation practice going forward.